Features
Stress From Workplace Conflict
September 1, 2004 Susan Philchuk & Maria VandenhurkEveryone has moments of stress in the workplace environment, but in some cases the degree thereof can adversely impact the ability of employees to effectively do their jobs – resulting in lost work time. However, new stress-handling models have produced proven results in dealing with conflict before it reaches this adverse stage.
Happier Clients Through Better Selling
September 1, 2004 Paul SalvasThe property and casualty insurance industry is not renowned for its selling techniques – perhaps resigned to the fact that buyers see their product as a “necessary evil” and from a regulatory standpoint, particularly on certain classes of business such as auto, as being a “compulsorily purchase”. However, insurers and brokers can achieve more business and boost customer satisfaction through applying proven, proactive selling techniques.
Moments in Time (September 01, 2004)
September 1, 2004 by Canadian UnderwriterEach 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.
FSCO Sets Stage for New MCT Application
September 1, 2004 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has published its guidance on the new minimum capital test (MCT), with insurers set to implement the new test on 2004 annual returns. The MCT, a risk-based system of assessing capital requirements, has…
Insurers’ Fortunes Prosper in 2-Q
September 1, 2004 by Canadian UnderwriterCanadian insurers saw net income for the second quarter of this year more than double to $1.241 billion compared with the $584 million profit made for the same period in 2003, according to industry financial data released by the Office…
Hurricane Charley Devastates Florida, Carolinas
September 1, 2004 by Canadian UnderwriterThe total insured loss from Hurricane Charley will likely top US$6.8 billion, says the U.S. Insurance Services Office (ISO), making it the second costliest hurricane to hit the U.S. behind Hurricane Andrew. The ISO says the category 4 hurricane, which…
Hub Makes 15% Earnings Gain for 2-Q
September 1, 2004 by Canadian UnderwriterChicago-based broker Hub International (TSX: HBG), a subsidiary of the Fairfax group, saw improvement in its financial results from a variety of sources for the second quarter of 2004 – growth was experienced both organically and through acquisition, with both…
Fairfax 2-Q Earnings Drop on Investment Slide
September 1, 2004 by Canadian UnderwriterA steep decline in realized gains has dampened earnings growth for Fairfax Financial Holdings (TSX: FFH) for the second quarter of this year. The company’s net earnings for the latest reporting period came in at US$46.0 million (US$3.13 a share)…
E-L Financial 2-Q Boosted by General Insurance
September 1, 2004 by Canadian UnderwriterThe first half 2004 financial return for Toronto-based E-L Financial Corp. (TSX: ELF) shows significant improvement over the result for the same period in 2003, with the first six months of this year mostly showing gains made in the general…
Kingsway Net Income Jumps 22% for 2-Q
September 1, 2004 by Canadian UnderwriterKingsway Financial Services (TSX: KFS) saw net income for the second quarter of this year rise by 22% to $33.3 million compared with the $27.3 million reported for the same period a year ago. This translates to earnings of 59…
Co-Operators 2-Q Earnings Rise on Underwriting Gain
September 1, 2004 by Canadian UnderwriterCo-operators General Insurance Co. (TSX: CCS.PR.A) saw its net income rise to $38 million ($1.74 a share) for the second quarter ending June 2004 on the back of a 5% reduction in the company’s combined ratio. Co-operators posted a combined…
The Ethical Choice in Risk Management
September 1, 2004 Garry McDonellEthical dilemmas are a reality in the risk management profession. How prepared are you as risk manager – as well as the organization that you work for – in responding to the ethical “gray areas” of operational decisions?