Segment
Risk Management
Catastrophe Modeling: Shifting Perceptions
June 1, 2003 Eric Gobble and Don Windeler at RMSAs 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.
OSFI’s Supervisory Ratings: Rating the Risk
April 1, 2003 by Canadian UnderwriterIn 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…
Recognition of risk management growing, survey shows
February 18, 2003 by Canadian UnderwriterFinancial 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…
France, Germany face almost $1.5 billion loss from windstorm
January 8, 2003 by Canadian UnderwriterWindstorm 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…
Government works towards risk management program for farmers
December 5, 2002 by Canadian UnderwriterIn 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…
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?
Cost of risk declines in 2000, but signs point to hardening
December 6, 2001 by Canadian UnderwriterThe 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…
Aon expands captive presence through acquisition
August 7, 2001 by Canadian UnderwriterAon 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…
DEVELOPING A PROFESSION
April 1, 2001 Vikki SpencerAt 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…