Canadian Underwriter

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Risk Management


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

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 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 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

News InsuranceMergers and Aqcuisitions

What’s new: In brief (June 14, 2004)

June 14, 2004 by Canadian Underwriter

The Canadian Independent Adjusters Association (CIAA) has revised its program for the 2004 annual convention to be held in Whistler, BC, September 9-12. Friday now includes an entire day of educational sessions, revolving around the issues of legislative change and

News Insurance

Restaurants concerned with insurance implications of BYOW

June 10, 2004 by Canadian Underwriter

With the introduction in the Ontario legislature of a bill to allow restaurant patrons to “bring your own wine” (BYOW), restaurant owners are expressing concern the legislation will have negative insurance implications. Specifically, the Ontario Restaurant, Hotel and Motel Association

News Insurance

No stability in commercial insurance market: panel

June 8, 2004 by Canadian Underwriter

Risk managers and brokers have been shocked by the rapid return of soft market conditions, a panel of speakers told the World Insurance Forum in Bermuda yesterday.“We’re not seeing any sort of rate stability in the marketplace today,” admits Peter

News Climate ChangeInsurance

Do not prepare for end to insurance cycles: Sinnott

June 8, 2004 by Canadian Underwriter

Despite much talk of the need to “tame the insurance cycle”, buyers should prepare themselves for continuing fluctuation in the price and availability of insurance, John T. Sinnot, senior advisor, Marsh & McLennan Cos. told delegates to the World Insurance

News Insurance

Insurer exposure to reinsurance credit risk varies widely: study

June 7, 2004 by Canadian Underwriter

A study of top commercial insurance writers in the U.K. illustrates the wide variance in exposure to reinsurance credit quality and other financial strength indicators. The study “Insurer Financial Strength Examined” looks at key indicators commercial clients need to assess

News Insurance

Insurers unruffled by class action reform delay

June 3, 2004 by Canadian Underwriter

Insurers are unconcerned by the delay of voting on class action reform by the U.S. senate. Senate majority leader Bill Frist of Tennessee had tried to force cloture on the bill, the “Class Action Fairness Act”, but agreed to delay