Risk

When the Axe Falls

As we jumped over the small stream, I could feel the warmth of the late Fall sunshine on the back of my neck. All around us the trees were aflame with color. Already, for the first time this season, the forest floor was coated with leaves. Beside me, also dressed in jeans and a bright […]

July 31, 2006

10 min read

Risk

SGI sells insurance in Alberta

SGI Canada has begun selling insurance products and services in Alberta, the Crown corporation announced in an online posting. “We’re very pleased to enter the Alberta market as it holds great potential for growth for SGI Canada,” SGI Canada president Jon Schubert said. “We’re already familiar with Alberta because of its close proximity and similarities […]

July 31, 2006

1 min read

Risk

Award-winning forecaster predicts active storm season

Tropical Storm Risk (TSR) anticipates Atlantic basin and U.S. landfall hurricane activity will be 40% above the long-term (1950-2005) norm in 2006. The TSR prediction includes: * A 74% probability of an above-normal Atlantic hurricane season, a 22% probability of a near-normal season and only a 4% chance of a below-normal season. * An expectation […]

July 31, 2006

1 min read

Risk

Suspended Saskatchewan drivers driving without licenses/insurance

Saskatchewan drivers who have had their licences suspended for the first time due to a Criminal Code conviction continue to drive without their licences and without insurance, according to a study conducted by Synectics Transportation Consultants Inc. (Synectics).SGI cooperated fully with Mothers Against Drunk Driving (MADD) Canada and Synectics in the study. The research provided […]

By Canadian Underwriter | July 26, 2006

2 min read

Implementing IFRS leads to ambiguous statements

Major global insurers are adapting well to new International Financial Reporting Standards (IFRS) but a PricewaterhouseCoopers survey says many of the financial statements are less clear and harder to follow than before.The survey titled ‘Reporting under the new regime: A survey of 2005 IFRS insurance annual reports’ reports the resulting ambiguity of new financial statements […]

3 min read

What’s New: In brief (July 21, 2006)

R. Scott Donovan has been named Odyssey Re Holdings Corp.’s executive vp and chief financial officer. Donovan replaces Robert Giammarco, who will effectively resign Aug. 15 to pursue other interests, according to the company. For four years Donovan has been the president and chief operating officer of TIG Insurance Group, which is an affiliate of […]

1 min read

Aviva rating stable, AmerUs rating revised

Standard & Poor’s Ratings Services has affirmed its ratings and stable outlook on U.K.-based insurer Aviva PLC and related core operating entities of the group, including CGU International Insurance PLC. At the same time, S & P’s revised its outlook on U.S.-based life insurer AmerUs Group Co. (AMH), the holding company of AmerUs Group, to […]

3 min read

What’s New: In Brief (July 12, 2006)

Hub International Limited (NYSE:HBG)(TSX:HBG) has acquired the life insurance portfolio of Standard International Underwriters Ltd. (SIU). Details of the purchase by the Toronto-based Hub Financial Inc. (HUB Financial) were not disclosed. Both HUB Financial and SIU are managing general agencies operating in all provinces of Canada. HUB Financial will integrate the SIU servicing activities into […]

2 min read

What’s New: In brief (July 07, 2006)

Kernaghan Adjusters has opened two new and strategically located offices in southern Ontario. “This bold move,” said Patti Kernaghan, president & CEO of Kernaghan Adjusters, says the move is largely due to the appointment of Derek Francis as the manager of the Ottawa Branch and Brain Nauss who joined Kernaghan in Feb. 2006 as the […]

2 min read

Study finds corporate misconduct remains the same, despite SOX

A KPMG study of U.S. corporate behavior in the wake of strong corporate governance legislation like Sarbanes-Oxley will likely have many risk managers and D&O insurers shaking their heads According to the KPMG Integrity Survey 2005-06, 74% of the more than 4,000 U.S. employees surveyed reported they had observed misconduct in the prior 12-month period.Half […]

2 min read