Canadian Underwriter

Features


Max Taylor
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RIMS 2004: Tough Talk

June 1, 2004 Vikki Spencer

The property and casualty insurance industry’s mantra of late has become, “how can we stop the cycle”? At this year’s RIMS Conference in San Diego, commercial clients urged insurers to find a way to avoid the startling price increases of the past two and a half years, and temper the behemoth known as the “insurance cycle”. Insurers say this can be done, but caution that everyone – carriers, buyers and legislators – must be part of the solution.

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Auto Rental Replacement: A Tech Boost

June 1, 2004 Tim MacNair

Introduced in Canada in 2000, automated rental car systems changed the way insurers and rental car companies do business. The new technology promised to cut costs and boost customer service and has done so quite successfully. Now, four years later,

From left to right, Pierre Dionne, Ken Arthurs and Jane Voll
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Canada’s Insurance Market: A Silver Lining

June 1, 2004 Vikki Spencer

Canadian commercial insurance buyers have had little to celebrate with the record rate increases and tight terms faced over the past two or more years. Now, with reinsurers and insurers reporting stronger results, risk managers’ expectations of better pricing are starting to surface. However, insurers and brokers warn, risk managers who look for the loose underwriting standards and coverage giveaways of the past, do so at their own peril.

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Moments In Time (June 01, 2004)

June 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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“Rich Man, Poor Man” Syndrome

June 1, 2004 Sean van Zyl, Managing Editor

Canada’s property and casualty insurance industry – inclusive of the primary and reinsurance sectors – appears to suffer from a condition of “rich man, poor man syndrome”, a condition which the insured public whether they fall in the personal lines

Bill Star
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Former Pilot Execs Face FSCO Charges

June 1, 2004 by Canadian Underwriter

In an unprecedented move, the Financial Services Commission of Ontario (FSCO) has filed charges against two former Pilot Insurance Co. executives for “directly or indirectly furnishing false, misleading or incomplete information” to the insurance regulator. Former Pilot CEO Stu Kistruck

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Final Alberta Reform Package Promises 20% Rate Cut

June 1, 2004 by Canadian Underwriter

After months of wrangling, a final package of auto reforms has been released in Alberta, with a promised rate savings of 20% overall. The reforms are to be implemented by September this year, with the province’s “Standing Policy Committee on

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U.S. Reinsurers’ 1-Q Shows Underwriting Windfall

June 1, 2004 by Canadian Underwriter

U.S. reinsurers produced a combined ratio of 94.0% for the first quarter of this year compared with the 96.4% ratio posted for the same period in 2003, according to data collected by the Reinsurance Association of America (RAA). The improved

From left: Jon Galsworthy, Mike Bartlett, Eric Savory, James Scott of UWO.
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Insurers Back Windstorm Project

June 1, 2004 by Canadian Underwriter

A major new windstorm research project has been initiated after gaining financial backing from the insurance industry. The industry’s disaster prevention organization, the Institute for Catastrophic Loss Reduction (ICLR) has approved the University of Western Ontario’s (UWO) proposal to build

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Fairfax Earnings Drop Despite Better Combined Ratio

June 1, 2004 by Canadian Underwriter

Insurance holding company Fairfax Financial Holdings (TSX: FFH) reported reduced net earnings of US$39.5 million for the first quarter of 2004, down from the US$169.0 million posted for the same period the year prior. This saw earnings drop to US$2.63

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On the Move (June 01, 2004)

June 1, 2004 by Canadian Underwriter

Along the election of Nancy Chambers of Waterloo Region Municipalities Insurance Pool as president of RIMS, fellow Canadian Joseph Restoule, senior risk consultant for NOVA Chemicals Corp. was named vice president, chief risk officer and secretary of the RIMS executive

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Views (June 01, 2004)

June 1, 2004 by Canadian Underwriter

More than 125 industry veterans were present for the 45th Annual Reception of the Quarter Century Club, held May 6th at the Hilton International Toronto. Emcee John Cherrie, welcomed this “International Order of Old Farts”, and thanked sponsors Cunningham Lindsey,