Claims
Guy Carpenter & Company, Inc., a global risk and reinsurance specialist and a part of the Marsh & McLennan Companies (NYSE: MMC), and affiliate of Guy Carpenter MMC Securities Corp., recently published their fourth annual joint study of natural catastrophe bond transaction activity, trends and market dynamics, which cites unprecedented growth across the catastrophe bond […]
By Canadian Underwriter | February 28, 2006
3 min read
In a report released Feb. 27, “DNA for Peace: Reconciling Biodevelopment and Biosecurity,” experts at the Canadian Program on Genomics and Global Health (CPGGH), part of the University of Toronto’s Joint Centre for Bioethics (JCB), calls for a global network of scientists to keep vigil against the misuse of biotechnology science and therefore counter bioterrorist […]
By Canadian Underwriter | February 27, 2006
Guy Carpenter & Company, Inc., a global risk and reinsurance specialist, has announced the development of a new online risk management platform, i-aXs, that is designed to reduce risk management analysis and reporting times from weeks to mere minutes.The new online technology provides insurance executives with the ability to leverage vast data repositories for better […]
2 min read
The Co-operators, have provided financial support to the Infant and Toddler Safety Association’s (ITSA) volunteer telephone hotline so that the Kitchener, ON-based, volunteer-run charity can, starting this month, offer expert child safety advice through their toll-free service. The Co-operators financial support to ITSA this year will total approximately $25,000, including the cost of the new […]
Even though underwriting results for property and casualty companies globally have improved markedly over the past few years, the ongoing challenge of attaining ultimately adequate reserves remains, according to a recent report by Standard & Poor’s.”Insurers and reinsurers appear no closer now than they were a year ago to achieving full reserve adequacy for 1997-2001 […]
By Canadian Underwriter | February 24, 2006
In anticipation of the conclusion of TRIA’s extension in 2007, Aon Risk Services has been encouraging clients to maintain their relationships with insurers in the stand-alone terrorism insurance market, or with those that build added protection into their all-risks policies by guaranteeing ‘full term’ TRIA coverage even if the act expires before the policy does, […]
1 min read
About 400 natural catastrophes and man-made disasters in 2005 accounted for 97,000 deaths and damages totalling more than US$230 billion, according to a Swiss Re report. Insurance covered about one third, or US$83 billion, of the damages. In the previous year, insured catastrophe losses had amounted to US$48 billion. “[Year] 2005 turned out to be […]
PXRE Group Ltd. (NYSE:PXT) recently reported a net loss before convertible preferred share dividends of $446.5 million for the quarter ended Dec. 31, 2005 compared to net income before convertible preferred share dividends of $32.8 million in the fourth quarter of 2004. The net loss in the fourth quarter of 2005 principally reflects losses from […]
By Canadian Underwriter | February 23, 2006
The insurance industry must compensate for extreme changes in the number of tropical cyclones and hurricanes by assuming a different loss distribution for the current warm phase of the natural climate cycle than in the years before, according to a report by Munich Re.The report, entitled “Hurricanes: More Intense, More Frequent, More Expensive,” says the […]
The multimillion-pound armed robbery of a storage depot in the United Kingdom near London is likely to be felt within Lloyd’s, which has a worldwide reputation for writing insurance for this kind of risk, according to a report by A.M. Best.The robbery involved the taking of a manager’s family as hostage, and occurred at a […]
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