Canadian Underwriter

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Risk Management


News Insurance

Associations drawing up enterprise risk framework

July 24, 2003 by Canadian Underwriter

Several financial associations are working together on a framework for enterprise risk management (ERM). The Committee of Sponsoring Organizations of the Treadway Commission (COSO), which combines five accountancy and finance organizations, commissioned the framework from Pricewaterhouse Coopers early last year.

News Insurance

Lloyd’s gets “thumbs up” from A.M. Best

July 18, 2003 by Canadian Underwriter

In affirming the “A-” (excellent) rating of Lloyd’s of London, rating agency A.M. Best says the outlook for the world’s oldest insurance market remains stable.Strong capitalization, stable investment returns and a new focus on risk management are all factors leading

Feature

Catastrophe Modeling: Shifting Perceptions

June 1, 2003 Eric Gobble and Don Windeler at RMS

As Canada’s insurers seek to quantify their catastrophe exposure, earthquake models offer an insight into how technology can further underwriting. Even events south of the border illustrate the wealth of new information at insurers’ fingertips to better comprehend large losses that can have a significant impact on reinsurance and reserves.

Feature

OSFI’s Supervisory Ratings: Rating the Risk

April 1, 2003 by Canadian Underwriter

In 1999, the Office of the Superintendent of Financial Institutions (OSFI) – Canada’s federal regulator of financial institutions – released its “Supervisory Framework” outlining an innovative approach to supervision. The framework is risk-based and enhances OSFI’s ability to intervene on

News Insurance

Recognition of risk management growing, survey shows

February 18, 2003 by Canadian Underwriter

Financial institutions are showing an increased understanding of the need for enterprise-wide risk management (EWRM), says a survey of financial institutions from The Risk Management Association (RMA) and First Manhattan Consulting Group.Among 30 U.S.-based financial institutions, the study found that

News Insurance

France, Germany face almost $1.5 billion loss from windstorm

January 8, 2003 by Canadian Underwriter

Windstorm Calvann, which swept across France and Germany late last week, has produced Eur900 million in insured damages (Cdn$1.47 billion), according to preliminary estimates from Risk Management Solutions Inc.The California-based catastrophe risk management solutions provider says the January 2 storm

News Insurance

Government works towards risk management program for farmers

December 5, 2002 by Canadian Underwriter

In the wake of devastatingly bad conditions, both drought and flood, damaging crops this year, governments are working towards a risk management program for the agriculture industry.This week, federal, provincial and territorial agriculture departments met to review proposals on the

PHOTOGRAPHY: EYEWIRE
Feature

Into the Fire

September 1, 2002 Brian Jones, president of Jones Brown Inc.

Devastating condominium fires, such as the most recent blaze at Calgary’s Waterford complex, have created challenges for the construction industry and builders risk insurance market. Are the actions of insurers justified relative to loss experience, and how are insureds reacting to the tighter terms and pricing of cover?

News Insurance

Cost of risk declines in 2000, but signs point to hardening

December 6, 2001 by Canadian Underwriter

The cost of risk declined in 2000, according to a survey released by the Risk and Insurance Management Society (RIMS). The annual Benchmark Survey, conducted with Ernst & Young, asks more than 830 risk managers in the U.S. and Canada

News Insurance

Aon expands captive presence through acquisition

August 7, 2001 by Canadian Underwriter

Aon Corporation is expanding its captive and risk management business through the purchase of Sinser Holding AB, a subsidiary of Swedish-based Skandia Group. The capitve management and consulting business deals with more than 250 captives in 10 coutries, and includes

Steve Kelly Sue Meltzer Keith Shakespeare
Feature

DEVELOPING A PROFESSION

April 1, 2001 Vikki Spencer

At the recent Ontario Risk Management and Insurance Society (ORIMS) professional development day, a host of speakers expressed the need for expanding the knowledge and influence of risk managers in the corporate structure. With new approaches to risk financing and