Risk
Canadian Blood Services has just transferred three-quarters of its capacity to insure Canada's blood supply from its Bermuda captive to a B.C. captive - with plans to repatriate the rest at a future date
By David Gambrill | February 28, 2007
6 min read
Real-life product testing and paying the money required for good experts are key to managing product liability
By Philippe Lelarge, Partner, Gasco Goodhue LLP | February 28, 2007
Marsh & McLennan Companies Inc. (MMC) reported a hefty 2006 Q4 profit of US$226 million, an increase of more than 500% over 2005 Q4. Full-year consolidated net income was US$990 million, compared with US$404 million in 2005. Risk and insurance services revenues in 2006 Q4 increased 4% to US$1.4 billion, or 5% on an underlying […]
February 28, 2007
1 min read
A.M. Best has maintained a stable outlook on the personal lines segment of the U.S. market, driven primarily by favourable frequency and severity trends, modest catastrophic activity and the maintenance of pricing and underwriting discipline, among other factors.Performance in the personal lines segment continues to be driven by the automobile liability and physical damage lines, […]
By Canadian Underwriter | February 28, 2007
Following successful securitizations in property/casualty and life/health reinsurance business, Hannover Re has now for the first time transferred the risks deriving from so-called “reinsurance recoverables” to the capital market.Reinsurance recoverables the outstanding claims held by reinsurers against their retrocessionaires traditionally constitute a substantial item on Hannover Re’s balance sheet, the company said in a press […]
By Canadian Underwriter | February 26, 2007
Woodhouse Contracting Ltd. has joined a strategic partnership with Edenvale Restoration, uniting two of the largest independent companies in the Canadian disaster restoration industry.Edenvale, with headquarters in Abbotsford, B.C., operates in the British Columbia Lower Mainland with operation branches in Burnaby, Chilliwack and Surrey.Woodhouse, with headquarters in Kitchener, Ontario, operates in southern Ontario with operating […]
By Canadian Underwriter | February 23, 2007
2 min read
Portage la Prairie Mutual Insurance Company has increased its investment in the 2007 Broker Identity Program (BIP), established in 1989 by the Insurance Brokers Association of Canada (IBAC).The BIP program is a branding campaign for over 30,000 insurance brokers. Twenty leading insurance companies supported the program in 2006.While no figures were released, Portage Mutuals investment […]
By Canadian Underwriter | February 22, 2007
Willis Group Holdings, an international insurance broker, has announced the appointment of Richard T. Hynes as president and CEO of Willis Canada. Hynes possess more than 25 years of management and industry experience in the Canadian market, with market growth and business development being his key areas of focus within Willis. Since joining the company […]
By Canadian Underwriter | February 19, 2007
Joseph A. Hardy has been appointed account development executive of Compliance Management Inc. (CMI). Working out of CMIs Markham office, Hardy will be responsible for compliance risk management in Canada. With more than 20 years working with large corporations in the risk management field, Hardy has also served as the president of Ontario Risk & […]
By Canadian Underwriter | February 16, 2007
Marsh & McLennan Companies Inc. (MMC) reported a hefty 2006 Q4 profit of US$226 million, an increase of more than 500% over 2005’s final quarter.Full-year consolidated net income was US$990 million, compared with US$404 million in 2005.Risk and insurance services revenues in the fourth quarter increased 4% to US$1.4 billion, or 5% on an underlying […]
By Canadian Underwriter | February 14, 2007
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