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The Dawn of Corporate Criminal Responsibility

March 1, 2004 Glenn McGillivray

More than eleven years after an explosion ripped through the Westray coal mine in Plymouth, Nova Scotia killing 26 miners and triggering a decade-long legal battle for victims’ families, new federal legislation will make corporations, their management, directors and officers legally responsible for unsafe work environments.

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Tough Times for Main Street

March 1, 2004 by Canadian Underwriter

Premium hikes and availability issues have prompted the Canadian Federation of Independent Business to call for a federal review of the property and casualty insurance industry. But, insurers and brokers say solutions for small businesses should be market-driven, not political. They also contend that the market is working.

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The Next Big “Tail” Liability?

March 1, 2004 Allison Murray

While many insurers have written food-processing risks with a lenient attitude – with an eye cast at the food processing industry’s historically attractive underwriting result – warning lights are now beginning to blink, suggesting that litigation involving the entire food processing enterprise, both animal and human, may be the next big thing in long-tail product liability.

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Vicarious Costs

March 1, 2004 William Blakeney

Sexual Abuse in the Church Under Scrutiny; Vicarious liability is the startling legal concept that someone can be held liable for a third party’s injuries when they were not actively involved in the incident that caused the damages. Parties sued for vicarious liability are generally, but are not always in a supervisory position over the person who would ordinarily be personally responsible.

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Global Political Risks – Post-9/11

March 1, 2004 Sean van Zyl, Editor

Suicide bombings in Baghdad continue to see a rising toll in deaths of “reconstruction” foreign workers and military personnel…Ongoing conflict between Palestinians and Israelis continues to produce reprisal acts of violence…A coup de tat in Haiti results in mass civil

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Communicating Value

March 1, 2004 Vikki Spencer

As Nancy Chambers gears up for her term as president of the Risk and Insurance Management Society (RIMS), she knows risk managers are in the midst of a difficult insurance market and increasing expectations from the highest corporate levels. Chambers follows a long line of Canadian RIMS presidents and says she will build on the successes of the past to forge new channels of communication for risk managers and their partners.

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Risk Managers Look for the Right Price

March 1, 2004 Vikki Spencer

At the end of 2003, two commercial insurance surveys came out suggesting the market turn risk managers had been praying for was on its way. First, the Risk and Insurance Management Society (RIMS) benchmark survey (inclusive of U.S. and Canadian

Mark Yakabuski
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Insurers Warm Up to Ontario Auto Reforms

February 1, 2004 by Canadian Underwriter

Insurers have come out in favor of Ontario’s new auto insurance reforms. The McGuinty Liberals had promised legislative reforms after freezing rates shortly after taking office in October. Although the latest product reforms mean the end of the rate freeze,

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MPI Net Income Up Despite Claims Growth

February 1, 2004 by Canadian Underwriter

For the first three quarters ending November 30, 2003, Manitoba Public Insurance (MPI) is reporting growth in net income to $38.7 million, up from $23.1 million for the same period a year earlier. Investment income was almost double, hitting $85.4

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Tech Squeeze on Auto Fraud

February 1, 2004 Ivor Kaye

Say the word “fraud” and insurers shake in their boots. Of the host of financial challenges facing the insurance industry today, fraud ranks as perhaps the most menacing. However, new technologies may provide a solution to beat back the “fraud monster” – if the industry stakeholders are willing to join together to create integrated systems.

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On the Move (February 01, 2004)

February 1, 2004 by Canadian Underwriter

Allison Murray, former executive vice president and COO of Enterprise Canada Insurance Services, has started her own company, A.M. Associates. The new company will focus on commercial lines consulting and research for insurers, brokers and law firms. Allianz Canada has

Chris Mandel
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Commercial Property Rates Dropping: RIMS Survey

February 1, 2004 by Canadian Underwriter

Commercial property rates fell 8.8% in the last quarter of 2003, marking the first major rate decline since 2000, according to the quarterly survey by the Risk and Insurance Management Society (RIMS) and Advisen Ltd. Risk managers report not only