What’s new: In brief (June 27, 2004)
June 27, 2004 by Canadian UnderwriterInsurance Corp. of B.C. has paid out $4.4 million in tax grants to communities, which the Crown corporation does in lieu of paying real property and business taxes. Thirty communities received grants of between $10,000 to $1 million. Those communities…
European reinsurers on stable footing: A.M. Best
June 17, 2004 by Canadian UnderwriterAfter two years of downward pressure on the financial strength of European reinsurers, the market is stabilizing, says rating agency A.M. Best. That said, ratings are unlikely to return to former high levels, the rater addsRatings are currently supported by…
BC Forest Fires: A Time of Need
January 1, 2004 Wendy HillierThe storm of wild fires that ripped through British Columbia was a watershed for the Canadian insurance industry – not only did it represent one of the most significant losses in history, but it was also a test of the industry’s ability to rise to the claims challenge.
On The Move (August 01, 2003)
August 1, 2003 by Canadian UnderwriterSCOR Group deputy COO Pierre-Denis Champvillard is taking early retirement. He served the company for 32 years. BELAIRdirect has promoted Janice Nickle to the position of regional claims manager – Ontario. She was formerly casualty claims manager – Ontario, bringing…
On The Move (June 01, 2003)
June 1, 2003 by Canadian UnderwriterThe Ontario School Boards’ Insurance Exchange has named Jim Sami as general manager and Attorney-in-Fact. He has over 20 years insurance experience, and began at the Safeco Claims School. Hub International shareholders have added a new independent director to the…
D&O results not expected to improve in 2003: A.M. Best
May 22, 2003 by Canadian UnderwriterInsurers writing directors’ & officers’ (D&O) coverage will not expect substantially improved underwriting results in that line, predicts a new report by A.M. Best. In “The Directors & Officers Market: A Crisis in Remediation”, the rating agency notes that deterioration…
On The Move (March 01, 2003)
March 1, 2003 by Canadian UnderwriterThe Centre for Study of Insurance Operations (CSIO) has named Marshall Lee as director, portal operations, to manage the delivery of portal services across Canada. Lee is formerly vice president of technology services with the Insurance Information Centre of Canada.…
Claims Technology: The Big Three
February 1, 2003 Darren Layton, president of X Interactive TechnologiesAs insurers struggle with diminishing returns and technology challenges, they can look to other industries for examples of the use of interactive technology to achieve efficiency. While “working together” on technology solutions may seem an unachievable panacea, industries as competitive as auto manufacturing have shown that collaborative success is possible.
Mold & Water Damage Claims: Avoiding the Headache
September 1, 2002 Alex Lozecki Sr., president of Environmental Solutions InternatiThe industry’s newest catalyst is a four-letter word: MOLD. Should we be alarmed about this sleeping monster? How is it affecting people’s health and that of their children? How did it get here, and why is it growing? Insurers are trying to come to grips with this new threat, at the same time facing claims for incidents that happened perhaps years earlier.
WTC Cleanup
May 1, 2002 Sean van Zyl, EditorTelevised media coverage of the September 11 terrorist attacks that took place in downtown Manhattan, New York City, left little doubt in the minds of those that watched this tragic event that the cost of recovery — although never replaceable in lost lives — would be great in terms of both direct expenditure as well as economic loss. However, a new cost evaluation report suggests that the rebuilding and cleanup cost associated with the World Trade Center (WTC) attacks may prove to be billions of dollars less than originally anticipated.
THE BIG CHILL
February 1, 2001 Sean van Zyl, EditorHOLDING STATE MONOPOLIES ACCOUNTABLE
Coming Events (November 01, 2000)
November 1, 2000 by Canadian UnderwriterAnnouncements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Ontario Risk and Insurance…