Claims
The traditional Sedgwick Pub Night — courtesy of Marsh Canada Limited, held on the Monday night at The New Palace gave delegates, attendees and exhibitors a chance to let the sails out and enjoy some grog in traditional hearty Halifax fashion, to the live music of Marsh’s very own Tabloid. All revelers were buoyed-up and […]
November 30, 2007
1 min read
Canadian catastrophe models should place more emphasis on wildfires and heavy rain, according to Paul Kovacs, executive director, Institute for Catastrophic Loss Reduction (ICLR). Kovacs made his statement at the National Insurance Conference of Canada (NICC) in Montreal. His comment is echoed in a recent report written by Glen Daraskevitch, vice president of risk modelling […]
2 min read
Sails were set and anchors were away at the RIMS Canada Conference in Halifax, as The ARC Group Canada (a national network of independent law firms) hosted clients and guests for a memorable evening sailing aboard The Bluenose II in Halifax Harbour. •
If a danger related to the use of a product is not obvious, and a consumer seeks reassurance from a merchant concerning the safety of the product, the answer must not be misleading, the Ontario Court of Appeal has found in a recent product liability case. In Walford v. Jacuzzi Canada Ltd., MarionWalfordwanted to install […]
3 min read
The 41st annual education seminar, best known as the Joint Seminar, co-sponsored by The Canadian Insurance Claims Managers Association and the Ontario Region of The Canadian Independent Adjusters’ Association, is set to go at the Metro Toronto Convention Centre on Jan. 29. This is a major event on the Canadian claims calendar, bringing together claims […]
The Loyalist Insurance Group Limited reported a Q3 2007 net loss of Cdn$94,143 compared to a net income of Cdn$143,953 for the same period in 2006.The decrease in revenue was due to the non-renewal of a few commercial accounts in the quarter and comparatively from the sale of a customer list that began in Q3 […]
By Canadian Underwriter | November 29, 2007
Insurance-linked securities (ILS) will not be able to provide adequate coverage for terrorism risk for the foreseeable future, warns a Swiss Re report.Because the ILS market is still in its infancy and terrorism risk has limited insurability, a sufficient market for terrorism bonds may never develop, Swiss Re researchers wrote.Issuance in 2006 of catastrophe bonds, […]
By Canadian Underwriter | November 28, 2007
Canada needs a formal, public-private, risk-sharing pool to provide businesses with coverage against the risk of terrorist attacks, Lloyd’s of London chairman Lord Peter Levine indicated in a prepared address to The Empire Club in Toronto.Fighting a spell of the flu and laryngitis, Levine read part of his speech aloud and then turned the podium […]
Reinsurers are shuffling the mix of their property and casualty lines in an environment of declining catastrophes and deteriorating rates, according to A.M. Best.As our casualty lines have shrunk, property has become a larger part of the portfolio than in years past, Andy Barnard, CEO of Odyssey Re Holdings, told A.M. Best. Given the negative […]
By Canadian Underwriter | November 26, 2007
The average risk of landfalling hurricanes in the Atlantic Basin for the next five years remains at significantly above the risk averaged over the long term, warns Risk Management Solutions (RMS).The current activity rates lead to estimates of average annual insured losses that will be 40% higher than those predicted by the long-term mean of […]
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