Risk
Although corporate social responsibility is an important part of risk mitigation, companies do not incorporate this realization into their practical, day-to-day risk management strategies, according to an article published in CMA Management.The connection, the CMA article suggests, is that “if you handle local environmental and social issues proactively, they don’t become a problem or a […]
By Canadian Underwriter | January 22, 2007
1 min read
The Co-operators are making major overtures to sustainable energy operations with grants totaling $50,000 to threeOntario-based wind energy organizations, according to a recent press release.The Toronto Renewable Energy Co-operative (TREC) is a not-for-profitenergy co-operative that erected the first urban wind turbine in NorthAmerica. The Co-operators second grant of $10,000 will supporteducation, outreach and volunteer development […]
By Canadian Underwriter | January 18, 2007
**CORRECTON NOTICE**[Editor’s Note: The following news item corrects errors that appeared in a Jan. 16, 2007 item entitled ‘What’s New: In Brief.’] John R. Mulvihill has been appointed chief operating officer and senior vice president of the Boiler Inspection and Insurance Company of Canada (BI&I).Gary Young has been appointed senior vice president of field operations. […]
By Canadian Underwriter | January 17, 2007
Following on the launch of a new Insurance Bureau of Canada (IBC) campaign about driver distractions, IBC president Stanley Griffin will be speaking to the Canadian Club at the Fairmont Royal York Hotel in Toronto on Jan. 19.Griffin will present results from the IBC’s latest research into driver distractions.He will discuss, for example, whether there […]
By Canadian Underwriter | January 16, 2007
2 min read
The cost of D&O insurance in Canada continues to rise and company leaders are becoming more informed about their exposure to risk and potential liabilities, says a survey by Spencer Stuart.The Spencer Stuart Governance Lexicon 2007 contains entries on 19 countries with the aim of providing a reference guide on board structures in different markets. […]
By Canadian Underwriter | January 15, 2007
Canadian Securities Administrators (CSA) will be requiring the registration of hedge fund managers and will also be looking to improve referral arrangements to hedge funds and the distribution and sale of Principle Protected Notes (PPNs).Its proposals are a result of the regulators’ review of hedge funds in Canada, which began in early 2005 and continued […]
By Canadian Underwriter | January 12, 2007
Fitch Ratings has published details about its new financial guaranty capital model called Matrix.The key measure in the model is the Core Capital Adequacy Ratio (CCAR), which is derived from the following two basic measures: The total Adjusted Claims-Paying Resources (ACPR), and The total Required Claims-Paying Resources (RCPR). ACPRComponents making up an insurer’s ACPR include […]
By Canadian Underwriter | January 9, 2007
Crawford Adjusters Canada has shuffled their staff with three major appointment announcements.Debbie Laxton will assume the role of head office supervisor for the company’s accident benefits division, Lise Papillon will take the reins of Crawford’s Quebec operations, and Troy Quigley will be charged with managing the Montreal branch office. Laxton began her career with Crawford […]
A.M. Best Co. has upgraded the financial strength rating of Arch Reinsurance Ltd. (Arch) (Bermuda) and its reinsured affiliates, including Arch Insurance Company (Canada), the only Canadian-licensed Arch entity, to A from A-.The outlook on the rating is stable.A.M. Best noted the upgrade in the rating of Arch Reinsurance Ltd. (Bermuda), which provides explicit support […]
“Model steward” positions should be created within organizations to better align actuarial and IT departments, according to the Insurance and Actuarial Advisory Services (IAAS) practice of Ernst & Young LLP.Both actuarial and IT departments are critical in conducting companies’ risk management assessments; as such, there should be a better alignment between the two departments, Ernst […]
By Canadian Underwriter | January 8, 2007
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