Canadian Underwriter

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Risk Management


News Insurance

Global aviation market “precarious”: Aon

March 11, 2004 by Canadian Underwriter

A new report by international broker Aon suggests the global aviation market is facing a very uncertain future with premiums falling last year.Aviation losses were down in 2003 to the lowest level in history in 2003, and rates fell by

News Insurance

Lindsey Morden hands off U.S. TPA business

March 10, 2004 by Canadian Underwriter

Fairfax’s Lindsey Morden Group has agreed to sell its U.S. third-party administration (TPA) businesses, which include RSKCo Services and Cunningham Lindsey Claims Management Inc. (CMI). The new owner, Broadspire Services Inc., says the two companies will be merged into its

News Insurance

Insurers need to take action on ERM: PWC report

March 9, 2004 by Canadian Underwriter

Insurers are doing a lot of thinking about enterprise-wide risk management (ERM) programs, but not taking enough action, suggests a new study by PriceWaterhouseCoopers. Insurers see the value in ERM in meeting their financial goals, the study shows, but also

News Insurance

Cybercrime and fraud on the rise in Canada: PWC study

March 9, 2004 by Canadian Underwriter

Economic crime, and cybercrime in particular, are on the rise, says a new survey by PriceWaterhouseCoopers LLP. The consulting firm says more than one-third of companies report being a victim of fraud in the last two years, a figure much

News Insurance

RIMS survey shows long-term change in commercial insurance market

March 8, 2004 by Canadian Underwriter

The annual edition of the Risk and Insurance Management Society (RIMS) Benchmark Survey shows that while the hard market is waning, commercial insurance buyers are anticipating a new kind of market with more diverse risk transfer options and the potential

News InsuranceMergers and Aqcuisitions

U.S. p&c insolvencies drop in 2003 on price corrections

March 5, 2004 by Canadian Underwriter

Rising premiums in both the commercial and personal lines p&c sectors led to the lowest level of insurer insolvency in the U.S. since 1998, says rating agency Standard & Poor’s. Reporting on 2003 yearend figures, S&P says a total of

News InsuranceMergers and Aqcuisitions

Sedans luring thieves: Crime Bureau

March 1, 2004 by Canadian Underwriter

Thieves are targeting sedans, including older model vehicles, for parts, says a new report by the U.S. National Insurance Crime Bureau (NICB).The non-profit organization, which was established to fight vehicle theft and insurance fraud, looked at the most stolen vehicles

News Insurance

Sedgwick Claims opens Canadian office

February 25, 2004 by Canadian Underwriter

Memphis-based Sedgwick Claims Management Services Inc. is taking on the Canadian market with the opening of Sedgwick CMS Canada Inc., the first move outside the U.S. for Sedgwick.The new office will be based in Mississauga, Ontario, and will be headed

News Climate ChangeInsurance

WTC “occurrence” trial will not affect ratings

February 20, 2004 by Canadian Underwriter

Regardless of the outcome of the trial now underway to determine how much will be paid out on the World Trade Center (WTC) destruction, insurers involved will not see a ratings impact, says Standard & Poor’s.The jury trial will decide

News InsuranceMergers and Aqcuisitions

SGI gives break to commercial auto policyholders

February 20, 2004 by Canadian Underwriter

Following on its “safe driver recognition program”, Saskatchewan Government Insurance (SGI) is planning to offer discounts to its commercial clients.SGI predicts that during the first year of the program, about $2.8 million in policy discounts based on safe driving records

News Climate ChangeInsurance

ICLR study casts light on government role in disaster mitigation

February 19, 2004 by Canadian Underwriter

A new study released by the Institute for Catastrophic Loss Reduction (ICLR) encourages government to put resources towards disaster mitigation and gives specific direction on what form government action should take on this issue.In “The Role of Government In Services

News Insurance

“No return to a soft market” for real estate risks, Willis cautions

February 18, 2004 by Canadian Underwriter

In a new report on the real estate insurance market, global broker Willis says despite price relief in the property line, other coverages and a continued hard line on terms and conditions are still causing headaches for the industry.Speaking of