Segment
Risk Management
RIMS Canada Conference: Risk managers urged to “seize the moment”
October 4, 2004 by Canadian Underwriter“Carpe diem”. Seize the day. Risk managers are enjoying a moment in the spotlight and now is the time to break down the corporate “silos” and push enterprise-wide risk management (ERM) to the board level. So say speakers at the…
Reserve deficiency hits US$67 billion: A.M. Best
October 4, 2004 by Canadian UnderwriterDespite moves by several companies to bolster reserves over the past three years, the p&c industry remains under-reserved to the tune of US$67 billion, according to rating agency A.M. Best. In a special report, the rater says reserve adequacy remains…
Lloyd’s urges insurers to address public image
October 3, 2004 by Canadian UnderwriterInsurers must address their “pretty appalling” reputation with the public, Lloyd’s director of worldwide markets told the Chartered Insurance Institute Annual Conference last week.James says the industry has lost public confidence, as well as that of investors and regulators, in…
What’s new: In brief (October 03, 2004)
October 3, 2004 by Canadian UnderwriterIncreasing variety in reinsurance tools and increasing exposure of reinsurers to catastrophic risks are among the topics discussed in a new report by LOMA. The report, which covers jumbo tort liability claims, cyber risks, and expanding ocean marine risks, amongst…
What’s new: In brief (September 30, 2004)
September 30, 2004 by Canadian UnderwriterAon Corp. is seeking a new CEO with news of the departure of CEO Patrick Ryan. While Ryan will remain as CEO until a successor is found, he also plans to maintain his role as chair of the board even…
Blockbuster class action dismissed in Quebec
September 30, 2004 by Canadian UnderwriterAn attempt by Blockbuster Inc. customers to launch a class action suit against the video store chain over its fees has been blocked by the Quebec courts.Blockbuster announced this week that after a two-week hearing, the Quebec Superior Court had…
Trial lawyer chosen as consumer advocate in Newfoundland
September 27, 2004 by Canadian UnderwriterThe Newfoundland government has selected a trial lawyer to act as consumer advocate in its hearings on insurance issues before the Public Utilities Board (PUB).Tom Johnson, a partner in O’Dea Earle Law Offices, will speak on behalf of consumers at…
Buying of stand-alone “side A” D&O cover on the rise: Willis
September 23, 2004 by Canadian UnderwriterExecutives are increasingly looking to protect their personal assets through the purchase of stand-alone “side A” directors’ and officers’ (D&O) cover, according to a new study by international broker Willis.The coverage, designed to protect directors and officers when the company…
What’s new: In brief (September 21, 2004)
September 21, 2004 by Canadian UnderwriterLloyd’s chairman Lord Peter Levene called Texas “a state at risk” and called upon the city’s business to do more in terms of improving security and risk management. “Many companies have improved their security measures considerably since September 11th, but…
E&S premiums up 28% in 2003: A.M. Best
September 21, 2004 by Canadian UnderwriterThe U.S. excess & surplus (E&S) lines industry saw direct premiums rise 28% in 2003, compared to just 12% growth in the overall property & casualty industry, according to a new report by A.M. Best.E&S writers saw premiums jump 62%…
What’s new: In brief (September 20, 2004)
September 20, 2004 by Canadian UnderwriterWindow cleaners in the U.K. are up in arms over insurance rate hikes. The British Cleaning Council (BCC) says that a 50% or more hike in premiums for those who are even able to acquire coverage at all is putting…
Converium keeps stake in Global Aerospace
September 19, 2004 by Canadian UnderwriterConverium will keep its stake in Global Aerospace thanks to a “fronting” arrangement now in place. Converium currently has a 27.25% share in the provider of airline coverage. The fronting arrangement is with Berkshire Hathaway’s National Indemnity and Munich Re,…