Risk
Trisura Guarantee Insurance Company has expanded into Quebec with the launch of its Montreal office. The new location will be headed-up by Jose Levesque, manager of corporate risk, and Jean-Franois Therrien, manager of surety.Levesque is responsible for underwriting and marketing the company’s directors’ and officers’ liability, professional liability and fidelity products across Quebec.She has extensive […]
By Canadian Underwriter | December 18, 2006
1 min read
Corporate governance is likely to remain an area of relevance and concern in 2007, according to a recent report by Standard & Poor’s.”While the numerous corporate governance reforms, laws, and code implemented earlier in the decade in markets around the world have in many ways improved governance standards globally, governance issues continue to present challenges […]
By Canadian Underwriter | December 14, 2006
2 min read
EGI Financial Holdings Inc. has entered the United States non-standard automobile insurance market, signing a reinsurance treaty with AssuranceAmerica Insurance Company (AAIC).AAIC has accepted EGI Financial Holdings’ authorization to underwrite 17.6% of AssuranceAmerica’s 2007 quota share reinsurance treaty. Under this reinsurance agreement, Echelon will accept a maximum of US$15 million of non-standard automobile premiums in […]
By Canadian Underwriter | December 13, 2006
A Nov. 30 Hamilton fundraiser raised about $100,000 for Sean Corner, a rugby star who was paralyzed during a game just prior to learning the team’s insurance had been cancelled. More 1,200 people industry colleagues attended the fundraiser, which was held at at Michelangelo Banquet Centre in Hamilton, Ontario. The event was titled: “We Are […]
By Canadian Underwriter | December 11, 2006
The Supreme Court of Canada is hearing two cases that, taken together, will help define what constitutes a “car accident.”The twin Ontario cases each dealing with “auto” claims that, on their face, are only tangentially related to the autos involved have been on the insurance industry’s radar for some time. Insurance companies are concerned that […]
A food-contamination crisis can leave a restaurant with a hefty clean-up bill, says A.M. Best, but few realise that the financial damage that comes in the wake of the eatery’s tarnished reputation is seldom insured. Pam Ritz, president of Specialty Risk Management, a crisis manager for Lloyd’s underwriters, told BestWeek that “traditional insurance, conceptually, tends […]
Developing and implementing enterprise risk management (ERM) within a firm is essentially on par with invoking a cultural shift in a company’s operations, actuaries were told at the Casualty Actuarial Society (CAS) annual meeting.Thomas Hettinger, managing director of EMB America LLC, explained that ERM is a process of identifying risk, assessing risk, transferring risk and […]
Net income for 13 major U.S. reinsurers rose to US$6 billion for the first nine months of 2006, compared to a break-even position during the same period last year, according to Benfield.The reinsurance and risk intermediary’s U.S. quarterly report revealed the positive result was prompted by a 30-percentage-point fall in the loss ratio. The weighted […]
By Canadian Underwriter | December 8, 2006
Dale-Parizeau LM and Morris & Mackenzie Inc. will merge to become Dale-Parizeau Morris Mackenzie Inc.This new incarnation will become Quebec’s largest independent and privately owned insurance broker.The company will write more than Cdn$200 million of premium with 400 staff operating out of five offices throughout Quebec, and one service office in Ontario.Maurice Sauve, president and […]
The Canadian team at Willis Group Holdings has appointed Joe Beesack as the senior vice-president of its alternative risk solutions practice. Beesack’s focus will be on loss forecasting, deductible optimization, risk modeling, captive assessment and feasibility studies. His area of specialization includes the development of computerized applications that reflect the complexities of sophisticated risk financing […]
By Canadian Underwriter | December 7, 2006
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