Risk
In a study of 169 U.S. and Canadian entities over the past year, rating agency Moody’s says great strides have been made towards better corporate governance.Among the improvements, Moody’s finds greater commitment by directors for such functions as risk management, oversight and controls, with directors less likely to "rubber stamp" acquisitions or other large investments. […]
By Canadian Underwriter | October 7, 2004
1 min read
Industry
Following improved financial performance, three of the four subsidiaries of Montreal-based Optimum General Inc. have been upgraded by A.M. Best to "B-" (fair) from "C++" (marginal). These ratings apply to Optimum Insurance Co., Optimum Farm Insurance Inc. and Optimum Frontier Insurance Co. Only Optimum West Insurance Co. of B.C. remains affirmed at the "C++" level.The […]
SGI Canada kicked off its last “Charity Curling Classic” Thursday, wrapping up a 12-year tradition which has raised more than $250,000 for local charities. The five-day event features some of the biggest names in international curing Canada’s Guy Hemmings, Jan Betker and Randy Ferbey, Sweden’s James Dryburgh and Americans Pete Fenson and Cassie Johnson. The […]
As expected, drug maker Merck is already facing lawsuits after pulling its pain medication Vioxx from the shelves. The company announced the move last week, in response to concerns over the drug’s side effects. Vioxx is used widely by arthritis sufferers. One class action suit, filed in the Illinois courts by Chicago-based Kenneth B. Moll […]
By Canadian Underwriter | October 6, 2004
Claims
Hurricanes Charley, Frances, Ivan and Jeanne which slammed into Florida between mid-August through to the beginning of September will likely result in insurers paying a record two million-plus claims, according to the Insurance Information Institute (III). In comparison, Hurricane Andrew generated a total of 700,000 claims, the III observes.The four hurricanes that recently struck parts […]
The 2004 Atlantic hurricane season was much worse than anticipated, but will taper off through October, according to the latest predictions by Prof. William Gray and the University of Colorado department of atmospheric science team.Both August and September outpaced expectations, the team reports. While the revised August forecast predicted three hurricanes and eight hurricane days, […]
The 2004 recipient of the Don Stuart Award, risk management’s highest honor, is Joseph Restoule. Restoule, accompanied by wife Patti, accepted the award Tuesday at the RIMS Canada Conference in Winnipeg. Restoule is director of risk & insurance for NOVA Chemicals Corp., a position he has held for 13 years. He has also been involved […]
By Canadian Underwriter | October 5, 2004
2 min read
Almost halfway through her term as RIMS president, Nancy Chambers says the journey thus far “has had lots of breathless moments”. Hearkening back to her introductory speech as president at the San Diego RIMS Conference in April, she says her expectation for a year of adventure has been met.Most recently, Chambers participated in ALARYS’ Bermuda […]
Among the many impacts the insurance industry experienced as a result of the 9/11 disaster was a recognition of the abysmal state of service taking place in commercial insurance ranks. So said a panel of speakers representing all segments of the market at the RIMS Canada Conference in Winnipeg, Tuesday. The interactive session allowed delegates […]
Manitoba Public Insurance (MPI) says it is “on target” for the first six months of its fiscal year. The province’s public auto insurer posted net income of $40.8 million for the first-half ending August 31, 2004, up from $39.2 million a year earlier. The public insurer generally begins the year building income which will offset […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
