RISK MANAGEMENT ‘DOWN UNDER’– a Canadian perspective
August 1, 1999 Lovel Vining, risk manager at Mayne Nickless Ltd. (Canada)Webster’s New Collegiate dictionary defines the word “risk” as being “the chance of loss or the perils to the subject matter of an insurance contract”. It also defines “management” as “the act or art of managing: control or direction.” Dictionaries,…
Regulating professional Virtue
August 1, 1999 by Canadian UnderwriterRecent years have seen the emergence of ethical issues relating to multi-disciplinary professional firms such as lawyers and accountants. Questions have been raised over the role such organizations play in providing global services to companies such as insurers while maintaining confidentiality of the information handled and thereby avoiding potential conflicts of interest. A recent legal case has drawn a clearer picture of this ethical debate.
Managing web exposures
August 1, 1999 Marcus Snowden, partner at McCague, Wires, Peacock, Borlack & LlWith e-commerce widely predicted to explode into the mainstream world of business in coming years, the lure of “getting into the ‘net game” before it becomes too late is almost irresistible for most companies. In particular, the Internet is expected…
CRIMS 99 Conference highlights
August 1, 1999 by Canadian UnderwriterMonday, September 20 Plenary session at 8:30am examining Swiss Air Flight 111 which crashed off the coast of Halifax, Nova Scotia. How did the government of Nova Scotia deal with this terrible tragedy and what lessons can be learned? Government…
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.…
Counting the PENNIES
July 1, 1999 Sean van Zyl, EditorThe numbers say it all. Canada’s property and casualty insurance industry suffered one of its worst year-on-year performances last year, posting a modest return on investment of 7.1% — nearly half of 1997’s rate of return. Heavy underwriting losses incurred…
ROAD SAFETY SWITCHES GEARS
July 1, 1999 Lowell ConnThe pendulum on road safety from an insurer perspective is swinging back from mechanical design of vehicles to a more holistic view of driving skills and adequacy of road infrastructure, delegates were told at the Insurance Information Centre of Canada’s…
99 Canadian Insurance Congress: Marching to new Drummers
July 1, 1999 Lowell Conn & Sean van ZylHeld against the backdrop of the nation’s capital, the 1999 Canadian Insurance Congress — seen as Canada’s premier reinsurer/primary company CEO forum — offered good news to insurers and risk managers on the treaty negotiation front. This year’s reinsurance rates,…
RIMS releases 99 Quality Scorecard
July 1, 1999 by Canadian UnderwriterThe New York-based Risk and Insurance Management Society (RIMS) released its second annual Quality Scorecard which polled 1,259 risk managers rating the service of brokers, carriers and third-party administrators (TPA). The overall performances were similar to that of last year,…
The right adjuster FOR THE JOB
July 1, 1999 Lowell ConnNational harmonization of the licensing and regulation of the adjusting profession has become a hot topic for regulators and the insurance industry in Canada. Alberta’s recent Insurance Act rewrite included a step-licensing structure as well as a provision for mandatory…
On The Move (July 01, 1999)
July 1, 1999 by Canadian UnderwriterEquisure Financial has made application to amend the name of its wholly owned chartered trust company to Equisure Trust Company from Evangeline Trust Company. Insurance Technology Advisors Ltd., a Canadian insurance marketplace consulting practice, announced that Domenic Maggio has joined…