Claims
Hub International Limited (TSX:HBG) recently reported its 2Q and first-half revenue rose sharply, reflecting both the benefits of acquisitions and strong organic growth. Revenue for the quarter ended June 30, 2005 increased 37% to US$112.7 million from US$82.2 million a year earlier. Net earnings declined, as expected, due to the impact of a non-cash stock […]
By Canadian Underwriter | July 27, 2005
4 min read
Everest Re Group, Ltd. (NYSE: RE) recently reported second quarter 2005 after-tax operating income, which excludes realized capital gains and losses, of $173.3 million, or $3.03 per diluted share, a nominal decrease compared to $174.4 million, or $3.07 per diluted share, in the second quarter of 2004. Second quarter 2005 net income decreased 26.4% to […]
By Canadian Underwriter | July 26, 2005
2 min read
The cost and duration of construction and demolition projects in Ontario may be set to increase significantly as a result of new provincial asbestos regulations. These increases will tap into the pockets and schedules of building owners and operators but will also protect building occupants and asbestos, demolition and construction industry workers. The new regulation […]
By Canadian Underwriter | July 20, 2005
A federal terrorism insurance backstop is likely to be implemented but observers say it may not be as thorough as the 2002-implemented Terrorism Risk Insurance Act, ending Dec. 31.Under testimony the Treasury Secretary John W. Snow says the Bush administration would not support an extension of TRIA in its current form.Furthermore, Snow a recent report […]
By Canadian Underwriter | July 15, 2005
The National Hurricane Center recently upgraded Hurricane Emily to a dangerous Category 3 storm, and Jamaica issued a hurricane watch for the island.The Dominican Republic and Haiti issued a tropical storm warning for much of the island they share. A tropical storm warning is in effect for Bonaire, Curacao and Aruba.Recently, maximum sustained winds were […]
By Canadian Underwriter | July 14, 2005
1 min read
Officials investigating a finite reinsurance deal executed in 2000 by General Reinsurance Corp. and American International Group Inc. are examining whether Gen Reinsurance Corp’s current chief executive officer, Joseph P. Brandon, is being investigated regarding whether or not he had a role in the deal between General Re. and American International Group (AIG) according to […]
Almost immediately after London’s deadly terrorist bombings, Canada’s 24-hour emergency preparedness system kicked into effect and worked as intended. However, in a recent speech at an international conference on disaster management, federal public safety Minister Anne McLellan also highlighted the need to ensure close collaboration between mass transit systems and shore up training for security […]
By Canadian Underwriter | July 12, 2005
B.C. Ferries are continuing to experience trouble with vessels, as another ferry recently lost power last night while approaching a berth in the southern Gulf Islands. Before it docked at Sturdees Bay on Galliano, the Queen of Cumberland lost three of four engines, dropping anchor until engineers were able to restart engines and conduct tests. […]
ING’s insurance subsidiaries are assisting more than 5,000 customers to clean up and repair the water and hail damage incurred as a result of recent storms in southern Alberta. Jetse de Vries, chief operating officer for ING Canada, Western Region, says the Company’s brokers and response team have been assembled since the first storms hit, […]
By Canadian Underwriter | July 8, 2005
Recent terrorist attacks in London were strategically formulated to occur during the G8 meeting a tactic that risk analysts from Risk Management Solutions (RMS) say is characteristic of a Islamic militant terrorist attack., according to terrorism risk analysts at Risk Management Solutions (RMS). RMS theorized its findings based on its global terrorism risk model, which […]
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