The Risk of Terror: Attack on America: Impact on Aviation Covers
October 1, 2001 by Canadian UnderwriterWhile the impact that the terrorist attacks will have on the international insurance and reinsurance industry will not be fully known for many years, the effect on aviation covers was almost instantaneous.
The Risk of Terror: Lessons From the Disaster
October 1, 2001 Vikki SpencerAs delegates at the 2001 Canadian Risk and Insurance Management Society (CRIMS) Conference learned of the tragic terrorist attacks carried out in the U.S. mid-way through the gathering, normal sessions were put aside and attention turned to the implications, both personal and professional, of these historic events. Amidst fears for co-workers possibly involved in the World Trade Center (WTC) crisis and a general outpouring of sympathy, risk managers tried to understand the disaster, and perhaps even take some lessons.
Government covers airline terrorism exposures
September 25, 2001 by Canadian UnderwriterThe federal government has stepped in to offer temporary insurance cover to airlines and airports for acts of war and terrorism. The 90-day coverage is a stop gap measure to allow the industry to work out new coverage agreements with…
MPI pays over $3 million for hail damage
August 23, 2001 by Canadian UnderwriterA hail storm that struck Winnipeg early this week is costing the province’s public insurer dearly, reports the Canadian Press. Manitoba Public Insurance says that it will be paying out more than $3 million in claims for vehicles damaged by…
Raising th Bottom-Line through subrogation efficiency
July 1, 2001 Michael Baumel, head of global subrogation at GE ERCThe area of subrogation is a necessary part of the claims process, one which is often overlooked or under-utilized by the primary insurer. A poor or effective claims management approach to subrogation can mean the difference of millions of dollars to the bottom-line. Faced with the current business climate, can insurers afford financial spillage?
New federal body to lead disaster strategy talks
June 26, 2001 by Canadian UnderwriterThe newly-created Office of Critical Infrastructure Protection and Emergency Preparedness (OCIPEP) will lead consultations about to begin on developing a national disaster mitigation strategy. National Defence Minister Art Eggleton says the talks will center around reducing the risk and impact…
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.
BUSINESS CONTINUITY: do you have a plan?
April 1, 2001 Karen Rutherford and Gerry Myer of the Crisis Tool GroupDo you need to show your employer that as a risk manager you are bringing value-added services to your organization? Do you need to create a sense that you are virtually indispensable? Would you like to know one process that will allow you to know more about your company than the CFO, CEO or anyone else? Ask any continuity planner and they will quickly tell you the answer – build your company’s recovery plan.
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…
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…
Accountability
March 1, 2001 Sean van Zyl, EditorAsk any one of two million grumbling Californians who were recently suject to power blackouts as to why they are not currently overly fond of their local politicians and civil servants, and you will find that the list of complaints…
Feds respond to disaster mitigation
March 1, 2001 by Canadian UnderwriterThe federal government has taken an important step forward toward natural disaster mitigation with the creation of a new disaster handling agency, the Office of Critical Infrastructure Protection and Emergency Preparedness (OCIPEP), says the Insurance Bureau’s president George Anderson. “This…