Risk

What’s New: In Brief (September 17, 2007)

EGI Financial Holdings Inc. (“EGI”) has announced that its wholly owned subsidiary, Echelon General Insurance Company, is entering the Canadian emergency travel health insurance market through agreements with key distributors, which are expected to generate Cdn$16 million in annual premiums. Until earlier this year, EGI was prevented by a now-expired non-competition agreement from participating in […]

By Canadian Underwriter | September 17, 2007

2 min read

Risk

Contract certainty and shorter service time are key

Contract certainty and shortening service time are key areas to focus on in an effort to improve the service the insurance industry offers its customers, the insurers panel told delegates at the RIMS Canada Conference in Halifax, Nova Scotia. Richard Ward, CEO of Lloyds, commented on how surprised he was when he first entered the […]

By Canadian Underwriter | September 17, 2007

2 min read

Risk

Brokers battle over contingency fees at RIMS Canada, Halifax

The broker panel at this years Risk and Insurance Management Society Canada Conference in Halifax, Nova Scotia heated up when asked to comment on what has replaced contingency fees, with some suggesting that they are here to stay, and others arguing that focus needs to shift to delivering value.The panel, co-chaired by Kim Hunton, RIMS […]

By Canadian Underwriter | September 17, 2007

2 min read

Risk

Zurich streamlines operations

Zurich is streamlining operations in its Commercial Markets business unit harnessing multiple strengths to provide North American middle market customers and producers better access to comprehensive risk management products and services. We are making a number of important operational and organizational changes to make us even more flexible and responsive to the needs of our […]

By Canadian Underwriter | September 14, 2007

1 min read

Insurance companies sign up to tackle climate change

Sixteen insurance companies have signed up to be a part of a major initiative to tackle climate change and encourage more climate-friendly customer behaviour. Leading global insurers, reinsurers, brokers and Lloyds of London developed the principles behind ClimateWise to promote climate change. The principles, developed after nine months of intensive activity by a Working Group […]

1 min read

Political ramifications of ERM pose difficult hurdles

Risk managers need to be aware of the political ramifications when implementing an ERM [enterprise risk management] program, Susan Witcraft, managing director of Guy Carpenter & Company LLCs Instrat Team, Mid-America Region, told attendees of Guy Carpenters ERM seminar in Toronto.When developing and implementing an ERM program, four areas, including political, need to be given […]

2 min read

Celent report shows property and casualty e-business is on the rise

Property and casualty insurance e-business is a more important element of distribution strategy than it was three years ago, according to a report recently published by Celent.The report is based on survey data from 44 property and casualty insurer executives based in North America. Budget percentages devoted to e-business have remained steady at an average […]

1 min read

3% of insurers/reinsurers get an

Of the 241 global insurers and reinsurers evaluated in Standard & Poors (S&Ps) first ERM [enterprise risk management] scorecard, 81% of insurers and reinsurers received an adequate ranking for their ERM programs, and only 3% received an excellent.Of those assessed throughout 2006, 38% of them received a strong (35%) or excellent (3%) grade. Global reinsurers, […]

1 min read

Integro establishes West Coast presence

Integro Ltd., has expanded their operations to the West Coast with the opening of a Vancouver office, the firms third location in Canada.The four individuals hired to run the office all joined Integro from Marsh Canada, an Integro release says.They are: Michael Baddeley, principal, who served his previous firm as senior vice president specifically focused […]

1 min read

What’s New: In Brief (September 06, 2007)

The Co-operators has launched an insurance and risk management solution designed to address the challenges affecting the Alberta non-profit and volunteer industry. Community Guard, launched with the support of Volunteer Alberta, is a pilot project available to non-profit and volunteer-run organizations in Alberta. Community Guard offers insurance protection, as well as detailed assessments of each […]

1 min read