DANGEROUS WATERS: A GUIDE TO INSURING GENERAL LIABILITY MUNICIPAL PROGRAMS
June 1, 2001 David Wade, an independent risk management consultantMention Walkerton, and the immediate thought that jumps to mind is “water contamination”. The tragic deaths that occurred in Walkerton, Ontario last year as a result of contaminated water supply are a stark reminder of the importance of risk management. A proper risk management program applied by the Walkerton authorities could have averted the tragedy that took place. As such, insurers looking to underwrite general liability insurance products for municipalities need to focus on the appropriate risk containment programs applied by these insureds.
Seattle quake estimates high
May 1, 2001 by Canadian UnderwriterAn earthquake that shook Seattle and nearby areas in Washington and Oregon will cost insurers about $330 million, says a press release from the Insurance Services Office (ISO). The quake, which struck on February 28 and measured 6.8 on the…
claims 2001: COURTING DISASTER
April 1, 2001 Vikki SpencerTrends emerging in claims handling suggest that adjusters will be busy in the year ahead, delegates at the recently held Ontario Insurance Adjusters Association conference were told. Fraud and litigation were central topics, with speakers predicting new perils in bad faith and class action lawsuits.
IN THE EYE OF THE STORM
April 1, 2001 Glenn McGillivray, assistant vice president & head of corporateThe prospect of a growing tornado loss potential due to underlying increases in exposed insurable equity coupled with the historical frequency associated with tornadoes do not bode well for the insurance industry’s future.
VANCOUVER’S REAL EARTHQUAKE RISK: FIRE
April 1, 2001 Sean van Zyl, EditorThe recent earthquake which shook residents of Seattle and Olympia in north Washington state has given risk managers with exposures in southwestern British Columbia more than a mild shudder. It has long been known that the highly urbanized cities of…
Winds of change at home
April 1, 2001 by Canadian UnderwriterCanada has never seen the severity like the twisters that tore through the U.S. in early May, 1999, or the frequency as in the fateful day of April 3, 1974 when 148 twisters touched down in 13 U.S. states –…
Quake reminder
April 1, 2001 by Canadian UnderwriterFollowing a fairly mild earthquake which shook the Queen Charlotte Islands and surrounding areas in British Columbia in early February, a second quake of a much greater magnitude of 6.8 on the Richter Scale occurred in the northern part of…
THE CYBER RISK: protecting non-property losses
April 1, 2001 Fred Shurbaji, underwriting manager of Chubb & Son's departmentIn a relatively short period in the historical record of mankind’s social development and exploration, technology advancements over recent decades have thrust us beyond what anyone three generations past could possibly have envisaged. But, with the rewards of advancement also comes risk, and similar to the charting of hidden reefs by early sea trade merchants, modern-day businesses need to identify and defend against their online technology risks – both tangible and non-tangible property.
Cross-Canada broker survey BRIDGING THE GAP
March 1, 2001 Vikki SpencerA time of sweeping change. This is no understatement of the current regulatory, market and distribution conditions in the insurance industry. For the country’s brokers, this time of change means refocusing lobby efforts, translating the hardening of rates to their…
Shaker rumbles B.C.
March 1, 2001 by Canadian UnderwriterResidents of B.C.’s Queen Charlotte Islands were reminded of the province’s risk to earthquakes when a shaker measuring a magnitude of 6.2 on the Richter scale occurred on February 17, at 12:12pm. The “mini quake” was followed by another tremor…
A NEW ORDER VALUE OR LOST OPPORTUNITY?
March 1, 2001 Sean van Zyl, EditorComing years will see increased attention being brought to bear on the service performance of the claims management side of the insurance business, delegates who attended the recently held Canadian Insurance Claims Managers Association and Canadian Independent Adjusters Association joint…
CYBER-EXPOSURE a risky business
March 1, 2001 Vikki SpencerCorporate takeovers. Plummeting stock prices. Falling profits. These used to be the primary fears of the corporate world. Today, enemy number one could be a fourteen-year-old sitting in front of a home computer with the power to bring business to…