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Risk Management: DANGER OF THE CYBER DEEP

September 1, 2000 Vikki Spencer

Counting the costs of risks associated with the rapid rise of computer technology is no simple task, say risk managers. But, recent surveys say “cyber risks” will be the next big challenge. Are today’s risk managers prepared to stay afloat in these dangerous waters, or will they be sitting ducks?

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Alberta, Ontario struck by tornadoes

August 1, 2000 by Canadian Underwriter

The aftermath of tornado action in late July left massive damage in parts of Alberta and southern Ontario – the insured cost of which is likely to run into millions of dollars. As a result, the Insurance Bureau of Canada…

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Reinsurance market innovations: Staying Alive

July 1, 2000 Glenn McGillivray, head of corporate communication at Swiss Rein

What are some of the world’s reinsurers doing to move forward amid what has been the worst market downturn in recent memory?

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Reinsurance market outlook: Margins Wear Thin

July 1, 2000 Sean van Zyl, Editor

The global reinsurance market suffered its worst underwriting year in 1999, largely as a result of natural disaster catastrophe losses estimated to having cost the industry about US$24 billion. European reinsurers finished 1999 with an alarming 131% combined ratio, the…

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WANTED: Partners against natural disasters

July 1, 2000 Linda Matthews, COO of Royal & SunAlliance Canada

For most Canadians, a natural disaster is something that takes place half a world away, generally in poor, under-developed countries, across the hurricane swept Caribbean, or along the southeast coast of the U.S. But more natural disasters are happening in our own backyard, adding to the burden of risk management, and raising concern that resources for immediate disaster relief will be spread too thin.

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Expanding horizons for independent adjusters

July 1, 2000 Vikki Spencer

If bigger is better, then Paul Hancock’s plans for the Canadian Independent Adjusters Association will be welcome news to its members. The incoming president has his eye squarely on expanding membership, increasing the association’s profile, and making strides in the battle for industry self-regulation.

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Catastrophe loss mitigation: Saving What We Have

June 1, 2000 Sean van Zyl, Editor

Included in the federal government budget for the current fiscal year was a long-range allocation of several billion dollars to be earmarked for provincial infrastructural development projects. The property and casualty insurance industry’s recently formed Institute for Catastrophic Loss Reduction…

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The Face of REGULATION

February 1, 2000 David Carr

Technology, globalization, deregulation, consolidation and demutualization. These are the forces of change shifting the ground beneath the world’s financial services industry. Such change is drawing into question the effectiveness of regulators such as Canada’s Office of the Superintendent of Financial Institutions (OSFI) to remain relevant to its role, particularly in light of the new non-traditional players such as technology companies in financial services.

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Commercial Risk Under JIT

January 1, 2000 by Canadian Underwriter

The “just-in-time” (JIT) efficiency supply process has over recent years become more than just a popular fad among manufacturers, it has become an engraved business philosophy having produced significant operating savings to companies. However, when evaluating commercial coverages, insurers need to carefully weigh up all the risk factors associated with JIT.

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The Edge of Claims Handling

January 1, 2000 Axiom

As the company’s senior marketing representative, this occasion was a command performance for me. My company was unveiling its new and improved 24-hour claims service, which included a fleet of modern cell phone, fax and computer-equipped cars to take our…

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IBC proposes Disaster Reduction Plan

January 1, 2000 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is proposing the establishment of a Natural Disaster Reduction Plan, which would see all levels of government contribute a total of up to $750 million over five years to create a Natural Disaster Protection…

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Scrambling for loose business

December 1, 1999 Lowell Conn

Sports insurance is a specialty-lines oddity. It is unprofitable business marred by rising loss payouts not accurately balanced by the premiums generated. It is a competitive market where premium prices should be two or three times their current rate, insiders…