REINSURANCE BROKER VIEWS
September 1, 1999 by Canadian UnderwriterDonald Alexander, senior vice president of Guy Carpenter & Company Ltd. (Canada). My instincts tell me that the reinsurance market is under-priced. Rating models strongly indicate that market prices are below what they should be. This is not surprising, given…
U.S. Reinsurance Market PRICING STABILIZES
September 1, 1999 Sean Mooney, senior vice president at Guy Carpenter & Company InFollowing a lengthy period of stagnation, pricing within the U.S. reinsurance market seems to have stabilized, with even some evidence in the market of rate increases. However, until the market’s excess capacity is depleted, buyers of reinsurance will continue to enjoy the benefits of highly competitive pricing.
“DO or DIE”, strategy message is to embrace the TECHNOLOGY FUTURE
September 1, 1999 Sean van Zyl, EditorWhether traditional players in the property and casualty insurance industry continue to hold the lion’s share of business will depend on their willingness to embrace consumer-driven technologies and boost productivity, delegates attending the recently held Strategy Institute conference were told. In particular, the pressure of higher consumer expectations coupled with increased competition from new players to insurance will be felt mostly in the personal lines arena, the speakers warn.
the drive for Safer Roads
September 1, 1999 Lowell ConnCanadian automobile insurers wrote a combined $9.3 billion in earned premiums in 1998 while incurring losses of $7.0 billion. This 77.45 loss ratio ranks second only to accident & sickness as the worst loss experience category among all property &…
that TECHNOLOGY THORN
September 1, 1999 Sean van Zyl, EditorWith the conference and seminar season once again shifting into full drive, the message remains consumerism. Nothing new — the insurance industry has become almost anaesthetized by the repeated urgency to address consumer expectations. However, the latest round of discussions…
RISK MANAGEMENT ‘DOWN UNDER’– a Canadian perspective
August 1, 1999 Lovel Vining, risk manager at Mayne Nickless Ltd. (Canada)Webster’s New Collegiate dictionary defines the word “risk” as being “the chance of loss or the perils to the subject matter of an insurance contract”. It also defines “management” as “the act or art of managing: control or direction.” Dictionaries,…
Canadian First-Quarter Weak
August 1, 1999 by Canadian UnderwriterBusiness conditions for the Canadian property and casualty insurance industry remained weak for the first quarter of this year, with auto and personal property showing increased loss ratios across Ontario and Atlantic Canada, says Paul Kovacs in the Insurance Bureau…
Managing web exposures
August 1, 1999 Marcus Snowden, partner at McCague, Wires, Peacock, Borlack & LlWith e-commerce widely predicted to explode into the mainstream world of business in coming years, the lure of “getting into the ‘net game” before it becomes too late is almost irresistible for most companies. In particular, the Internet is expected…
Queensway’s court coup
August 1, 1999 by Canadian UnderwriterAchange in senior executive positions at Toronto-based Queensway Financial Holdings Ltd. (TSE: QFH) has resulted in a shift in power from Canadian to U.S. management. A statement recently released by the company says James Petcoff and Mathew Petcoff will be…
Disaster Loss mitigation: Great Balls of Hail
August 1, 1999 Alan Pang, managing director at the Institute for Catastrophic LOver recent years the largest catastrophic loss payments of most insurers have resulted from prairie hailstorms. During the 1990s, there have been six major storms, each causing catastrophic losses in excess of $50 million. The National Hail Conference, recently held…
Letters (August 01, 1999)
August 1, 1999 by Canadian UnderwriterDear Editor, The [June 1999] issue was excellent from cover to cover. I like the Autovision being separate rather than inserted. The subject matters are very different and while I read it from cover to cover as well, I did…
could this year be THE BIG ONE?
August 1, 1999 Sean van Zyl, EditorAlan Greenspan only has to mention inflation and interest rates in the same breath to send the investments markets into spasm. His most recent economic brief, presented toward the end of July, knocked off close to 3% of the value…