Modeling risk, or maybe not…
June 1, 1999 Sean van Zyl, EditorWith the rising trend of North American natural catastrophe losses, a great deal of attention is being turned to the development of computer simulated cat risk programs. Cat risk models are hardly a new technological advancement for the insurance industry,…
Mandatory mediation: Split decision?
June 1, 1999 Jonathan Schrieder, Milton J. Brown, Q.C. & Assoc., Barristers &When the Financial Services Commission of Ontario (FSCO) introduced mandatory mediation of statutory accident benefits disputes, insurance companies quietly rejoiced. Essentially, the new rules preclude plaintiffs from launching an action at law prior to mediating issues in dispute which fall…
Letters (June 01, 1999)
June 1, 1999 by Canadian UnderwriterDear Editor, You are to be complimented on an excellent feature article, in the April Underwriter, on the threat posed by the big banks. The Independent Life Insurance Brokers of Canada have many members who also hold a p&c license.…
The Safety Equation
June 1, 1999 Sean van Zyl, EditorRecent months have seen increased pressure being brought to bear by the private property and casualty insurance industry to deregulate the monopoly positions of provincial government insurers. Due to its sheer size and control of one of Canada’s largest consumer…
MINERS looking for global risk partners
April 1, 1999 Ken Fedosen and Eugene Iacob of Zurich Global EnergyDespite plummeting international commodity values — which over the last decade have made mining equities less than the darlings of stock markets — the Canadian mining industry is expanding at a healthy clip. It is estimated that 100 new mines…
Queensway hits investment snag
April 1, 1999 by Canadian UnderwriterTSE-listed Queensway Financial Holdings (QFH) posted a 59% drop in earnings a share to 52c for the financial year ended December 1998 compared with the previous year. The company’s directors attribute the earnings decline primarily as a result of a…
Jury out on mandatory mediation
April 1, 1999 Lowell ConnThe City of Toronto’s new mandatory mediation program could result in quicker and more efficient resolutions of insurance lawsuits, lawyer Paul Iacano told a packed conference room at a seminar at the recently held Claims ’99 Ontario Insurance Adjusters Association…
General Accident becomes CGU
April 1, 1999 by Canadian UnderwriterThis month, insurer General Accident will officially change its name to CGU Group Ltd. The Canadian operation will operate as CGU Insurance Company of Canada. According to head of corporate communications Diane Scott, the change harmonizes the Canadian name with…
the Davids and the Goliath
March 1, 1999 Shelley BoyesSince Saskatchewan’s decision to introduce public auto insurance in 1946, the advancement of government insurers across the provinces has been a sharp thorn in the side of Canada’s private property and casualty insurance industry. The “socialist disease” of government-run auto…
Skills in risk
March 1, 1999 Richard Saylor, a risk management consultant and former risk & iEvery end is a new beginning. This has never been truer than in today’s fast paced world where everyone and everything is constantly being reinvented. As I look at my career in the risk management field, I can see that…
Ontario auto falls again
March 1, 1999 by Canadian UnderwriterPrivate passenger auto insurance rates in Ontario decreased during the fourth quarter of 1998 according to the latest rate information published by the Financial Services Commission of Ontario (FSCO). This is the 10th successive quarterly decrease since 1996. Of the…
Risk Management: It’s a Buyer’s Market
March 1, 1999 Lowell Conn and Sean van ZylDespite deteriorating conditions in the property and casualty insurance market, insurers continue to slash already low premium rates. Market observers forecast this trend to continue for at least 24 months as insurers prioritize marketshare over revenue prosperity. Simply put, the…