Canada absorbs cat, U.S. takes steps
September 1, 1999 by Canadian UnderwriterFoods that hit New Brunswick and Nova Scotia the week of July 26 have formed one of the largest insured losses to hit Atlantic Canada this decade. Close to 900 claims have been submitted to date and insurers predict damages…
Coming Events (September 01, 1999)
September 1, 1999 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 Insurance Accountants Association:…
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.
under the SPOTLIGHT
September 1, 1999 William Blakeney, BA (Hons.) LL.B and Khalid Baksh, BA (Hons.) LOver the past decade sexual abuse claims in institutional environments have become one of the most troublesome areas of civil litigation. In particular, insurers underwriting risks involving many of Canada’s most respected not for profit, charitable and religious organizations are now find themselves confronted by catastrophic personal injury claims involving serious allegations from past decades.
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 &…
Corroon sells Ottawa business
September 1, 1999 by Canadian UnderwriterGlobal broker Willis Canada has divested its Ottawa area commercial accounts to regional broker Binks Insurance Brokers Ltd. in a move industry observers suggest could be a sign of things to come in the commercial brokerage sector. Terms of the…
Y2K: rollingthe dice
September 1, 1999 Sean van Zyl, EditorWith year 2000 reinsurance treaty negotiationscurrently in full swing, there is a desperate hope among the players that rates will return to moresensible levels. However, faced with increasedcompetition, both locally and globally, reinsurersanticipate a long road ahead before the soft…
Coming Events (August 01, 1999)
August 1, 1999 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 Insurance Accountants Association:…
Factory Mutuals Finalize Merger
August 1, 1999 Steven Zenofsky, public relations consultant at FM GlobalThere’s a new insurance company on the block with a 165-year history, following the recent merger of commercial/industrial property insurers Allendale Insurance, Arkwright, Protection Mutual Insurance and their affiliate Factory Mutual. The new company will market itself as FM Global.…
Thinking outside the Canvas
August 1, 1999 Lowell ConnThe early 20th century was a revolutionary time for the fine art community, with “modern artists” such as Henri Matisse carrying forward the early exploration attempts of the impressionist painters in testing conventional “realist” theory. In many respects, the modern…
Insurers offshore BOUND
August 1, 1999 Michael HlinkaSeveral months ago Northern Telecom shook the Canadian business community when it announced plans to relocate to the U.S., mainly due to the high personal income tax structures in Canada which make it difficult if not impossible to compete against…
U.S. debate predicts “E-Revolution” for insurance
August 1, 1999 by Canadian UnderwriterThe property and casualty insurance industry in North America will have to come to grips with the growth in e-commerce — in terms of client demands for cover as well as managing their own exposures to the Internet, a national…