Risk

A.M. Best to rate the “basis risk” of parametric cat bonds (November 01, 2006)

A.M. Best Co. recently released a new methodology for rating the “basis risk” associated with parametric catastrophe bonds. The new methodology is designed to help the ratings agency determine the amount of reinsurance credit that can be claimed by the sponsors of such bonds. Insurers and reinsurers use “parametric” bonds to protect capital and to […]

October 31, 2006

2 min read

Risk

Western Financial acquires part ownership in Manitoba broker HED

Western Financial Group has acquired a 25% initial interest in Hayhurst Elias Dudek Inc. (HED), the largest independent insurance broker/administrator in Manitoba.HED is one of the largest independently owned insurance brokers in Canada, with approximately 190 employees nationwide. HED’s head office and the majority of employees are located in Winnipeg, with additional offices in Toronto, […]

By Canadian Underwriter | October 31, 2006

1 min read

Risk

Canadian insurance industry encouraged to talk to regulators

Canadian insurers must engage in an ongoing dialogue with industry regulators to avoid a “death by best practices,” according to a panelist speaking at the Insurance Bureau of Canada’s sixth annual regulatory affairs symposium in Toronto.Paul Belanger, a partner at Blake Cassels & Graydon LLP, said risk-based regulation is to be applauded when best practices […]

By Canadian Underwriter | October 30, 2006

2 min read

Risk

ARC Group Canada launches in Toronto

The ARC Group Canada Ltd. celebrated its launch at the Ontario Club in Toronto Oct. 26.The ARC Group is a network of independent law firms across Canada that have joined together to deliver services to insurers, self-insured companies and other entities requiring assistance with various insurance and risk-related legal matters.Law firm members of the group […]

By Canadian Underwriter | October 27, 2006

1 min read

Canadian law association supports insurance and risk management industry

The firm of Hughes Amys LLP has joined seven law firms from coast to coast to form the ARC Group Canada Inc.The ARC Group is a network of independent law firms across Canada focusing on the areas of insurance law and risk management, according to the organization. Members of the ARC Group provide services to […]

1 min read

Insurers to debate with new government negotiator

New Brunswick’s Justice and Consumer Affairs Minister T.J. Burke recently named a Fredericton lawyer as the lead negotiator for upcoming discussions with the insurance industry.Bill Anderson, a government litigator, has been retained and will begin work immediately.”Mr. Anderson is an experienced negotiator and I know that he will achieve the government’s goal of having the […]

1 min read

S&P’s revises notching criteria

Standard & Poor’s Ratings Services has revised its notching criteria for Canadian insurance operating companies to achieve greater global consistency of its ratings on subordinated debt, hybrids, and preferred share instruments.”This change will apply only to Canadian operating insurance companies,” Standard & Poor’s credit analyst Mark Puccia says. “The ratings on Canadian insurance holding companies […]

2 min read

Willis grows West

Global insurance broker Willis Group Holdings (NYSE: WSH) has appointed two senior associates in Calgary in a move to continue strengthening its presence in “key geographic markets across North America.” Willis has appointed Kathy Underhill to the position of executive vice president, managing partner and office director of the Calgary operations. Underhill is also a […]

2 min read

Female insurers recognized

Among a group of women leaders recently noted in “Business Insurance” magazine’s “Women to Watch” issue are FM Global’s Maxine Walker as well as four individuals from Aon including: Corbette Doyle; Kathryn Hayley; Kathleen M. Burns; and Kelly Smith.The honorees were selected based on the following criteria: their recent professional achievements; their influence on the […]

2 min read

What’s New: In Brief (October 13, 2006)

The Federation of European Risk Management Associations (FERMA) has launched an electronic training initiative designed to help smaller businesses avoid financial failure, A.M. Best reports.The program, known as Professional in Risk Management, was unveiled at FERMA’s fall seminar at the Hotel Bristol Stephanie in Brussels, Belgium. Prorim, as the initiative has been dubbed, is aimed […]

2 min read