Canada News

Marsh Reports Captives Maintain Position Despite Economic Crisis

A study, published by Marsh, finds businesses continue the trend to self-insure through captives. “Despite the global economic recession and continued soft commercial insurance market, businesses in all parts of the world continue to use captive insurance companies as mechanisms …

EU to Launch Canada Trade Pact Talks

European Union foreign ministers agreed on Monday to launch talks on a trade pact with Canada worth over $27 billion per year, EU diplomats said. “The ministers gave the green light,” one diplomat told Reuters. The agreement was subsequently confirmed …

Study: Many Employees Undermine Data Breach Prevention Strategies

Many employees disable the encryption solutions on their laptops, putting their employers at risk for data breaches, according to a study by Absolute Software Corp. and the Ponemon Institute. The study, “The Human Factor in Laptop Encryption: US Study,” examined …

Freberg, ZCL Target Florida with Underground Storage Tank Insurance

ZCL Composites Inc., an underground fiberglass tank manufacturer, has partnered with Freberg Environmental Insurance of Denver to offer Prezerver, a non-cancellable, 10-year underground storage tank insurance policy for ZCL’s U.S. customers. The program will be administered by Willis HRH. Canada-based …

The Hartford Reported Shopping Its P/C Insurance Business

Hartford Financial Services Group Inc. is trying to sell its property/ casualty insurance business, sources familiar with the matter said Thursday, as the U.S. insurer reels from massive losses. Hartford has retained Goldman Sachs, which has been calling potential bidders …

Willis HRH Names Pera to Head Atlantic Region, Based in Tennessee

Insurance broker Willis HRH has appointed Douglas W. Pera as national partner of its Atlantic region. Pera will be responsible for the company’s retail insurance offices in Maryland, Tennessee and Virginia, and will report to Don Bailey, chairman and Chief …

A.M. Best Calls AIU Vehicle ‘Positive First Step’ in AIG Insurance Rebranding

Rating organization A.M. Best Co. reported that its ratings and outlook of the property/ casualty subsidiaries of American International Group, Inc. (AIG) remain unchanged following the company’s announcement of the acceleration of its restructuring and rebranding of its global property/ …

On the Road to Latin American Opportunity

As a large region with solid prospects for long-term growth, Latin America continues to gain in popularity as a market for many U.S. companies. Exporters to this region, however, can face significant challenges when it comes to getting their goods …

Report Says Forests Could Become Source of Global Warming

The world’s forests are at risk of becoming a source of planet-warming emissions instead of soaking them up like a sponge unless greenhouse gases are controlled, scientists said. Deforestation emits 20 percent of the world’s carbon dioxide when people cut …

CCRIF Reports Positive Investment Returns

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) continues to produce positive investment returns, “based,” it said, “on its diverse investment portfolio and conservative approach to investment. “These returns have allowed the CCRIF to increase its claims-paying capacity and facilitate a …