Risk
Insurers can pursue a number of new opportunities in the emerging alternative energy market
By Steve Smith, Partner, Jones Brown Inc. | June 30, 2006
5 min read
The insurance industry must face up to the growing threat of climate change or risk being swept away, according to Lloyd’s of London. A new report, ‘Climate Change, Adapt or Bust,’ published by Lloyd’s, warns that insurers must act now to understand and actively manage risks from emerging threats such as greenhouse gases and rising […]
June 30, 2006
2 min read
The Autorit des marchs financiers (AMF) has published a working document on the regulation of derivatives markets in Qubec. The document outlines the orientation the AMF is taking for the development of a proposed regulatory framework. The approach is for the regulator to identify several key “core principles” with which regulated entities will comply. The […]
Standard & Poor’s Ratings Services (S&P’s) has changed the criteria for its Enterprise Risk Management (ERM) assessment process. In its report entitled “Insurance Criteria: Refining The Focus Of Insurer Enterprise Risk Management Criteria,” S&P’s shows how the new criteria will become part of its counterparty credit and financial strength ratings. S&P’s says the new criteria […]
At the Risk and Insurance Management Society (RIMS) 2006 Conference in Honolulu, HI, Roger Andrews, director of risk management for E.D. Bullard Co., accepted the society’s distinguished Harry and Dorothy Goodell Award. Andrews accepted the RIMS award for “furthering the goals of risk management and RIMS through outstanding achievement.” Andrews has been an active RIMS […]
4 min read
Integro (Canada) Ltd. has appointed Wayne Snow as principal for the company’s Toronto office, where he will lead and develop Integro’s Canadian construction practice.Snow has 30 years of experience in risk management and commercial insurance, most recently serving as senior vice president, risk and insurance, for AMEC Americas in Toronto.Prior to joining AMEC, Snow spent […]
By Canadian Underwriter | June 29, 2006
1 min read
The notional value of weather risk management contracts increased nearly five-fold over the past year from US$9.7 billion in April 2005 to US$45.2 billion as of March 2006.The Weather Risk Management Association (WRMA), an international trade organization of the weather risk management industry, compiled the figures for its annual survey of the industry. “The explosive […]
By Canadian Underwriter | June 28, 2006
The developer of the World Trade Center (WTC) Larry Silverstein alongside The Port Authority of New York and New Jersey are suing the seven WTC insurers due to payment delays, which the Port Authority says are required if the site is to be rebuilt.The action, filed in the Supreme Court of the State of New […]
By Canadian Underwriter | June 27, 2006
Standard & Poor’s Ratings Services has revised its outlook on Germany-based Munich Reinsurance Co. and its core operating entities to positive from stable. In addition, the ‘A+’ counterparty credit and insurer financial strength ratings on Munich Re and related core entities were affirmed. “The outlook revision reflects the significant progress the group has made in […]
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