The “Exclusion Monster”
July 1, 2004 Rob FinnieMost 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.
No stability in commercial insurance market: panel
June 8, 2004 by Canadian UnderwriterRisk 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…
Seven insurers face Hurricane Isabel class action suit
May 13, 2004 by Canadian UnderwriterA 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,…
Moments in Time (April 01, 2004)
April 1, 2004 by Canadian UnderwriterEach 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.
Global forum shopping target of new group
March 29, 2004 by Canadian UnderwriterA 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…
Hazel Hit Toronto Hard
March 1, 2004 by Canadian UnderwriterEach 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.
Letters to the Editor (December 01, 2003)
December 1, 2003 by Canadian UnderwriterThe 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…
Hurricanes Devastate Canadian and U.S. East Coast
October 1, 2003 by Canadian UnderwriterThe 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…
Atlantic Canada: A Political Roller-Coaster
October 1, 2003 Mike Brien, president of Macdonald Chisholm InsuranceWhile 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.
Risk modeling supports Isabel loss estimate
September 23, 2003 by Canadian UnderwriterRisk 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…
Sobig launches August into top spot for digital attacks
September 3, 2003 by Canadian UnderwriterThe 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…
Slow Burn
September 1, 2003 Glenn McGillivrayAs this is being read, hundreds of wildfires are burning in the interior of British Columbia, and they could very well make Canadian insurance history.