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What’s new: In brief (September 20, 2004)

September 20, 2004 by Canadian Underwriter

Window cleaners in the U.K. are up in arms over insurance rate hikes. The British Cleaning Council (BCC) says that a 50% or more hike in premiums for those who are even able to acquire coverage at all is putting

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Hurricanes may force reinsurers to readdress frequency issue

September 7, 2004 by Canadian Underwriter

While the relative severity of losses from the recent hurricanes Frances and Charley is well below that of Hurricane Andrew, their coming in the same season may cause reinsurers to give more credence to frequency in predictive models, notes a

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What’s new: In brief (September 06, 2004)

September 6, 2004 by Canadian Underwriter

The friends of Mike Yang are staging two events to raise funds for this industry veteran, who is recovering from a serious illness experienced last fall. Funds are needed to help Mike and his family modify their home and vehicle

Devastation caused by Hurricane Charley in Punta Gorda, FL.
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Hurricane Charley Devastates Florida, Carolinas

September 1, 2004 by Canadian Underwriter

The total insured loss from Hurricane Charley will likely top US$6.8 billion, says the U.S. Insurance Services Office (ISO), making it the second costliest hurricane to hit the U.S. behind Hurricane Andrew. The ISO says the category 4 hurricane, which

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III pegs Charley loss at US$7.4 billion

August 19, 2004 by Canadian Underwriter

With insured losses expected to reach US$7.4 billion, Hurricane Charley will likely be the second-most costly hurricane in U.S. history, says the Insurance Information Institute (III).With risk modelers casting estimates in the US$5-$10 billion range, the III says the total

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Hurricane Charley loss estimates rise

August 17, 2004 by Canadian Underwriter

Early insured loss estimates from Hurricane Charley, which made landfall in Florida over the weekend, now run as high as US$10 billion.Risk modeling firm AIR Worldwide says insured losses should range between US$6-$10 billion, while Risk Management Solutions has upped

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What’s new: In brief (August 04, 2004)

August 4, 2004 by Canadian Underwriter

Toronto-based Lindsey Morden has a new CEO who will also take on the top role at Cunningham Lindsey U.S.. Jan Christiansen was named to the position upon the resignation of Karen Murphy after four years. Christiansen was most recently CFO

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Cyber Wars

August 1, 2004 Barb Szychta

Part of being competitive in today’s business world means having a stake in the ever-expanding cyber universe. But as the virtual world grows, so do the potential sources of risk.

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What’s new: In brief (July 04, 2004)

July 4, 2004 by Canadian Underwriter

President George W. Bush has signed into law the reauthorization of the U.S. National Flood Insurance Program (NFIP). The program will now run through 2008, with insurers saying they can now ensure flood coverage is available and affordable by spreading

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The “Exclusion Monster”

July 1, 2004 Rob Finnie

Most people who work in insurance are also purchasers of insurance. We see insurance as something that has a value to us, providing protection for ourselves and our families. But, I would like to speak as a consumer about coverages and exclusions, and offer a few thoughts about how we can improve this industry’s image by giving consumers what they want.

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No stability in commercial insurance market: panel

June 8, 2004 by Canadian Underwriter

Risk managers and brokers have been shocked by the rapid return of soft market conditions, a panel of speakers told the World Insurance Forum in Bermuda yesterday.“We’re not seeing any sort of rate stability in the marketplace today,” admits Peter

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Seven insurers face Hurricane Isabel class action suit

May 13, 2004 by Canadian Underwriter

A class action complaint has been filed in a Baltimore, Maryland court against seven insurers over their handling of homeowners’ claims stemming from last fall’s Hurricane Isabel.The suit, filed by law firm Cohen, Milstein, Hausfeld & Toll, names seven plaintiffs,