Risk

IBC urges provinces to improve graduated licensing

The Traffic Injury Research Foundation (TIRF) and the Insurance Bureau of Canada (IBC) have released a study that calls for measures to improve graduated driver licensing (GDL) across the country.The report calls on provincial governments to improve GDL programs by limiting the number of teenage passengers in GDL programs, raising the age of supervisory drivers, […]

By Canadian Underwriter | November 14, 2005

2 min read

Risk

Atradius to sell trade credit insurance in Canada

The Office of the Superintendent of Financial Institutions has issued Atradius Credit Insurance, NV, Canada Branch, a license to sell trade credit insurance in Canada.Majority owned by Swiss Re and Deutsche Bank, Atradius is a leading credit insurer with total revenue of approximately $1.6 billion. It insures about $370 billion of worldwide trade annually against […]

By Canadian Underwriter | November 14, 2005

1 min read

Risk

Improving data quality key to risk management: AIM study

Improving data quality is regarded as a key issue for risk management and regulatory requirements including Basel II, the Markets in Financial Instruments Directive (MiFID), and Sarbanes-Oxley are driving investments in IT, according to a 2005 AIM Global Data and Risk Management Survey.”The results show companies see the close connection between reference data management and […]

By Canadian Underwriter | November 11, 2005

2 min read

Risk

Re-introducing mold insurance may aid real estate industry (November 09, 2005)

A recent poll meant to assess mold’s financial impact on the real estate market indicates that 60% of builders and real estate lenders are hearing that fear of mold problems existing on a property is the reason individuals are backing out of real estate transactions. The poll, conducted by consulting firm Environmental Assurance Group (EAG), […]

By Canadian Underwriter | November 9, 2005

2 min read

Auto accidents cause stress disorders in children

Children involved in motor vehicle crashes may be at risk of suffering acute stress disorder (ASD) symptoms after the crash according to research based on a range of crash data from reports submitted to State Farm Insurance Companies, which indicates that 2% of children and 5% of their parents will likely experience life disrupting multiple […]

2 min read

Kingsway reports profit

Kingsway Financial Services Inc. (TSX:KFS) saw a third-quarter profit increase of 22.5% due to a decrease in expenses, which resulted in offsetting a drop in revenues.The insurer of high-risk drivers also reported a net income of $37.5 million ($0.66 per share) for the 3Q of 2005, which represents an increase from $30.6 million ($0.54 per […]

1 min read

Investigations changing insurance buyers-brokers’ relationship: study

Commercial insurance buyers are changing brokers, and company risk managers are more actively participating in the placement process and verifying broker information in the wake of regulatory investigations facing the insurance industry, an Advisen Ltd. study has found. In a survey of more than 500 corporations and governmental entities by Advisen, a provider of analytics, […]

2 min read

Marsh’s third-quarter net income triples

Marsh & McLennan Companies, Inc. (MMC) reported its net income in the third quarter tripled from $21 million to $65 million.”Marsh’s parent company, MMC, continued in the quarter to make progress and take the steps which will make it a better and more profitable company next year,” Michael G. Cherkasky, MMC president and CEO, said […]

2 min read

Reinsurance Outlook 2006 Post-Katrina

Hurricane Katrina has reinsurers talking about how to handle record-breaking catastrophe losses as the 2006 renewal season begins. Already there is talk of price hikes and signs of public share offerings. How much of this is a long-term reaction to losses arising out of hurricanes, and what other issues face the reinsurance market as we enter the Post-Katrina world? We've asked 11 prominent reinsurance contributors to answer these questions and more.

October 31, 2005

17 min read