Canadian Underwriter

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Risk Management


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 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

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 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

News Insurance

Risk retention groups on the rise

May 31, 2004 by Canadian Underwriter

Risk retention groups (RRGs) are on the upswing, according to data compiled by the U.S.-based Risk Retention Reporter.In 2003, RRG premiums rose to US$1.73 billion dollars, up from US$1.27 billion in 2002. In the last 17 years, RRG premiums have

News Climate ChangeInsurance

What’s new: In brief (May 30, 2004)

May 30, 2004 by Canadian Underwriter

A.M. Best has placed the “B++” (very good) rating of Federated Life under review with developing implications as a result of its sale to Western Financial Group by parent Northbridge Financial. The rater says it will meet with Western management

News Insurance

Risk managers see conflict in contingent commissions: survey

May 26, 2004 by Canadian Underwriter

Despite risk managers and brokers shrugging off investigations of contingent commission arrangements, a new survey suggests commercial insurance buyers do see such payments as a conflict of interest.The study, “A Season of Discontent” by Advisen, shows 69% of the 331