Risk

ICBC to restructure rates so high-risk drivers pay more

ICBC is structuring its rates over the next two years so that lower-risk drivers will be paying lower rates, while higher-risk customers will pay higher rates. “Higher rates for high-risk drivers means benefits for good drivers,” said Paul Taylor, ICBC’s president and CEO. “Drivers need to drive more safely or they will pay higher premiums.” […]

March 31, 2007

1 min read

Risk

Global businesses see loss of data as a key risk management threat

One in three global businesses see loss of data as a significant threat and a key issue to address in operational risk management planning, according to the latest global risk report conducted by the Economist Intelligence Unit (EIU) and sponsored by ACE European Group (ACE). The survey of 181 senior executives and risk professionals revealed […]

March 31, 2007

2 min read

Risk

Plaintiff lawyers pushing the damages envelope: ORIMS seminar

Plaintiff lawyers are increasingly trying to convince the courts of specific damages, which used to be part of general damages, in a bid to get damage amounts above and beyond the cap on non-pecuniary damages, people attending the Ontario Risk and Insurance Management Societys (ORIMS) Professional Development Day were told.In his presentation, entitled Calculating Damages: […]

By Canadian Underwriter | March 29, 2007

2 min read

Risk

What’s New: In Brief (March 28, 2007)

The Dominion of Canada General Insurance Company has teamed up with Guidewire Software to modernize and replace The Dominions existing legacy claims system in order to better serve the needs of its policyholders and its network of independent brokers. The Dominions phased ClaimCentre roll-out started with 35 adjusters and will include 300 adjusters by the […]

By Canadian Underwriter | March 28, 2007

1 min read

What’s New: In Brief (March 27, 2007)

CGI Insurance Business Services has moved to a new location, at 150 Commerce Valley Drive, in Markham Ontario.All business units, including CGI Information Solutions and Services, CGI Insurance Company Systems, CGI Adjusters Inc. and CGI Risk Management Solutions will now operate together in one central location.The consolidation of our units to Commerce Valley Drive will […]

1 min read

Aon launches global risk consulting unit

Aon Corporation has further consolidated its services with the formation of Aon Global Risk Consulting (AGRC), creating one of the largest dedicated risk consulting, captive management and risk engineering groups in the world.The formation of AGRC follows the launch of Aon Global in January and is the latest step by the company in bringing all […]

1 min read

U.S. securities regulator eases reporting requirements for foreign issuers

The United States Securities Exchange Commission [SEC] has officially made it easier for foreign companies to terminate their SEC registration, thus making it easier to cease their reporting obligations under the Sarbanes-Oxley Act.Smaller foreign companies in particular have criticized the SECs reporting requirements for being costly and onerous. Risk managers have been working to help […]

2 min read

Data loss a significant global risk, survey finds

One in three global businesses see loss of data as a significant threat and the key issue to address in operational risk management planning, according to the latest global risk briefing report conducted by the Economist Intelligence Unit (EIU) and sponsored by ACE European Group (ACE).The survey of 181 senior executives and risk professionals revealed […]

2 min read

First risk management system for nano-technology developed

The Innovation Society Ltd. (St. Gallen, Switzerland), a nanotechnology consulting firm, and technology company TV SD (Munich, Germany) have developed the first certifiable nano-specific risk management and monitoring system, the Innovation Society announced in a press release. The system, called CENARIOS, provides a “state-of-the art” hazard and risk assessment, encompassing risk monitoring tools to minimize […]

1 min read

What’s New: In Brief (March 14, 2007)

CanAm Special Risk Agency Limited (CanAm Insurance) has acquired the travel insurance book of business from PrimeLink Management Services Inc., Broker Advantage Inc. and the Pentius Group. The travel medical insurance products, marketed under the brand names PrimeLink, Travel Protect and TravelRite, are offered across Canada through well-established channels. The policies are administered by CanAm […]

2 min read