Protecting Value: An Enterprise-Wide Approach
August 1, 2002 Perry Brazeau, senior vice president of FM Global's Canadian divIn today’s climate of limited cover availability, increased costs and greater consequences on business returns, financial executives and risk managers must now find new solutions to help minimize their companies’ risk exposure. This is especially true in light of new research, which has found that contingency planning – once the realm of risk managers – has now reached the highest levels of the corporate boardroom.
East-coasters call for government resolve on insurance pricing
July 26, 2002 by Canadian UnderwriterA market research study just released by the Insurance Bureau of Canada (IBC) of the Atlantic provinces suggests that the majority of personal auto insurance buyers believe that the provincial governments have a responsibility to deal with premium rate hikes.…
IBC implores New Brunswick government to take auto action
July 1, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is urging the New Brunswick provincial government to introduce auto product reform as lack of standard insurance within the province reaches a critical stage. The IBC has provided a new submission to the provincial…
Facility Association asks for “equal treatment” in New Brunswick
July 1, 2002 by Canadian UnderwriterIn it submission to the New Brunswick select committee on auto insurance, the Facility Association is asking that it be subject to the same “file and use” rate system as the rest of the industry. Although 1997 legislation in New…
Rates Keep on Trucking
July 1, 2002 Craig HarrisTrucking companies, taxi operators and large private fleets are feeling the squeeze of the hard market, with shrinking capacity, increasing rates and restrictive terms and conditions. And, feedback from insurers suggests that there is little relief on the horizon.
MPI calls for provincial rate freeze
July 1, 2002 by Canadian UnderwriterManitoba’s public insurer is asking the province’s Public Utilities Board to “hold the line” on basic auto rates for next year, despite posting a net loss of $16.5 million last year. For the fifth year, Manitoba Public Insurance (MPI) wants…
Aiming for claims control
July 1, 2002 Vikki SpencerAs insurers, auto manufacturers and other claims supply chain representatives met for the annual AIM Forum in Toronto recently, cost control and injury reduction took the front seat. From the aftermarket parts debate to personal injury claims inflation, speakers noted that insurers and auto makers must find ways to protect against fraud and keep drivers safer, while still keeping a lid on expenses.
Facility wants consistent rate filing in New Brunswick
June 13, 2002 by Canadian UnderwriterIn it submission to the New Brunswick select committee on auto insurance, the Facility Association is asking that it be subject to the same “file and use” rate system as the rest of the industry. Although 1997 legislation in New…
IBC calls on select committee to reform auto insurance in New Brunswick
June 13, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is urging the provincial government to make changes to auto insurance in New Brunswick. In its submission to the Select Committee on Private Passenger Automobile Insurance in Fredericton, IBC has provided various models for…
MPI wants no increase in auto rates despite net loss
June 12, 2002 by Canadian UnderwriterManitoba’s public insurer is asking the province’s Public Utilities Board to “hold the line” on basic auto rates for next year, despite posting a net loss of $16.5 million last year. For the fifth year, Manitoba Public Insurance (MPI) wants…
Auto costs still higher in Atlantic Canada: Insurance industry financial results
June 4, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has released its most recent auto insurance financial results figures for 2000 and 2001 in the Atlantic Region confirming the continuation of losses being incurred on automobile insurance. “Costs are still on the rise…
Facility Association sees marketshare rise
June 1, 2002 by Canadian UnderwriterDespite several years of depopulation, the Facility Association (FA) saw a modest increase in marketshare across the board in 2001. According to preliminary data released at its recent AGM, the “insurer of last resort” for high-risk drivers saw written premiums…