Risk
Kingsway Financial Services Inc. (TSX:KFS,NYSE: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.”We are pleased to have entered into an agreement with The […]
By Canadian Underwriter | November 23, 2005
2 min read
Making risk management strategies available to small businesses and volunteer-based operations in Atlantic Canada should help improve the availability and affordability of insurance in the area, a task force has recommended.Established in February 2005, the Atlantic Task Force on Insurance Availability and Affordability released its final report in November 2005. The report contains a number […]
The insurance industry is sponsoring Operation Red Nose in Ontario, Alberta and the Atlantic provinces this year. The popular program offers a volunteer designated driver service for holiday revelers while raising money for charity (The service is free, but donations are accepted). “It’s a natural extension of our industry’s long-standing commitment to road safety” Mark […]
By Canadian Underwriter | November 22, 2005
The insurance sector will continue to be a significant player in the “opaque” credit derivatives market, says the Fitch ratings agency.Fitch surveyed the activities of 120 financial institutions 73 banks and broker-dealers, 39 insurance companies and reinsurers, and eight financial guarantors in credit derivatives markets throughout the world.A credit derivative is a contract between parties […]
By Canadian Underwriter | November 18, 2005
1 min read
Standard & Poor’s Ratings Services has removed Swiss Reinsurance from CreditWatch with negative implications, where they were placed Sept. 9, 2005.S&P has affirmed a counterparty credit and financial strength rating of ‘AA’ for Swiss Re and its core operating companies, although the outlook is negative.Following discussions with Swiss Re’s management, Standard & Poor’s says it […]
By Canadian Underwriter | November 17, 2005
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.In a press release, Greg Case, Aon’s president and CEO, said: “We believe Swett & Crawford has a great […]
Aon Corporation (NYSE: AOC) is seeking a new owner for its warranty, credit insurance and property & casualty underwriting businesses.Greg Case, Aon’s president and CEO, says “by exploring alternatives, we expect to determine if the potential of our warranty, credit and property & casualty businesses can be more fully realized under different ownership.”Aon Corporation provides […]
By Canadian Underwriter | November 16, 2005
The Risk and Insurance Management Society, Inc. (RIMS) is planning to become the premiere resource and support organization for Enterprise Risk Management (ERM). In the months ahead, RIMS plans to prepare new resources to support organizational implementation of enterprise risk management. “As we head towards the future of the risk management industry, RIMS will be […]
By Canadian Underwriter | November 14, 2005
The Traffic Injury Research Foundation (TIRF) and the Insurance Bureau of Canada (IBC) have released a study that calls for measures to improve graduated driver licensing (GDL) across the country.The report calls on provincial governments to improve GDL programs by limiting the number of teenage passengers in GDL programs, raising the age of supervisory drivers, […]
The Office of the Superintendent of Financial Institutions has issued Atradius Credit Insurance, NV, Canada Branch, a license to sell trade credit insurance in Canada.Majority owned by Swiss Re and Deutsche Bank, Atradius is a leading credit insurer with total revenue of approximately $1.6 billion. It insures about $370 billion of worldwide trade annually against […]
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