Risk

Insurers should use more realistic capital stress tests: OSFI

Insurers will have to do much more realistic, believable capital stress testing in the wake of the damage done to Canadas asset-based commercial paper market, Canadas federal insurance regulator says. Canadas Superintendent of Financial Institutions, Julie Dickson, talked about the effects of the collapse of the U.S. subprime mortgage market earlier this year in her […]

By Canadian Underwriter | October 1, 2007

2 min read

Solvency II coming to Canada, increasing need for self-assessment

A capital adequacy model similar to Solvency II will be implemented in Quebec and Canada by 2011-2012, delegates of the National Insurance Conference of Canada in Montreal were told during the regulatory panel discussion.Jean St-Gelais, president and CEO of Quebecs Autorit des marches financiers (AMF), told the crowd that the AMF has been meeting with […]

By Canadian Underwriter | October 1, 2007

2 min read

Moves (October 01, 2007)

Claude Dussault is retiring from his post as president and CEO of effective Jan. 1, 2008. He will become chairman of the company after being elected by the ING Canada board. “Claude has been the main architect of our growth strategy,” Yves Brouillette, chairman of the ING board, said in a release. “Under his tenure […]

September 30, 2007

7 min read

McLarens forms partnership with Montreal adjusting firm

McLarens Canada, a global claims management firm, and Demers Zajac Vena Insurance Adjusters Inc. have formed a partnership between their respective firms effective Sept. 14, 2007. Demers Zajac Vena Insurance Adjusters Inc. is a commercial loss-adjusting group founded in Montreal in 1987. Its president is John Vena. Together with its private equity partner, Granite Partners, […]

September 30, 2007

1 min read