Insurance & Risk, Analysis, Events and Careers
Risk
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.”For implementation […]
By Canadian Underwriter | March 13, 2007
2 min read
ACE INA Insurance and ACE INA Life Insurance, part of the ACE Group of Companies, has appointed Karen Barkley as president and CEO of ACE Canada.She succeeds Daniel Courtemanche, who is now the president and CEO of GCAN Holdings Inc., part of the Ontario Teachers Pension Funds Ontario teachers Private Capital.Barkley was previously the chief […]
By Canadian Underwriter | March 12, 2007
1 min read
A.M. Best Company Inc. has put out a call for comments from market participants in the insurance industry and other interested parties on a draft of its Risk Management and the Rating Process for Insurance Companies.The draft methodology outlines how risk management is incorporated into the overall rating process, including the development of capital requirements […]
By Canadian Underwriter | March 7, 2007
March marks National Fraud Prevention Month, and the Insurance Bureau of Canada (IBC) plans to release information throughout the month to help educate about and prevent this type of crime.Insurance fraud is big business, said Rick Dubin, vice-president, investigations at the IBC.It is a low-risk, high-reward crime that costs Canadians about $3 billion per year. […]
Manitoba Public Insurance (MPI) has a new list of cars that are at the most risk of being stolen, according to a CBC report, and they include new cars that should have had electronic ignition immobilizers installed at the factory.The new list from [MPI]includes 11 categories of cars sold in 2005 or later, the CBC […]
By Canadian Underwriter | March 6, 2007
CogniFit, Ltd., an organization that assesses and trains cognitive skills, is introducing a risk assessment tool designed for auto insurers to the North American market.DriveFit Premium is a Web-based interactive program for auto insurers to assess the cognitive, psychomotor and personality skills needed for safe driving. The program tests drivers in 12 areas, including focused […]
Global mining firms have ranked the implementation of enterprise risk management as a key risk challenge in the next three to five years, a new Ernst & Young report has revealed.Attitudes to Risk in the Global Mining Sector, a survey of 40 global mining houses, including major Canadian mining firms, shows that 29% of respondents […]
FM Global reported a profit of US$737 million [approximately Cdn$864 million] in 2006, an increase from 2005s profit of US$635 million [approximately Cdn$744 million].According to an FM Global press release, the companys combined ratio was 75.3% and the client retention rate was 93% for the year 2006.Among its 2006 highlights, company officials listed the offering […]
By Canadian Underwriter | March 1, 2007
Risk Management Solutions (RMS) has launched the RMS Infectious Disease Model, the first commercially available probabilistic model for assessing the risk of influenza pandemics across multiple countries. The model, designed to help corporate risk managers, quantifies mortality and morbidity from nearly 2,000 potential pandemic influenza scenarios, says an RMS release. Factors that are taken into […]
February 28, 2007
Willis Group Holdings has announced the appointment of Richard T. Hynes as president and CEO of Willis Canada. Hynes has more than 25 years of management and industry experience in the Canadian market, with market growth and business development being his key areas of focus within Willis. “Since joining the company in 2005, Rick Hynes […]
3 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.