Industry
Property and Casualty Insurance Compensation Corporation (PACICC) is offering a three-part enterprise risk management (ERM) seminar to its member companies this fall. The seminars will be held at the Toronto head office of KPMG. Members can attend in person or participate via webinar, and are geared toward senior insurance company officers who are directly or […]
By Canadian Underwriter | September 11, 2012
1 min read
Getting a handle on emerging risks that can hit an organization hard is aided by adopting a mindset of pessimism, Susan Meltzer, vice president of enterprise risk management (ERM) for Aviva North America, suggested to workshop attendees at Horizons: 2012 RIMS Canada Conference in Saskatoon on Sept. 10. That pessimism is best applied not only […]
2 min read
Canada’s federal financial services regulator released its final set of guidelines related to legal requirements, qualifications and peer review for appointed actuaries. Guideline E-15, first issued in 2003, governs, among other things, the process of external peer review, which the Office of the Superintendent of Financial Institutions (OSFI) says has “generally been accepted over the […]
A new report observes that property catastrophe reinsurers deserve their high credit quality rating because of their track record in claims payments, market disclosure and management processes. Aon Benfield’s Credit Risk of Property Catastrophe Reinsurers examines the credit quality of reinsurers since 2000. The reinsurance intermediary of Aon notes that in the past 12 years, only […]
There is a positive side of risk, one that holds the promise of creating value for organizations and contributing to risk management becoming more entrenched in organizational culture and decision-making. That was among the views that Deborah Luthi, president of U.S.-based RIMS and enterprise risk manager for the San Francisco Public Utilities Commission, shared with […]
By Canadian Underwriter | September 10, 2012
Catlin Canada is looking to make it a little easier for students entering the insurance/risk management field of study with its donation of $20,000 to the William H. McGannon Foundation. The official cheque was to be presented during an event at Horizons: 2012 RIMS Canada Conference in Saskatoon, Saskatchewan on Sept. 10. The McGannon Foundation […]
Reinsurer Munich Re expects largely stable rates for contracts up for renewal in January 2013, while Swiss Re and Hannover Re predict moderate price increases for the same timeframe. The three companies announced their outlooks during the reinsurance industry’s annual conference in Monte Carlo, which runs until Sept. 13. Munich Re’s outlook also applies to […]
Zurich Canada recently launched a single insurance solution for various levels of government, educational institutions and health care facilities. Known as Public Sector Solution, the product is designed to provide a full range of coverages for all public entities across Canada, including provinces, cities, towns, townships, counties, school boards, colleges, universities and hospitals. “When we […]
Western Financial Group announced its acquisition of Orion Insurance Brokers Ltd. in Winnipeg on Sept. 7. Western, based in High River, Alberta, will add Orion’s Transcona office to its existing Winnipeg locations. Founded in 1993, Orion was purchased in 2008 and joined the P.M.C. group of brokerages. Its Transcona office will now be under the […]
By Canadian Underwriter | September 7, 2012
Reinsurance companies would be well-advised to continue to focus on solid underwriting to weather uncertainties and adapt to changes. Companies “really need to remain focused on their underwriting,” Gale Guerra, a senior financial analyst at A.M. Best Company, told attendees at the company’s 2012 Insurance Market Briefing – Canada, held in Toronto on Sept. 6. […]
By Canadian Underwriter | September 6, 2012
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