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Risk Management


News Insurance

Chubb study finds 60% of companies anticipating employee theft

September 13, 2004 by Canadian Underwriter

A new study commissioned by the Chubb Group of Insurance Companies finds 60% of private companies anticipate an employee will steal funds or equipment this year. Also, 34% say an employee may steal funds from a client. A full 39%

News Insurance

Credit derivatives market expands: Fitch

September 9, 2004 by Canadian Underwriter

The global credit derivatives market (CDx) was up to US$2.8 billion of gross sold outstanding (US$3 trillion including cash collateralized debt obligations), up 71% over 2002, according to the latest study by Fitch Ratings. The rater notes that single-name credit

News Insurance

Rate relief creeping into PL lines despite claims growth

September 9, 2004 by Canadian Underwriter

Rate softening is beginning to creep into the professional liability market, despite continued pressure on claims, said speakers at Thursday’s “Errors & Omissions” seminar hosted by the Toronto Insurance Conference (TIC).The seminar looked at broker E&O, but expanded quickly into

News Insurance

What’s new: In brief (September 07, 2004)

September 7, 2004 by Canadian Underwriter

Aviva has sold its general insurance business in Asia to Mitsui Sumitomo Insurance in a cash transaction valued at 249 million pounds (Cdn$570 million). Aviva says it intends to focus on its long-term savings business in the region. The first

News Climate ChangeInsurance

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

September 6, 2004 by Canadian Underwriter

The friends of Mike Yang are staging two events to raise funds for this industry veteran, who is recovering from a serious illness experienced last fall. Funds are needed to help Mike and his family modify their home and vehicle

News Climate ChangeInsurance

Hurricane Frances damage estimates reduced to US$2-5 billion

September 6, 2004 by Canadian Underwriter

Insured loss estimates from Hurricane Frances, which touched down on Florida’s Atlantic Coast and stayed for the best part of the holiday weekend, have been downgraded to US$2-$5 billion by risk modeling firm EQECAT Inc., with overall economic damage potentially

News Insurance

What’s new: In brief (August 30, 2004)

August 30, 2004 by Canadian Underwriter

The Toronto Insurance Conference has set the line-up for its annual seminar, slated for Thursday, September 9 at the Toronto Marriott Eaton Centre. The program, which runs through the morning, focuses on “Errors & Omissions” for brokers and commercial clients.

News Climate ChangeInsurance

Charley highlights business coverage issues

August 26, 2004 by Canadian Underwriter

A new public service release from the Property Casualty Insurers Association of America (PCI) discusses the impact Charley has had on commercial interests in Florida. It notes that some covers which are not standard to businesses, but which can be

News Insurance

Terrorism insurance buys up in second quarter: Marsh

August 25, 2004 by Canadian Underwriter

More than 46% of U.S. businesses who purchased property insurance in the second quarter of 2004 also bought terrorism risk coverage, according to the latest survey from international broker Marsh Inc.Marsh has been tracking terrorism insurance purchases since the implementation

News Climate ChangeInsurance

ISO pegs Charley loss at US$6.8 billion

August 25, 2004 by Canadian Underwriter

The total insured loss from Hurricane Charley should be around US$6.8 billion, says the U.S. Insurance Services Office (ISO). ISO’s Property Claim Services unit says the category 4 hurricane, which hit Florida on August 13, will cause US$6.755 billion in

News Climate ChangeInsurance

What’s new: In brief (August 25, 2004)

August 25, 2004 by Canadian Underwriter

The crash of two Russian airliners which left 89 dead late Tuesday is under investigation, with some speculating the cause is terrorism, but Russian officials saying there is no evidence of terrorism at this point. The outcome of this investigation

News Insurance

Contingency fees must be fully disclosed: RIMS

August 24, 2004 by Canadian Underwriter

The organization representing commercial insurance buyers has not come out against broker contingent commissions, but is issuing strong words on the need for full disclosure of such arrangements. In its policy statement on compensation agreements, the Risk and Insurance Management