Risk
Improving data quality is regarded as a key issue for risk management and regulatory requirements including Basel II, the Markets in Financial Instruments Directive (MiFID), and Sarbanes-Oxley are driving investments in IT, according to a 2005 AIM Global Data and Risk Management Survey.”The results show companies see the close connection between reference data management and […]
By Canadian Underwriter | November 11, 2005
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), […]
By Canadian Underwriter | November 9, 2005
Children involved in motor vehicle crashes may be at risk of suffering acute stress disorder (ASD) symptoms after the crash according to research based on a range of crash data from reports submitted to State Farm Insurance Companies, which indicates that 2% of children and 5% of their parents will likely experience life disrupting multiple […]
By Canadian Underwriter | November 7, 2005
Kingsway Financial Services Inc. (TSX:KFS) saw a third-quarter profit increase of 22.5% due to a decrease in expenses, which resulted in offsetting a drop in revenues.The insurer of high-risk drivers also reported a net income of $37.5 million ($0.66 per share) for the 3Q of 2005, which represents an increase from $30.6 million ($0.54 per […]
By Canadian Underwriter | November 4, 2005
1 min read
Commercial insurance buyers are changing brokers, and company risk managers are more actively participating in the placement process and verifying broker information in the wake of regulatory investigations facing the insurance industry, an Advisen Ltd. study has found. In a survey of more than 500 corporations and governmental entities by Advisen, a provider of analytics, […]
Marsh & McLennan Companies, Inc. (MMC) reported its net income in the third quarter tripled from $21 million to $65 million.”Marsh’s parent company, MMC, continued in the quarter to make progress and take the steps which will make it a better and more profitable company next year,” Michael G. Cherkasky, MMC president and CEO, said […]
By Canadian Underwriter | November 1, 2005
Hurricane Katrina has reinsurers talking about how to handle record-breaking catastrophe losses as the 2006 renewal season begins. Already there is talk of price hikes and signs of public share offerings. How much of this is a long-term reaction to losses arising out of hurricanes, and what other issues face the reinsurance market as we enter the Post-Katrina world? We've asked 11 prominent reinsurance contributors to answer these questions and more.
October 31, 2005
17 min read
Celebrating the TIC's 50th annual Black Tie event, TIC president Justin MacGregor reflects on his organization's ties to community
6 min read
Architects, engineers and design professionals face numerous exposures when it comes to building defects, contractual issues and litigation. Ontario's Bill 124 aims to address this issue with mandatory professional liability insurance, tests for building code knowledge and a registration process for all building designs. The big question for insurers, architects and engineers is: will the legislation actually achieve its purpose?
By Craig Harris | October 31, 2005
9 min read
Corporate board executives need to be active members of their companies' risk management committees in order to properly manage the business risks they face, a RIMS Canada panel heard in September. Companies should also consider hiring a risk manager, if they haven't done so already, because many risks are observable only by people who have witnessed the company's behaviors over a long period of time.
4 min read
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