Canadian Underwriter

Segment
Risk Management


News Insurance

India top spot for offshoring: Deloitte

June 28, 2004 by Canadian Underwriter

A study of financial services offshoring practices finds India remains the top stop, with over 80% of offshoring moving there. The study by Deloitte Research finds the offshoring trend is on the rise, up 38% this year over last.The top

News Insurance

What’s new: In brief (June 22, 2004)

June 22, 2004 by Canadian Underwriter

Statistics Canada’s Consumer Price Index (CPI) says homeowners’ insurance rates were up 12.5% in May compared to a year ago, partly as a result of renewals in Ontario. At the same time, homeowners’ replacement costs soared 6.5% on higher housing

News Insurance

Risk managers need elevated role to implement ERM

June 21, 2004 by Canadian Underwriter

Risk managers need to be positioned high enough in their organizations to effect enterprise-wide risk management (ERM) throughout the organizational structure, says a new position paper by the International Federation of Risk and Insurance Management Associations (IFRIMA).IFRIMA president Sue Meltzer,

News Insurance

What’s new: In brief (June 20, 2004)

June 20, 2004 by Canadian Underwriter

Anthony Clark International Insurance Brokers Ltd. has settled a previously disclosed lawsuit filed by James Bonfiglio claiming the company failed to honor a stock option agreement in October, 1998. In its 2003 yearend results, ACL reported a $515,000 judgement had

News Insurance

What’s new: In brief (June 17, 2004)

June 17, 2004 by Canadian Underwriter

The Alberta Workers Compensation Board (WCB) says premiums for 2005 should drop by 7.6% to $1.83 for every $100 of insurable earnings. This is down from $1.98 for 2004. In 2003, the WCB saw injury rates fall, with 1,000 fewer

News Insurance

North American insurers stable; reinsurers face challenges

June 17, 2004 by Canadian Underwriter

While the outlook for North American insurance holding companies remains stable, their counterparts in the reinsurance sector can expect downgrades to outweigh upgrades in the near future, says rating agency Standard & Poor’s. Despite continued rate increases, S&P has extended

News InsuranceMergers and Aqcuisitions

Prospect of FA withdrawal highlights Newfoundland auto woes

June 16, 2004 by Canadian Underwriter

The potential for the Facility Association (FA) the industry’s pool for high-risk drivers to exit Newfoundland should be a sure sign to the province’s government that auto reforms newly legislated are a step in the wrong direction, says one risk

News Climate ChangeInsurance

Losses from N.B. forest fires likely covered: IBC

June 15, 2004 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is getting the word out to New Brunswickers that losses from forest fires in the province should be covered by their insurance policies.A forest fire Monday scorched 125 acres near Lower Coverdale, just outside

News Climate ChangeInsurance

Trucking seminar: U.S. litigation trends coming to Canada soon

June 15, 2004 by Canadian Underwriter

U.S.-style litigation against long-haul trucking companies is “creeping into Canada”, says lawyer Paul Iacono of York Street Dispute Resolution Group. Iacono made the comments as part of a seminar on transportation litigation sponsored by Kingsway General Insurance Co. in Mississauga

News InsuranceMergers and Aqcuisitions

US commercial and personal lines given stable outlook: S&P

June 14, 2004 by Canadian Underwriter

At long last, the U.S. commercial lines sector has seen its outlook revised by rating agency Standard & Poor’s to stable, in line with the personal lines outlook.S&P points to a “delicate balance” between earnings growth and legacy reserving issues

News Climate ChangeInsurance

Silica could be next asbestos: S&P

June 14, 2004 by Canadian Underwriter

A new article by Standard & Poor’s addresses the issue of silica exposure and its potential impact on insurers. “The parallels to asbestos are of concern to us,” says S&P credit analyst John Iten. He expects silica litigation growth could

News Insurance

Contingent commission investigation takes in p&c, life and health insurers

June 14, 2004 by Canadian Underwriter

The contingent commission investigation by New York Attorney General Eliot Spitzer has now been extended to insurers, with Chubb, Hartford Aetna and MetLife confirming they have been subpoenaed. Each company has issued a brief statement Chubb’s coming in May, and