Risk
Risk managers’ may see their jobs ease up if a bill meant to ease regulatory burden that is placed on surplus lines insurers is passed according to a recent congressional panel discussion. Risk & Insurance Management Society Inc. vice president Janice Ochenkowski told the House Financial Services’ Committee’s Subcommittee on Capital Markets, Insurance and Government […]
By Canadian Underwriter | June 23, 2006
2 min read
SGI Canada has begun selling insurance products and services in Alberta, the Crown corporation announced in an online posting.”We’re very pleased to enter the Alberta market as it holds great potential for growth for SGI Canada,” SGI Canada president Jon Schubert said. “We’re already familiar with Alberta because of its close proximity and similarities to […]
By Canadian Underwriter | June 22, 2006
1 min read
Three out of four Autopac customers could pay less for auto insurance next year because of a 2.6% rate cut made possible by expected reductions in auto theft, according to Manitoba Public Insurance (MPI).MPI has filed a rate application with the province’s Public Utilities Board that would reduce the cost of Basic Autopac for nearly […]
By Canadian Underwriter | June 20, 2006
Reinsurance demand is up, capacity is down, and that has led to a focus on internal growth, a higher tolerance of lower-rated reinsurers, and a proliferation of alternative capital sources such as sidecars, catastrophe bonds and securitizations, according to a panel discussion conducted by Standard & Poor’s.Reinsurers’ growth models have notably shied away from merger […]
By Canadian Underwriter | June 19, 2006
Integro recently established its Aviation Practice with the appointment of Edward Nicholls to the position of managing principal and aviation practice leader. Offering 25 years of experience in the aviation sector, Nicholls comes to Integro from Aon Corporation, where he served as an executive vice president for 13 years. Previously he served as chief operating […]
By Canadian Underwriter | June 14, 2006
Sedgwick CMS Holdings, Inc. recently signed a definitive agreement to acquire CompManagement, Inc. and its affiliated companies.The acquisition is facilitate through a merger of a subsidiary of Sedgwick CMS Holdings and CompManagement’s parent company, Security Capital Corporation (AMEX: SCC), for a cash purchase price of approximately US$191.5 million. CompManagement and its affiliates provide third-party claims […]
By Canadian Underwriter | June 13, 2006
Swiss Re has partnered with RNK Capital LLC (RNK), a New York-based private investment firm specializing in the U.S. and international environmental markets, to provide the carbon markets’ first insurance product for managing Kyoto Protocol-related risk in carbon credit transactions. “The insurance product enables RNK to mitigate a key risk factor in carbon credit transactions […]
Fitch Ratings has released its proposed guidelines for assessing insurance companies’ internal capital models.”Fitch Ratings welcomes the use of in-house capital models developed by insurers as an important part of the enterprise risk management of these organizations,” the agency says in an online posting announcing its new guidelines for assessment.Fitch went on to note that […]
By Canadian Underwriter | June 7, 2006
Standard & Poor’s Ratings Services recently made some major additions and revisions to its Enterprise Risk Management (ERM) assessment process and has clarified in a report titled “Insurance Criteria: Refining The Focus Of Insurer Enterprise Risk Management Criteria,” what these criteria are meant to be and what they are not. S & P’s incorporated the […]
By Canadian Underwriter | June 6, 2006
American International Group Inc. and Chubb Corp. may pay CD$50 million to cover a settlement involving a suit against past directors of Hollinger International Inc., Ontario Superior Court Judge Colin Campbell recently ruled.The minority Hollinger shareholder Cardinal Capital Management LLC said it would accept the CD$50 million payment and in exchange drop its suit which […]
By Canadian Underwriter | June 2, 2006
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