Coming Events (January 01, 2002)
January 1, 2002 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. IIO Speakers Club Meeting.…
Cost of risk declines in 2000, but signs point to hardening
December 6, 2001 by Canadian UnderwriterThe cost of risk declined in 2000, according to a survey released by the Risk and Insurance Management Society (RIMS). The annual Benchmark Survey, conducted with Ernst & Young, asks more than 830 risk managers in the U.S. and Canada…
IAO to work with U.S.-based ISO on products
December 6, 2001 by Canadian UnderwriterMarkham-based Insurers’ Advisory Organization (IAO) is teaming up with the U.S. Insurance Services Office to create and sell products in both countries. IAO, which is part of the UAB Group, will market ISO forms, rules and loss costs to Canadian…
OSFI to focus on Sept. 11 risk spread
December 1, 2001 by Canadian UnderwriterThe ability displayed by the property and casualty insurance industry and other financial institutions in effectively dealing with the events of September 11 testifies to the value of effective risk management and planning, observes Nick Le Pan, head of the…
Mexico, Untapped Opportunities for Brokers
November 1, 2001 Peter Bassel, Toronto branch manager of Loyalist Insurance BrokeFor Canadian brokers, the prospects of developing their existing client relationships by maximizing on the dramatic growth in Canadian business and tourism to and within Mexico is immense. The trick lies in not being overwhelmed by the prospect of dealing with foreign business practices.
Reinsurance Strategies 2002: Bargain Days Over
November 1, 2001 Sean van Zyl, EditorPrior to the terrorist attacks of September 11, reinsurers operating in Canada were adamant that 2002 treaty renewals would have to reflect general rate adjustments in the order of 15% to 25%. Most companies were mindful, however, of the prevailing and excessive competition within the Canadian marketplace, and in this respect seemed more hopeful than resolved that the rate adjustments they hoped to seek for next year would be achieved. The post-September 11 reinsurance landscape has changed dramatically. Covers available at “less-than-cost” pricing have vanished to be replaced by a steely attitude to both the terms and pricing of coverage. Reinsurers partaking in CU’s annual “Reinsurance Strategy Outlook” offer little hope for cheap pricing as the global cost impact of the terrorist attacks begins to bite. The message is clear: “The bargain days are over”.
Coming Events (November 01, 2001)
November 1, 2001 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. Canadian Institute Conference: Regulatory…
Chlordane: a Gnawing Concern
November 1, 2001 William Blakeney of Blakeney Henneberry Baksh & MurphyFrom a risk management perspective, Chlordane is possibly the most pervasive environmental problem ever heard of. Yet, it is one that, like termite infestation which the chemical was created to combat, may well prove to be a festering “legal plague” for Canadian insurers.
2001 CIAA Conference: Perilous Times
November 1, 2001 Vikki SpencerAs the Canadian Insurance Accountants Association (CIAA) held its annual convention in Montreal in late September, the terrorist attacks just days prior that shook the U.S. and the insurance industry worldwide were heavy on the minds of many. The attacks cast a pall over an already troubled industry, everyone agrees, and put the industry’s financial woes front and center.
Correction (November 01, 2001)
November 1, 2001 by Canadian UnderwriterAn incorrect reference was made in CU’s August 2001 issue. Gerry Corrigal is past president of the Insurance Brokers of Manitoba (IBAM). IBAM’s new president is Cliff Cook, of Cook & Cook Insurance in Swan River, Manitoba. Ron Defieux of…
The Risk of Terror: Lessons From the Disaster
October 1, 2001 Vikki SpencerAs delegates at the 2001 Canadian Risk and Insurance Management Society (CRIMS) Conference learned of the tragic terrorist attacks carried out in the U.S. mid-way through the gathering, normal sessions were put aside and attention turned to the implications, both personal and professional, of these historic events. Amidst fears for co-workers possibly involved in the World Trade Center (WTC) crisis and a general outpouring of sympathy, risk managers tried to understand the disaster, and perhaps even take some lessons.
Portal Power, People Power
October 1, 2001 Vikki SpencerAs one of the “founding fathers” of the developing broker/company portal, incoming Insurance Brokers Association of Ontario (IBAO) president Danny Craig is confident the year ahead will be a time of massive, positive change for the industry. The association, he…