Canadian Underwriter


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The Risk of Terror: The Shadows of Disaster

October 1, 2001 Linden Rees, president of Insurers Security Services Inc.

The events of September 11th, 2001 not only stunned the majority of mankind through the sheer evil of the acts committed, but served as a clarion call to the U.S. business community of its exposure to the threat of economic terror.

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The Risk of Terror: Attack on America: Impact on Aviation Covers

October 1, 2001 by Canadian Underwriter

While 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.

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Government covers airline terrorism exposures

September 25, 2001 by Canadian Underwriter

The 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

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System Breakdown: shortage of “e-covers”

August 1, 2001 George Cooke and Anne MacKenzie of Dominion of Canada General In

One of the biggest challenges insurers face is dealing with the non-tangible and borderless world of e-commerce. Reinsurers have already imposed strict cover limitations, and insurers are finding it extremely difficult to offer their customers effective risk solutions. However, if the industry plans on retaining its customer base and growing it as the business environment increasingly moves toward e-commerce, then cyber risk solutions will have to be found.

Photography: Imagebank
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Insurance Pricing Boosts Captive Recovery

August 1, 2001 Andrew Rickard

In a press release issued in early May, the American Council of Insurance Agents and Brokers announced the results of their first quarter survey. It showed rates rising significantly, with close to 90% of responding brokers suggesting that rates for

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Alberta warns against unlicensed insurers

August 1, 2001 by Canadian Underwriter

Alberta’s insurance regulator has issued a public warning against operators said be selling insurance products within the province without a license. This move follows on legal action taken by Ontario’s financial services regulator last month against a company believed to

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Alberta Government Warns Public Against Unlicensed Insurers

July 6, 2001 by Canadian Underwriter

Earlier in the week, the Alberta government warned consumers about purchasing insurance from unlicensed insurers. According to an Insurance Bureau of Canada (IBC) news release issued about the warnings, injunctions have been obtained against Combined Services Ltd., Citadel General Surety

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UNLOCKING B.C.’S AUTO MARKET

May 1, 2001 Sean van Zyl, Editor

At the time of writing this article, less than two weeks remained before voters in British Columbia will be asked to choose a new provincial government. And, in the lead-up to B.C.’s provincial election set for May 16, polling results suggest that the current ruling New Democratic Party (NDP) will likely garner less than 20% of the popular vote, while the opposition Liberal Party seems to be favored by 80% of the province’s voters. As media reports in B.C. point out, it is not a case of whether the Liberals will win, but by how much. What does this have to do with the insurance industry? A change in government in B.C. this year – particularly with the Liberals in the driving seat – could herald the beginning of deregulation of the province’s $2.6 billion “basic auto” insurance marketplace which for the last 27 years has been legislatively protected and underwritten by the Insurance Corporation of British Columbia (ICBC).

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BIRTH OF THE CAT BOND

May 1, 2001 Andrew Rickard

THE FUTURE OF REINSUR ANCE FINANCING

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Defining the Cost of Risk

April 1, 2001 Vikki Spencer

The cost of risk in Canada rose in 1999, according to a survey from the Risk and Insurance Management Society. At the same time, administration costs for risk management departments fell, giving rise to the observation that risk managers are having to do more with less. And, with the hardening of the insurance market, already evident in the 1999 results, there promises to more pressure than ever on risk mangers to stretch their resources and find creative ways to finance risk.

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THE CYBER RISK: protecting non-property losses

April 1, 2001 Fred Shurbaji, underwriting manager of Chubb & Son's department

In a relatively short period in the historical record of mankind’s social development and exploration, technology advancements over recent decades have thrust us beyond what anyone three generations past could possibly have envisaged. But, with the rewards of advancement also comes risk, and similar to the charting of hidden reefs by early sea trade merchants, modern-day businesses need to identify and defend against their online technology risks – both tangible and non-tangible property.

Steve Kelly Sue Meltzer Keith Shakespeare
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DEVELOPING A PROFESSION

April 1, 2001 Vikki Spencer

At the recent Ontario Risk Management and Insurance Society (ORIMS) professional development day, a host of speakers expressed the need for expanding the knowledge and influence of risk managers in the corporate structure. With new approaches to risk financing and