Cutting CAT Costs
August 1, 2005 Kyle Urech of Disaster Kleenup CanadaOnce again, the 2005 storm season is showing signs of unremitting squally skies – a daunting reality considering the insurance industry just recently dealt with catastrophes (CATs) including, BC forest fires, flooding in Edmonton and Peterborough and Hurricane Juan, to name but a few. While insurers have been doing a very good job of planning ahead for such catastrophes often, their plans do not include their service providers who are meant to mobilize in response to a CAT. This oversight may result in greater costs incurred.
New regulations increase building and demolition cost and time
July 20, 2005 by Canadian UnderwriterThe cost and duration of construction and demolition projects in Ontario may be set to increase significantly as a result of new provincial asbestos regulations. These increases will tap into the pockets and schedules of building owners and operators but…
Building Legislation Poses Cost Implications
May 1, 2005 Kyle Urech of Disaster Kleenup CanadaA number of new provisions to the “Ontario Building Code” will come into effect from July this year. These amendments, under Bill-124, will affect builders (including restoration contractors), municipalities, building inspectors and citizens, and by extension, insurers. They will have…
What’s new: In brief (April 25, 2005)
April 25, 2005 by Canadian UnderwriterRestoration network Disaster Kleenup International (Canada) Ltd. has launched a software pilot program with Symbility Solutions Inc. The pilot is to determine the effectiveness of Symbility’s software in estimating property claims. The 60-day test begins on June 1. “By removing…
What’s new: In brief (April 07, 2005)
April 7, 2005 by Canadian UnderwriterA.M. Best has taken a positive view of GE Insurance Solutions capital restoration plan, affirming the company’s financial strength rating at “A”, and affirming the “a” issuer credit rating of Employers Reinsurance Corp. and GE Re. The rater did lower…
The Evolution of the Audit
April 1, 2005 Mike Laberge, president, Performance Imperative Inc.While traditionally audits have focused on the numbers, insurers are looking to understand the “why” and, more importantly, the “what to do about it” behind audits.
What’s new: In brief (March 03, 2005)
March 3, 2005 by Canadian UnderwriterA.M. Best has been granted “nationally recognized statistical rating organization” status by the U.S. Securities Exchange Commission (SEC). The status means Best ratings can be used to distinguish creditworthiness required under federal and state laws. A.M. Best is one of…
Preventing Mold Losses
March 1, 2005 Andreas Wagner, and Tom ParkRecent scientific and legal developments have started to push mold damage in buildings up on the agendas of many insurance companies.
Reinsurance Strategies 2005: Stability?
November 1, 2004 Sean van Zyl, EditorFaced with the alluring prospect of a second year of acceptable profitability, the tension within the offices of Canadian licensed reinsurers is easing – but not underwriting discipline, at least according to the senior management responses in CU’s annual “reinsurance strategic outlook” for 2005. While rates and terms for next year’s reinsurance treaty renewals will likely remain stable, at least for most classes of business, reinsurer CEOs remain wary of the mistakes of the past, and point to the volatility of global catastrophe losses over the past year as well as uncertainty regarding the long-term effectiveness of the provincial auto insurance reforms.
Restoring Broker Image
October 1, 2004 Sean van Zyl, EditorAfter two years of extremely difficult market conditions, independent brokers in Ontario are hopeful of a period of stability. However, the immediate future will not be a period of “easy sailing” as brokers tackle the delicate task of rebuilding consumer…
Mold Remediation Guidelines Released
September 1, 2004 by Canadian UnderwriterNew guidelines offered up by the DRC Trade Show Services for insurers, adjusters and contractors were recently released via a national road-show. DRC struck a committee of indoor environmental professionals, building science engineers and restoration contractors to address what was…
Mold remediation documentation guidelines released
August 11, 2004 by Canadian UnderwriterNew guidelines offered up by the DRC Trade Show Services for insurers, adjusters and contractors are being released via a national roadshow. DRC struck a committee of indoor environmental professionals, building science engineers and restoration contractors to address what was…