Canadian Underwriter

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Risk Management


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Allianz granted license as “branch” of U.S. operation

October 12, 2004 by Canadian Underwriter

Allianz’s remaining business in Canada Allianz Global Risks (AGR Canada) has received approval from the federal insurance regulator to operate as a branch of Allianz Global Risks US Insurance Company.The company also expects to receive its provincial licenses in November,

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Can D&O risk be quantified?

October 12, 2004 by Canadian Underwriter

Quantifying directors’ and officers’ (D&O) exposures is not only possible, but necessary in the current environment where shareholder lawsuits proliferate, says one analytics company.Advisen Ltd. co-founder David Bradford says insurers must look beyond more traditional tools to new metrics for

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"Significant strides" made in corporate governance: Moody’s

October 7, 2004 by Canadian Underwriter

In a study of 169 U.S. and Canadian entities over the past year, rating agency Moody’s says great strides have been made towards better corporate governance.Among the improvements, Moody’s finds greater commitment by directors for such functions as risk management,

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What’s new: In brief (October 06, 2004)

October 6, 2004 by Canadian Underwriter

As expected, drug maker Merck is already facing lawsuits after pulling its pain medication Vioxx from the shelves. The company announced the move last week, in response to concerns over the drug’s side effects. Vioxx is used widely by arthritis

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RIMS Canada Conference: RIMS president pushes international agenda

October 5, 2004 by Canadian Underwriter

Almost halfway through her term as RIMS president, Nancy Chambers says the journey thus far “has had lots of breathless moments”. Hearkening back to her introductory speech as president at the San Diego RIMS Conference in April, she says her

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RIMS Canada Conference: Risk managers challenge service standards

October 5, 2004 by Canadian Underwriter

Among the many impacts the insurance industry experienced as a result of the 9/11 disaster was a recognition of the abysmal state of service taking place in commercial insurance ranks. So said a panel of speakers representing all segments of

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What’s new: In brief (October 05, 2004)

October 5, 2004 by Canadian Underwriter

The 2004 recipient of the Don Stuart Award, risk management’s highest honor, is Joseph Restoule. Restoule, accompanied by wife Patti, accepted the award Tuesday at the RIMS Canada Conference in Winnipeg. Restoule is director of risk & insurance for NOVA

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RIMS Canada Conference: Global standards for risk management sought

October 4, 2004 by Canadian Underwriter

The search for a global standard for risk management begins with finding a common language, say speakers at the 29th annual RIMS Canada Conference being held this week in Winnipeg, Manitoba. “We see the growing emergence of a more common

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RIMS Canada Conference: Risk managers urged to “seize the moment”

October 4, 2004 by Canadian Underwriter

“Carpe diem”. Seize the day. Risk managers are enjoying a moment in the spotlight and now is the time to break down the corporate “silos” and push enterprise-wide risk management (ERM) to the board level. So say speakers at the

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Reserve deficiency hits US$67 billion: A.M. Best

October 4, 2004 by Canadian Underwriter

Despite moves by several companies to bolster reserves over the past three years, the p&c industry remains under-reserved to the tune of US$67 billion, according to rating agency A.M. Best. In a special report, the rater says reserve adequacy remains

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Lloyd’s urges insurers to address public image

October 3, 2004 by Canadian Underwriter

Insurers must address their “pretty appalling” reputation with the public, Lloyd’s director of worldwide markets told the Chartered Insurance Institute Annual Conference last week.James says the industry has lost public confidence, as well as that of investors and regulators, in

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What’s new: In brief (October 03, 2004)

October 3, 2004 by Canadian Underwriter

Increasing variety in reinsurance tools and increasing exposure of reinsurers to catastrophic risks are among the topics discussed in a new report by LOMA. The report, which covers jumbo tort liability claims, cyber risks, and expanding ocean marine risks, amongst