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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,

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Moments in Time (April 01, 2004)

April 1, 2004 by Canadian Underwriter

Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry’s history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.

News Insurance

Global forum shopping target of new group

March 29, 2004 by Canadian Underwriter

A group of U.S. businesses are joining together under the mantle of the Chamber of Commerce to fight against global forum shopping.The practice, whereby plaintiffs seek to find any possible link to allow a case to be tried in a

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Hazel Hit Toronto Hard

March 1, 2004 by Canadian Underwriter

Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry’s history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.

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Letters to the Editor (December 01, 2003)

December 1, 2003 by Canadian Underwriter

The recent debate regarding automobile insurance rates in Nova Scotia has overshadowed the significant and positive impact that the industry has had in dealing with the huge volume of Hurricane Juan related claims. We recently wrote to the Nova Scotia

Feature Mergers and Aqcuisitions

Atlantic Canada: A Political Roller-Coaster

October 1, 2003 Mike Brien, president of Macdonald Chisholm Insurance

While the sharp rate increases introduced by insurers across nearly all lines of business in Atlantic Canada – with personal auto insurance having attracted the brunt of price hikes – are beginning to show positive signs of returned underwriting profitability for the region, the “public relations” cost incurred in the process may well prove that too much was done by the industry over too short a time. The political attention ignited by auto insurance pricing has presented a very real threat of government-run insurance systems being introduced in the region – the impact of which could be dire for insurers and brokers alike.

A beach house in Kitty Hawk, NC, is knocked off its moorings by Hurricane Isabel
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Hurricanes Devastate Canadian and U.S. East Coast

October 1, 2003 by Canadian Underwriter

The east coasts of Canada and the U.S. both felt the lash of Mother Nature with hurricanes in the form of Isabel and Juan causing widespread damage over a short period of time. In Canada, Hurricane Juan slammed into Nova

News Insurance

Risk modeling supports Isabel loss estimate

September 23, 2003 by Canadian Underwriter

Risk modeling by Risk Management Solutions (RMS) supports the early loss estimate for Hurricane Isabel of up to US$1 billion for U.S. insurers. The Insurance Information Institute (III) said the total could reach that mark last Friday.RMS says wind-related claims

News Insurance

Sobig launches August into top spot for digital attacks

September 3, 2003 by Canadian Underwriter

The month of August has become the worst month on record for digital attacks, largely on the back of the Sobig malware attack. Sobig is now the most costly digital attack, leaping over the Klez and Love Bug viruses, and

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Aligning Sources & Exposures

September 1, 2003 Perry Brazeau Canada division manager at FM Global

From newspaper headlines to the corporate boardroom, risk management is becoming a high profile proposition. As companies react to stories of corporate scandals and multi-million-dollar lawsuits, how does this align with the long-term risks facing corporations daily. A recent study compared the views of risk managers and financial executives on the greatest threats to their corporations, as well as the best means of addressing these threats.

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Slow Burn

September 1, 2003 Glenn McGillivray

As this is being read, hundreds of wildfires are burning in the interior of British Columbia, and they could very well make Canadian insurance history.

News InsuranceMergers and Aqcuisitions

Louisiana insurers to pay US$22 million for Tropical Storm Bill

August 20, 2003 by Canadian Underwriter

The price tag for insurers in Louisiana as a result of Tropical Storm Bill is estimated at US$22 million, says the state’s Department of Insurance (LDOI).Insurance commissioner Robert Wooley says the latest figure includes claims under the federal flood insurance