Canadian Underwriter

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National Broker Market Trends: Action & Reaction?

April 1, 2004 Sean van Zyl, Editor

Brokers across the provinces are expressing cautious optimism with regard to the return of markets and overall greater underwriting capacity that has become available. Many brokers that CU spoke to in compiling its annual analysis of the brokerage sector concur that “the heartbeat of the property and casualty insurance industry was weak but stable” as the first quarter of 2004 came to a close. The question that many are now asking as the financial health of insurers improves is whether they will maintain a disciplined underwriting approach, or lose their willpower to the ferocious feeding frenzy of the past. Ultimately, can insurers break from the drastic reaction and counter-reaction market swings associated with the traditional insurance cycle?

Ellen Moore
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On the Move (April 01, 2004)

April 1, 2004 by Canadian Underwriter

Chubb Insurance Co. of Canada has named Ellen Moore as its new president and CEO, replacing Jan Tomlinson, who has been promoted to international field operations manager for the parent company. Moore has been with Chubb & Son since 1978,

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Alternative Process to DAC System Prompted for Ontario

April 1, 2004 by Canadian Underwriter

A consultation paper outlining a new system to replace Ontario’s designated assessment centers (DACs) has been released by the Financial Services Commission of Ontario (FSCO). The “expert assessor network” (EAN) is being proposed as an alternative to what FSCO calls

Paul Viollis
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Workplace Violence Legislation Impacts Employer Duties

April 1, 2004 by Canadian Underwriter

Corporations and their risk management departments face new responsibilities with the passage of federal Bill C-45, which seeks to reduce workplace violence and accidents, attendees to an AIG seminar were recently told. The new law establishes criminal liability for corporations

TIWA Wine and Cheese
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Views (April 01, 2004)

April 1, 2004 by Canadian Underwriter

B + L Consultants and Vigil Technology Locating Systems Inc. have signed a national promotional services agreement. The three-year deal will see B + L promoting the Vigil GPS system nationally to 900 car dealers, with an annual target of

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Hub Revenue Rises 30%, Re-Branding Campaign Planned

April 1, 2004 by Canadian Underwriter

Broker network consolidator Hub International Ltd. (TSX: HBG) boosted total revenue by 30% year-on-year to a record US$286.4 million for the 2003 financial year (2002: $220.0 million). Net earnings for the year came in at $38.5 million, equal to $1.14

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Celebrating Success

April 1, 2004 Axiom

Hello, Fred! Hello, Dave!” The welcome came from Tom Johnstone, president of a long-established and successful brokerage in the city which was celebrating its 100th year in business. He shook our hands warmly, “thanks for coming”. A huge sign across

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Moments in Time (April 01, 2004)

April 1, 2004 by Canadian Underwriter

Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry’s history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.

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Global Political Dangers

April 1, 2004 Patrick Doig

Can corporations afford to not be a part of the expanding “global economy”? For many enterprises, the quest to remain competitive and produce adequate revenue and earnings growth to meet shareholders’ expectations makes stepping out operations from the home market an essential component in their business strategy. But, are companies fully aware of the political risk exposures they potentially face in expanding their operations abroad?

Glenn Gibson
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CIP Business Summit: A Dangerous Game

April 1, 2004 Vikki Spencer

The world is a dangerous place in which to write insurance right now, and the legal environment is a good part of the reason why. Speakers at the CIP’s recently held Business Summit pointed to a number of legal and legislative developments making insurance a treacherous gamble in Canada as well as on a worldwide basis. The ever-expanding litigation environment, including rising bad faith awards against insurers themselves, are causing insurer headaches. And, unresolved issues regarding auto insurance regulation continue to make for a “rocky landscape”.

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Wolves in Sheeps’ Clothing

April 1, 2004 Mark Ram

The specialty lines business. Fat premiums. The appearance of fast, easy money. When markets turn soft and growth sounds good, they can attract insurers like mice to cheese. But, those hungry insurers who venture uninformed and unprepared into the high-risk specialty areas of insurance are more often than not dealt a blow that leaves them reeling.

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Storm in a Tea Cup?

April 1, 2004 John Morin

Regulation of Quebec’s auto insurance system has a long history of controversy. Now, with private auto insurance in the other provinces of Canada seemingly having lost anchorage with runaway accident benefit claims costs, Quebec’s system has been held up as a shining example of a workable model. The question is, can this be maintained? Recent political pressures to restrict insured benefits of drivers convicted of a criminal offence and to allow innocent victims to sue such offenders could reopen the door to increased tort costs.