Canadian Underwriter

Features


avatar
Feature

Weighing Up Depreciation in a Business Interruption Claim

October 1, 2003 Richard Davidson, an insurance industry consultant

Can depreciation be deducted from a business interruption claim as a saving? Depreciation is often a fat juicy figure that would gladden the heart of any adjuster or forensic accountant to deduct from a claim…but, should they?

Feature Mergers and Aqcuisitions

Atlantic Canada: A Political Roller-Coaster

October 1, 2003 Mike Brien, president of Macdonald Chisholm Insurance

While the sharp rate increases introduced by insurers across nearly all lines of business in Atlantic Canada – with personal auto insurance having attracted the brunt of price hikes – are beginning to show positive signs of returned underwriting profitability for the region, the “public relations” cost incurred in the process may well prove that too much was done by the industry over too short a time. The political attention ignited by auto insurance pricing has presented a very real threat of government-run insurance systems being introduced in the region – the impact of which could be dire for insurers and brokers alike.

avatar
Feature

Coachman and SGI Subs Put on Financial Alert

October 1, 2003 by Canadian Underwriter

Rating agency A.M. Best has downgraded the status of Ontario-based Coachman Insurance Co. to “B (fair)” from “B+”, and placed a negative outlook on other subsidiaries of Saskatchewan General Insurance (SGI). Overall, the rating agency has affirmed the “A- (excellent)”

IBAC Executive 2003-2004: (back, from left) Dan Danyluk, CEO; Keith Wilson, president-elect; Bill Schwandt, vice president; Robert Kimball, vice president; (front, from left) Brian Gilbert, chair; Ken Orr, president.
Feature Mergers and Aqcuisitions

IBAC 2003 AGM: Rocky Times

October 1, 2003 Vikki Spencer

In the current environment – where provincial auto insurance systems are being changed on a near-daily basis in response to political whim and consumer ire, commercial and personal lines coverage remains scarce while rates continue to climb – brokers could

Feature

Optimum General Bounces Back Into the Black

October 1, 2003 by Canadian Underwriter

Montreal-based Optimum General Inc. (TSX: OGI.A) was back in the black for the first half of this year, posting net income of $492,000 equal to 4 a share. The company’s net earnings show a vast improvement over the loss of

avatar
Feature

Get Rid of Weak Insurers, Study Suggests

October 1, 2003 by Canadian Underwriter

A new U.S. study suggests regulators should cut financially unstable insurers off at the pass, rather than trying to “rehabilitate” them. Commissioned by the U.S. Council of Insurance Agents and Brokers (CIAB) and prepared by Stewart Economics Inc., the study

TIWA
Feature

Views (October 01, 2003)

October 1, 2003 by Canadian Underwriter
avatar
Feature

B.C. Forest Fires Cost Insurers $200 Million

October 1, 2003 by Canadian Underwriter

Insured losses from forest fires that swept through British Columbia in August are expected to total at least $200 million, says the Insurance Bureau of Canada (IBC). But this figure should not increase significantly, says IBC Pacific Region government relations

avatar
Feature

Fairfax Renews Share Buyback to Boost Shareholder Value

October 1, 2003 by Canadian Underwriter

Fairfax Financial Holdings Ltd. (TSX: FFH) has renewed efforts to acquire its own issued subordinate voting shares in a bid to boost shareholder value in the company’s listed equity. Fairfax says that, pending regulatory approval, it will purchase about one

avatar
Feature

Brand Success

October 1, 2003 Sean Hutchison, Fort Nocs Networks

For a company to uphold its corporate brand requires more than just integrating a consistent look and feel into every communication – it means embracing the concept of “brand critical”. By definition, mission critical refers to those elements of an

Feature Mergers and Aqcuisitions

Hub Expands East-Coast U.S. Operations

October 1, 2003 by Canadian Underwriter

Broker consolidator Hub International Ltd. (TSX: HBG] has added two U.S. brokerages to its stable: Boston-based Commonwealth Insurance Agency Inc., and New Jersey-based Sondheim & Laughlin. Commonwealth will become part of Hub’s New England “C.J. McCarthy hub”. The new brokerage

avatar
Feature Mergers and Aqcuisitions

Atlantic Task Force Rejects Concept of Public Auto

October 1, 2003 by Canadian Underwriter

A task force established by the premiers of Atlantic Canada has rejected implementing public auto insurance in the region. The “Atlantic Insurance Harmonization Task Force” found “no significant reason to transform the private enterprise delivery system to a government monopoly