Insurers not immune to risk management
April 1, 2001 by Canadian UnderwriterInsurers may deal in risk, but they may not be taking “enterprise risk management” to heart in their own companies, and it is a situation that will have to change soon. Neil Parkinson, partner at KPMG LLP, told guests at…
DEVELOPING A PROFESSION
April 1, 2001 Vikki SpencerAt the recent Ontario Risk Management and Insurance Society (ORIMS) professional development day, a host of speakers expressed the need for expanding the knowledge and influence of risk managers in the corporate structure. With new approaches to risk financing and…
Hub raises U.S. stake
March 1, 2001 by Canadian UnderwriterBroker network consolidator Hub International Ltd. (TSE: HBG) has acquired a major U.S. brokerage, Kaye Group Inc. (Nasdaq: KAYE), for about US$118.6 million. The deal is subject to regulatory approval and the consent of KAYE shareholders, who will receive the…
Accountability
March 1, 2001 Sean van Zyl, EditorAsk any one of two million grumbling Californians who were recently suject to power blackouts as to why they are not currently overly fond of their local politicians and civil servants, and you will find that the list of complaints…
TPAs Looking for Value
January 1, 2001 Ed Doyle, general manager at Gallagher Bassett Canada Inc.In the past several years we have seen a movement in the Canadian property and casualty insurance industry toward the U.S. model of adjusting claims and handling claims management through third-party administrators (TPAs). In line with this trend, the days…
Measuring Hazards: Developing Loss Prevention Statistics
January 1, 2001 by Canadian UnderwriterThere are few industries in the world that can flow though an individual’s arteries like the business of insurance. The philosophies have been passed down for hundreds of years from generation to generation. But, as the world of risk transforms,…
Outsourcing finding efficiency
January 1, 2001 David CarrThe recent advancement of outsourcing within the property and casualty insurance industry – which today has seen the breadth of functions affected ranging across the various areas of the business compared with the past’s narrow application to the investment management…
REFLECTIONS and CHANGE
December 1, 2000 Sean van Zyl, EditorThe Canadian Risk & Insurance Management Society’s (CRIMS) 25th annual conference – which was recently held in Edmonton, Alberta – centered on “Reflections” as an underlying theme for the event. The Alberta chapter of CRIMS, which organized this year’s event,…
Managing assets and liabilities: Methodology vs. Mythology
November 1, 2000 Sean van Zyl, EditorLike druids, witches and warlocks of ancient folklore, financial risk evaluators such as actuaries are generally treated by management of financial institutions with a degree of awe and suspicion. The mathematical risk recipes presented by these modern day wizards may…
On The Move (October 01, 2000)
October 1, 2000 by Canadian UnderwriterThe Insurance Brokers Association of Canada has named Brendan Wycks as its new executive director, effective this month. Wycks has 17 years of management experience, including director of the executive office at the Institute of Chartered Accountants of Ontario for…
Coming Events (October 01, 2000)
October 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. Waterloo Region Insurance Professionals…
Alternative Risk Transfer: CAPTIVES GAIN GROUND
September 1, 2000 Sean van Zyl, EditorGrowth in the formation of captives for self-insurance and the facilitation of alternative risk transfer (ART) transactions is expected to rise by 5% per annum through to the end of 2005, according to rating agency A.M. Best Company. Specifically, the…