Canadian Underwriter

Features


Chris Mandel
Feature

Commercial Property Rates Dropping: RIMS Survey

February 1, 2004 by Canadian Underwriter

Commercial property rates fell 8.8% in the last quarter of 2003, marking the first major rate decline since 2000, according to the quarterly survey by the Risk and Insurance Management Society (RIMS) and Advisen Ltd. Risk managers report not only

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On the Move (February 01, 2004)

February 1, 2004 by Canadian Underwriter

Allison Murray, former executive vice president and COO of Enterprise Canada Insurance Services, has started her own company, A.M. Associates. The new company will focus on commercial lines consulting and research for insurers, brokers and law firms. Allianz Canada has

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Tech Squeeze on Auto Fraud

February 1, 2004 Ivor Kaye

Say the word “fraud” and insurers shake in their boots. Of the host of financial challenges facing the insurance industry today, fraud ranks as perhaps the most menacing. However, new technologies may provide a solution to beat back the “fraud monster” – if the industry stakeholders are willing to join together to create integrated systems.

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MPI Net Income Up Despite Claims Growth

February 1, 2004 by Canadian Underwriter

For the first three quarters ending November 30, 2003, Manitoba Public Insurance (MPI) is reporting growth in net income to $38.7 million, up from $23.1 million for the same period a year earlier. Investment income was almost double, hitting $85.4

Mark Yakabuski
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Insurers Warm Up to Ontario Auto Reforms

February 1, 2004 by Canadian Underwriter

Insurers have come out in favor of Ontario’s new auto insurance reforms. The McGuinty Liberals had promised legislative reforms after freezing rates shortly after taking office in October. Although the latest product reforms mean the end of the rate freeze,

Nadia Romano
Feature

On the Move (January 01, 2004)

January 1, 2004 by Canadian Underwriter

Sinclair-Cockburn Financial Group has named Nadia Romano as personal lines manager, capitalizing on more than 20 years of insurance industry experience, including two years on the firm’s senior management team. Adjuster Cunningham Lindsey Canada Ltd. announces vice president, operations Lorri

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Letter to the Editor (January 01, 2004)

January 1, 2004 by Canadian Underwriter

In his Letter to the Editor (CU’s November 2003 issue, page 49) broker Neil Whetham criticizes writer Craig Harris for comments made in Harris’ August 2003 article “Building Boom Insurance Bust.” In particular, Whetham singles out Harris’ closing comments that,

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Moments In Time (January 01, 2004)

January 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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Allianz Canada Rating Lowered With Negative Outlook

January 1, 2004 by Canadian Underwriter

Rating agency Standard & Poor’s has lowered the counterparty credit and financial strength ratings of Allianz Insurance Co. of Canada and Trafalgar Insurance Co. of Canada to “BBB+” from “A+”. The ratings have been taken off watch, but have been

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MPI Rates to Rise 3.7%

January 1, 2004 by Canadian Underwriter

Manitoba Public Insurance (MPI) has broken its six-year rate freeze, and will hike basic auto insurance rates by 3.7% for 2004. The province’s Public Utilities Board (PUB) ordered the increase, which will add about $30 to the average family passenger

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Us Tort Costs Hit US$233 Billion

January 1, 2004 by Canadian Underwriter

Tort costs in the U.S. hit the roof in 2002, climbing a record US$27.4 billion to US$233 billion, reports Tillinghast-Towers Perrin. This amounts to US$809 per person, an US$87 increase over 2001. The single largest factor in the increase is

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Peas In A Pod?

January 1, 2004 Saqib Durrani

The many changes introduced to Ontario’s auto insurance legislation over the years has resulted in insurers responding to the increasingly complex regulatory environment by applying new practices and procedures in their claims handling processes. The effectiveness of these processes in many cases depends on “trial and error” experience, which in itself can unravel new uncertainties relating to specific situations. Such is the case with settlement of loss of income claims made by self-employed individuals.