Canadian Underwriter

Features


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Global Political Risks – Post-9/11

March 1, 2004 Sean van Zyl, Editor

Suicide bombings in Baghdad continue to see a rising toll in deaths of “reconstruction” foreign workers and military personnel…Ongoing conflict between Palestinians and Israelis continues to produce reprisal acts of violence…A coup de tat in Haiti results in mass civil

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Vicarious Costs

March 1, 2004 William Blakeney

Sexual Abuse in the Church Under Scrutiny; Vicarious liability is the startling legal concept that someone can be held liable for a third party’s injuries when they were not actively involved in the incident that caused the damages. Parties sued for vicarious liability are generally, but are not always in a supervisory position over the person who would ordinarily be personally responsible.

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The Next Big “Tail” Liability?

March 1, 2004 Allison Murray

While many insurers have written food-processing risks with a lenient attitude – with an eye cast at the food processing industry’s historically attractive underwriting result – warning lights are now beginning to blink, suggesting that litigation involving the entire food processing enterprise, both animal and human, may be the next big thing in long-tail product liability.

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Tough Times for Main Street

March 1, 2004 by Canadian Underwriter

Premium hikes and availability issues have prompted the Canadian Federation of Independent Business to call for a federal review of the property and casualty insurance industry. But, insurers and brokers say solutions for small businesses should be market-driven, not political. They also contend that the market is working.

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The Dawn of Corporate Criminal Responsibility

March 1, 2004 Glenn McGillivray

More than eleven years after an explosion ripped through the Westray coal mine in Plymouth, Nova Scotia killing 26 miners and triggering a decade-long legal battle for victims’ families, new federal legislation will make corporations, their management, directors and officers legally responsible for unsafe work environments.

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Outsourcing: Regulators Take Notice

March 1, 2004 Brian Reeve

One of the most important trends to have evolved in the insurance industry is the use of outsourcing to reduce costs and improve the quality of service to customers. Most insurers have already reduced their costs as much as possible. However, the use of outsourcing, particularly to offshore low-cost jurisdictions, is rapidly becoming unavoidable in order to remain competitive in the insurance industry.

From left: Gordon Rasbach, Bob Carter, Jim Eso, Norm Groot, Keith Edwards, mediator Brian Maltman, Ann Cavoukian
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CICMA/CIAA Joint Conference: Testing the Limits

March 1, 2004 Vikki Spencer

As claims managers and adjusters entered the new year they faced tough federal privacy legislation which presented a host of unknown factors to their work environment: public reaction, professional limitations, and whether the industry’s existing claims handling standards would hold

OIAA
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Moves & Views (March 01, 2004)

March 1, 2004 by Canadian Underwriter

The Toronto Metro Convention Centre was home to the Insurance Institute of Ontario (IIO) Convocation and Awards Dinner. Amongst the honorees were (clockwise from top) Sunit Datta, Rajdeep Chopra and Richard Y.K. Liu, all of whom were presented with multiple

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Co-Operators Pulls in Strong 2003 Return

March 1, 2004 by Canadian Underwriter

2003 saw a giant leap in net income for Guelph, Ontario-based Co-operators General Insurance Co. (TSX: CCS.PR.A). The company generated net profit of $44.0 million for the 2003 financial year versus a loss of $1.1 million reported the year prior.

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On Firm Ground..?

March 1, 2004 Sean van Zyl, Managing Editor

Have insurers finally found their “financial feet”? Initial industry financial data revealed by the Insurance Bureau of Canada (IBC) at Swiss Reinsurance Co. Canada’s recently held “Statistical Breakfast” seminar suggests at dramatic improvement in underwriting across most lines of business

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Hazel Hit Toronto Hard

March 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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Insurers’ ROE Bounces Back to 10% for 2003

March 1, 2004 by Canadian Underwriter

Property and casualty insurers finished the 2003 financial year with a return on equity (ROE) of 10.7%, according to initial data released by the Insurance Bureau of Canada (IBC). The latest full-year return reflects a nine percentage point improvement in