Risk

SCOR ‘A-‘ rating affirmed, S & P’s

In response to reinsurer SCOR S.A.’s plan to acquire reinsurer Revios Rckversicherung AG and its subsidiaries, Standard & Poor’s Ratings Services has affirmed SCOR’s ‘A-‘ long-term counterparty credit and insurer financial strength ratings.The deal between Paris-based SCOR and German life reinsurer Revios is valued at US$774 million (605 million). S&P’s says its outlook on all […]

By Canadian Underwriter | July 5, 2006

2 min read

Side A D&O policy limits, rescissions increase

Plaintiffs’ attempts to impose personal liability on directors is becoming a trend, as are insurers’ attempts to rescind D&O coverage upon learning of fraudulently-reported financial statements, A.M. Best reports.In some recent U.S. corporate scandals, A.M. Best notes, “plaintiffs’ attorneys have targeted directors and have demanded, and obtained, personal contributions from the directors.”In January 2005, for […]

By Canadian Underwriter | July 4, 2006

2 min read

Alberta floods lead to disaster recovery program

Alberta experienced one of the worst flood seasons on record in the summer of 2005 due to severe weather conditions, according to the Government of Alberta. These unprecedented conditions, which saw rainfall ranging from between 50 and 100 mm to more than 400 mm, influenced the province’s decision to create the Southern Alberta Disaster Recovery […]

June 30, 2006

1 min read

S&P’s updating its capital model

Standard & Poor’s Ratings Services (S&P’s) is updating its risk-based capital model. S&P’s says it is currently testing newly developed capital factors against the latest capital model used in its analytics for a large number of companies globally. The outcome of this testing will inform fundamental changes S&P’s plans to make to its modeling of […]

June 30, 2006

1 min read