Risk
Mr. Santa Claus 1 Reindeer Way North Pole H0H 0H0 Dear Santa: As year-end approaches, we are writing to provide you with a brief summary of some of the legal issues that arose on the Risk Management side (pertaining to your North Pole operations in 2005). As you are aware, our largest single challenge this […]
By William Blakeney, Blakeney Henneberry Murphy | November 30, 2005
7 min read
International risks to Canadian insurer solvency
By Darrell Leadbetter, Paul Kovacs and Jim Harries PACICC | November 30, 2005
8 min read
Globalization has been around for some time. When you think about Marco Polo going East to open trade routes with the Asian kingdoms in the 13th Century or the Europeans sailing West to the Americas since the 15th Century, they were “globalizing” their economies. Today, globalization’s trade winds are blowing strong once again, and the […]
By Daniel Galvao, head of financial products practice at Marsh Canada Limited | November 30, 2005
Kingsway Financial Services Inc. (TSX:KFS) has entered into a program management agreement with The Robert Plan Corporation (‘RPC’) to provide additional underwriting capacity to assume the policies serviced by RPC. The agreement is effective for new and renewal business on and after January 1, 2006. “This transaction is consistent with our strategy of growing our […]
November 30, 2005
1 min read
Aon Corporation (NYSE: AOC) has sold its U.S.-based wholesale broking operation, Swett & Crawford, to an investor group including Hicks, Muse, Tate & Furst Inc. and Banc of America Capital Investors. Terms of the sale were not disclosed. News of the sale comes just days after Aon Corporation announced it was seeking a new owner […]
The Atlantic Task Force on Insurance Availability and Affordability recently released its final November 2005 report, which recommended that risk management strategies should be made available to small businesses and volunteer-based operations in Atlantic Canada as this will help improve the availability and affordability of insurance in the area. The Insurance Bureau of Canada (IBC) […]
2 min read
A recent poll meant to assess mold’s financial impact on the real estate market indicates that 60% of builders and real estate lenders are hearing that fear of mold problems existing on a property is the reason individuals are backing out of real estate transactions. The poll, conducted by consulting firm Environmental Assurance Group (EAG), […]
Winterthur Group is selling Winterthur Canada Financial Corporation and its wholly owned subsidiary, The Citadel General Assurance Company, to AXA Canada Inc. a wholly-owned subsidiary of AXA S.A. – for approximately Cdn$310 million.The sale of its Toronto-based operations completes Winterthur’s withdrawal from the Canadian market, following the previous sale of its Quebec subsidiary, L’Unique. Subject […]
By Canadian Underwriter | November 30, 2005
“Convergence products” will play a critical part in the competitive landscape of the property-casualty industry even though they only represent a small segment, according to a new study by Conning Research and Consulting, Inc.The study, titled ‘Evolution in Risk and Capital Management: New Value Propositions for P&C Insurers/Reinsurers,’ explores the history of convergence products to […]
By Canadian Underwriter | November 29, 2005
Integro Ltd. has expanded into the London, England marketplace, acquiring Humphreys Haggas Sutton & Co. Ltd (HHS).HHS is a Lloyd’s broker founded in 1994 by its three principals, Toby Humphreys, Simon Haggas and John Sutton. Integro has received regulatory approval from the Financial Services Authority for the change in control. The name of the firm […]
By Canadian Underwriter | November 24, 2005
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