Risk

Guy Carpenter increases presence in Bermuda

Guy Carpenter & Company LLC, a global risk and reinsurance specialist, has appointed a new Head of Office and expanded its office capabilities and resources in the Bermuda reinsurance market. It has been a landmark year for Guy Carpenter, as we have made an enormous investment in the Bermuda marketplace, said Kevin Fisher, the head […]

By Canadian Underwriter | June 26, 2007

2 min read

Risk

Top companies not using captives to full potential

Contrary to popular belief, the captive market remains underdeveloped and more than half of the world’s top 1,500 companies (G1500) do not currently own a captive, according to research by Aon Global Risk Consulting.This means that insurance buyers within the worlds largest companies are failing to achieve a better quality of cover as well as […]

By Canadian Underwriter | June 26, 2007

1 min read

Risk

FA proposed amendments shot down

The Facility Association (FA)s proposed framework to make it easier to create risk sharing pools (RSPs) in a given jurisdiction has been shot down in a member mail vote. In order to pass, the Plan of Operation amendments, would require 51% of all eligible votes within 60 days of the mail vote being sent out.With […]

By Canadian Underwriter | June 26, 2007

2 min read

Risk

SRPI launches product designed for Canadian golf courses

Signature Risk Partners (SRPI) Inc. has launched a property and casualty product designed for Canadian golf course owners, with coverage extending from property and equipment, business interruption, crime and commercial general liability.The Signature Golf insurance program was created after a two-year research study of the golf industry, and is a custom solution specifically designed for […]

By Canadian Underwriter | June 25, 2007

1 min read

Canadian carriers lagging in service: survey

Canadian carriers scored the lowest in terms of quality of underwriting, policy administration and service when compared with the United States, London and Bermuda carriers in Willis Groups inaugural Carrier Evaluation Survey.In terms of claims, Canadians nudged ahead of Bermuda-based carriers for third place.The results of the programme are based on a survey of 2,500 […]

1 min read

What’s New: In Brief (June 21, 2007)

Kingsway Financial Services Inc. has announced its newly-formed, wholly-owned subsidiary, Kingsway 2007 General Partnership, has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada for a proposed public offering of senior unsecured debentures.The offering will be jointly and severally guaranteed by Kingsway and Kingsway […]

2 min read

Teenage drivers’ records improving

A decrease in teen auto collisions may be related to graduated licensing laws, suggests an Insurance Institute for Highway Safety (IIHS) report. According to the US report, based on crashes of all severities, the crash rate per mile for 16-19 year-olds is four times the rate for drivers 20 and older, with the risk being […]

2 min read

RMS launches reinsurance software

Risk Management Solutions (RMS) has launched a software platform that aims to enable insurance industry professionals to gain a more comprehensive view of their portfolio risk. “The Reinsurance Platform will help insurance, reinsurance, and catastrophe management professionals to reduce uncertainty in modelled losses, build a deeper understanding around regional accumulations of risk, and make better-informed […]

1 min read

What’s New: In Brief (June 18, 2007)

The Risk and Insurance Management Society (RIMS) has sponsored publication of a new handbook to help people make sense out of that nebulous area known as Enterprise Risk Management (ERM). The title of the book which would be familiar to anyone who sees the ubiquitous presence of its yellow-and-black design in bookstores through the country […]

1 min read

Insurance agents challenge RIMS on contingent commissions

The National Association of Professional Insurance Agents (PIA) in the United States has criticized a statement issued by the Risk and Insurance Management Society (RIMS), saying the groups position on incentive compensation undermines the free enterprise system.RIMS, the nations largest association of commercial insurance buyers, earlier issued a public statement saying it was disappointed to […]

2 min read