Risk

Aon launches corporate investigations team

Aon Consulting, the human capital consulting organization of Aon Corporation (NYSE:AOC), a provider of risk management services, has launched a new corporate investigations group.The new group will “assist organizations worldwide with their most complex corporate investigations, while ensuring they adhere to regulatory standards,” a company press release says.”This group works with law firms, corporations, governmental […]

By Canadian Underwriter | May 25, 2006

2 min read

Risk

Lloyd’s outlines measures for promoting contract certainty

Lloyd’s chief executive Richard Ward has sent a letter to the market outlining proposals to promote contract certainty.The letter includes proposals that would streamline the way insurance contracts are checked, produced and issued.The changes outlined in Ward’s letter follow consultation with the market, Lloyd’s says in a press release posted on its Web site. “The […]

By Canadian Underwriter | May 23, 2006

2 min read

Risk

ERM important to protect competitive advantage

Insurers operating without effective risk management programs may lose their competitive position or become exposed to “unacceptable losses,” according Standard & Poor’s Ratings Services. S & P’s notes that there is no national regulatory agency or industry-wide trade group that has established ERM criteria, though the European Union’s Solvency II criteria are currently pending. Standard […]

By Canadian Underwriter | May 23, 2006

2 min read

Risk

Moody’s affirms Swiss Re’s financial strength; outlook negative

Moody’s Investors Service has confirmed the Aa2 insurance financial strength and senior debt ratings of Swiss Reinsurance Company in anticipation of the closing of Swiss Re’s acquisition of GE Insurance Solutions.Moody’s also changed Swiss Re’s ratings outlook to negative.”The decision to place the ratings on review for possible downgrade was made on 18 November 2005 […]

By Canadian Underwriter | May 19, 2006

2 min read

Look both ways for reinsurance side-cars (May 17, 2006)

Reinsurance “side-cars” special-purpose reinsurers are likely to become increasingly important to the business strategy of insurers and reinsurers, according to a recent Moody’s report.In its report, Reinsurance Side-Cars: Going Along for the Ride, Moody’s notes reinsurance side-cars are “a recent innovation in the catastrophe-battered insurance and reinsurance industries, whose managements are seeking solutions to stabilize […]

2 min read

Look both ways for reinsurance side-cars (May 17, 2006)

2 min read

RBCI gets ‘A’ rating (May 11, 2006)

Royal Bank of Canada Insurance Company Ltd. (RBCI) has received a financial strength rating of A (Excellent) and the issuer credit rating of “a+” from A.M. Best Co.The rating’s agency reports that these ratings, which have stable outlooks, reflect RBCI’s capitalization, as well as its underwriting and operating performance. A.M. Best also notes that RBCI […]

2 min read

What’s New: In brief (May 09, 2006)

MFX recently entered into a three-year contract to manage all IT infrastructure and operations for the Matlen Silver Group, an integrated business and technology solutions provider headquartered in Somerset, New Jersey. Under the terms of the contract, Matlen Silver’s IT operations will be run from one of MFX’s high-security data center locations and will include […]

3 min read

Social hosts don’t owe duty of care to public motorists: Supreme Court

Social hosts of parties where alcohol is served do not owe a duty of care to public users of highways, the Supreme Court of Canada has ruled in Childs v. Desormeaux.Insurers were watching the case with interest because of its implications on how homeowners insurance, which would pay out for social host liability, might be […]

2 min read

Hub acquires assets of Hirsch Wolf & Co.

The New York subsidiary of Hub International Limited (NYSE:HBG)(TSX:HBG), Hub International Northeast (HUB Northeast), has acquired the assets of Hirsch Wolf & Co., LLC, a Brooklyn-based property and casualty insurance brokerage with special expertise in the healthcare industry. Terms of the transaction were not disclosed. Hirsch Wolf will add approximately US$7 million to HUB Northeast’s […]

1 min read