Canadian Underwriter

Features


avatar
Feature

A New Approach?

November 1, 2003 Lawrie Savage of Lawrie Savage & Associates Inc.

At the recent Insurance Bureau of Canada (IBC) “Regulatory Affairs Symposium”, which was held in Toronto, the speakers were asked to provide their perspective on recommendations put forward by former regulators and industry members on a new system of market conduct regulation in Canada. A move in this direction would significantly reduce the current “red tape” overload on insurers.

Feature

Volatile Markets and the Reinsurance Intermediary

November 1, 2003 Donald Callahan, president of Guy Carpenter & Co. Ltd.

Is Your Reinsurance Transaction Secure?

avatar
Feature

Letters to the Editor (November 01, 2003)

November 1, 2003 by Canadian Underwriter

Dear Editor, I have just finished reading/scanning another edition of CU received at our office and left for those of us brokers interested enough to pick it up and read. (I could go on at length about how uninterested and

Feature Mergers and Aqcuisitions

Public Survey on Auto Cover Reveals Dissatisfaction

November 1, 2003 by Canadian Underwriter

An independent survey of Canadian drivers across the provinces suggests that 75% of the public believe that the provincial governments should impose limits on rate increases with an equal number of respondents believing that cover price increases should not exceed

avatar
Feature

On The Move (November 01, 2003)

November 1, 2003 by Canadian Underwriter

Halifax-based Huestis Ritch, member of Canadian Litigation Counsel, has named Elissa Hoverd as an associate of the firm. She joined the Ontario Bar in 2001 and the Nova Scotia Bar earlier this year. Toronto-based Kingsway Financial Services has made several

avatar
Feature Mergers and Aqcuisitions

Political Sparks…

November 1, 2003 Sean van Zyl, Editor

Rate freezes, rollbacks, premium refunds and government-run insurance. It seems that the language of auto insurance has changed so rapidly that insurers have been left dazed and disorientated in an unknown land. But, based on latest events, it would appear

Feature

Untangling Concurrent or “Overlapping Coverage”

November 1, 2003 Paul Famula, Crawford Adjusters Canada

When two insurance policies appear to insure the same loss, how do you determine if there should be contribution and how is it to be shared? A review of current law, policies in effect, and specifically the Ontario Insurance Act provides some clarity.

Feature

Canadian Risk Managers: Change in the Air

November 1, 2003 Vikki Spencer

Three years ago, risk managers were focused on how to promote their profession. Now, for better or worse, risk management is center stage. But, what will risk managers do with their newfound fame? At this year’s RIMS Canada conference, risk managers “took the bull by the horns” and talked about how to make the most out of the intense pressure they are currently under, to finally advance the cause of enterprise risk management in their organizations.

Feature

Captive & Art Growth: Corporate Retentions Rise in Wake of the Hard Market

November 1, 2003 Sean van Zyl, Editor

Fueled by traditional insurance capacity shortage during 2002, particularly in the liability risk classes and certain specialty risk sectors, the growth in corporate risk retention through establishment of captives and other alternative self-insurance mechanisms is expected to maintain record levels through this year and into 2004 – after coming off a “ten year banner year” for 2001 following the insurance cost impact of the 9/11 terrorist attacks. Canada has not been excluded from this trend, with the number of captives formed during 2002 more than doubling the overall worldwide growth rate of captive formations. Canadian risk solution experts CU spoke to believe that the premium value as well as establishment of self-insurance mechanisms for this year and 2004 will continue to reflect strong growth despite the moderate improvement in traditional insurance capacity and easing of pricing currently emerging in the marketplace.

avatar
Feature

Being Ready

November 1, 2003 Sean van Zyl, Editor

The property and casualty insurance industry’s protection mechanism for policyholders against any insurer defaulting on its claim obligations – the Property and Casualty Insurance Compensation Corp. (PACICC) – is set to undergo a major overhaul in response to a changed marketplace. The devastating competitive price impact of the last “soft market”, coupled with spiraling losses and diminishing investment income returns, has created a much more volatile risk environment for the insurance industry, observes Paul Kovacs the newly appointed president of PACICC. And, while the financial picture of insurers has improved vastly in 2003 as a result of two years-plus of “hard market” pricing adjustments, there is still considerable risk for insurer insolvencies over the next three years, Kovacs says.

Andr Fredette, senior vice president of CCR Canada
Feature Mergers and Aqcuisitions

Reinsurance Strategies 2003: Signs of Recovery

November 1, 2003 Vikki Spencer

For an industry that was on the brink of disaster less than a year ago, reinsurers can take pride in the financial turnaround seen thus far for 2003. But, CEOs offering their insights to CU’s annual yearend treaty outlook are

avatar
Feature

In Memory (October 01, 2003)

October 1, 2003 by Canadian Underwriter

The industry lost a friend with the passing of Imre Strasser, FCII, on September 9. Born in Vienna, he came to Canada in 1957, continuing his career as an insurance underwriter begun in 1949. He was long-time member and supporter