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Lord Levene
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Lloyd’s Chair Warns Against Regulatory Interference

June 1, 2004 by Canadian Underwriter

Recent years has seen the Canadian property and casualty insurance industry become increasingly volatile with the availability and pricing of coverage having fluctuated to the extent that insurers have come under intense public scrutiny and criticism, observes Lord Levene, chairman

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Canadian Business Boosts Kingsway’s 1-Q

June 1, 2004 by Canadian Underwriter

Kingsway Financial Services Inc. (TSX: KFS) boosted net income by 26% to $30.8 million for the first quarter of this year compared with the $24.4 million reported for the same period a year ago. As a result, earnings on a

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Insurers’ Solvency Level Holds Well Under MCT

June 1, 2004 by Canadian Underwriter

One year into the new federal solvency test – the minimum capital test (MCT) – the industry overall maintains a capital level well above that required by regulators, according to the Insurance Bureau of Canada (IBC). The bureau says the

George Cooke
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Newfoundland Move Prompts Dominion Withdrawal

June 1, 2004 by Canadian Underwriter

Citing auto insurance reforms recently tabled by the Newfoundland government, The Dominion of Canada is the first insurer to signal it will leave the province. In a statement, CEO George Cooke says, “we are deeply offended by the punitive insurance

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In Memory (June 01, 2004)

June 1, 2004 by Canadian Underwriter

George Lightbound It is with sadness that CU announces the passing of George Lightbound. After a tough battle with cancer he died peacefully, on April 26, 2004 at home surrounded by his loving wife of over 56 years, Merle, and

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Canadian Reinsurers Reap 2003 Profit Boon

June 1, 2004 by Canadian Underwriter

Canadian reinsurance companies lifted net taxed earnings for 2003 by more than 5.8 times to $310.8 million compared with the $52.9 million in after tax income reported the year prior. “The sharp rise in income was mostly attributable to a

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Northbridge Posts Strong 1-Q Underwriting Result

June 1, 2004 by Canadian Underwriter

The Fairfax group’s Canadian arm, Northbridge Financial Corp. (TSX: NB), posted an underwriting profit of $20.3 million for the first quarter of this year. This was achieved on the back of a 92.8% combined ratio. The company’s latest financial return

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Odyssey Exceeds ROE Target for 1-Q

June 1, 2004 by Canadian Underwriter

Fairfax’s reinsurance operation, Odyssey Re Holdings Corp. (NYSE: ORH) posted a return on equity (ROE) of 17% for the first quarter of 2004. The reinsurer produced a taxed profit of US$59.0 million (US90 a share) for the first quarter of

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A Numbers Game

June 1, 2004 Vikki Spencer

When Jane Voll stepped into the chief economist’s role for the Insurance Bureau of Canada (IBC) this spring, it was a step into the public maelstrom of auto insurance few would be bold enough to take. But Voll’s faith in the pivotal role of the insurance industry in Canada’s economy, and her belief in a “member-led, research-based” association have her well-equipped to bring the industry’s case before regulators, legislators, and ultimately the public.

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Technology & Commercial Markets

June 1, 2004 Kevin Campbell

Evolving market cycles, emerging regulations and changing industry practices demand responsiveness and flexibility from commercial lines underwriters and brokers. Should insurers not expect the same from their technology?

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Vicarious Conclusion

May 1, 2004 William Blakeney

The recent conclusion of a Supreme Court of Canada case involving “John Doe vs. Bennett” has provided dramatic clarification of the law as it applies to vicarious claims made against the church and other not-for-profit organizations. Will this legal outcome undermine the social role of churches and charity organizations in Canada?

Sam Malatesta
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Customer Service Versus Cost

May 1, 2004 Vikki Spencer

In an environment of high consumer expectations, mutual insurers looked to vendors to offer lessons in managing customer relationships at the Canadian Association of Mutual Insurance Companies (CAMIC) mid-year meeting which was recently held in Toronto. Speakers focused on meeting the customer service challenge while maintaining control of claims expenses and underwriting through enhanced information.