SOLID AS A ROCK
July 1, 2002 Vikki SpencerIn an environment of claims cost cutting, increased litigation exposure and heightened competition from “inhouse resources”, the independent adjusting profession faces some tough leadership challenges. And, like “the rock” that he calls home, Arnold Pike believes that as the incoming president of the Canadian Independent Adjusters Association (CIAA), he is ready to guide members through this challenging time. The keys, he says, will be to work toward a “single voice” on issues, and while doing so, “to make some noise” about the value of independent adjusters within the insurance industry.
CEOs say hard market is here to stay
June 5, 2002 by Canadian UnderwriterAnyone living under the impression that the current hard market will be short-lived may have pause to reconsider, members of an industry panel tell delegates at the 12th Annual Canadian Insurance Congress this week. Panelists agree it will take prolonged…
Insight: Coverage Crisis: Raining on the Parade?
June 1, 2002 Craig HarrisEvents from air shows to street festivals to sporting venues have suffered the wrath of insurers in the form of sharp premium hikes, inflated liability limits and coverage restrictions. Is this a new insurance crisis or just evidence of the industry’s cycle at work?
Auto insurance among FSCO priorities
May 7, 2002 by Canadian UnderwriterWith the recent release of a discussion paper on its 2002 priorities, the Financial Services Commission of Ontario (FSCO) has put auto insurance on the agenda. But what exactly that auto reform will look like is still unclear.Although auto insurance…
Drug Mania and a Vortex of Losses
May 1, 2002 Suzanne WintrobFen-Phen. Baycol. Ponderal. Prepulsid. No, they’re not new video game characters or rock groups. Rather, they are among a growing list of medical drugs involved in class action lawsuits across North America.
McNaughton v. Co-operators could spawn class action landslide
March 8, 2002 by Canadian UnderwriterThe victory of one policyholder in a case involving auto insurance deductibles could give rise to large numbers of Canadians seeking similar action against insurers. A Supreme Court of Canada ruling yesterday denies Co-operators General the right to appeal a…
Court upholds $1 million punitive award against Pilot
March 1, 2002 by Canadian UnderwriterThe Supreme Court of Canada has restored a jury award of $1 million in punitive damages which had been made against Pilot Insurance Co. The cross-appealed Whiten v. Pilot case has been closely watched by insurers due to the magnitude…
Letters (March 01, 2002)
March 1, 2002 by Canadian UnderwriterDear Editor, I have just completed reading the December issue of Canadian Underwriter and enjoyed reading your coverage on the hard market and the issue of terrorism exclusions. The Insurance Bureau of Canada, the press and the regulator continue to…
Canadian Underwriter and canadianunderwriter.ca Launch Free Insurance News Alert Service
January 1, 2002 by Canadian UnderwriterWelcome to your first edition of Canadian Underwriter magazine and canadianunderwriter.ca’s new Email News Alert Service for the Insurance Industry, called “At Your Personal Request”. This FREE Breaking News Alert Service will keep the market informed of the latest Insurance…
ING and Zurich enter asset swap deal and alliance
December 1, 2001 by Canadian UnderwriterING Canada has acquired Zurich North America Canada’s personal lines book of business as well as its commercial business valued at less than $50 million through an integrated cash and “asset swap” deal. In total, ING acquired about $540 million…
The Art of Writing
November 1, 2001 by Canadian UnderwriterAs you budget for training to enhance your department in 2002, and wonder whether writing skills training is something you can “afford,” think of this letter. One poorly phrased letter can have a “domino effect” leading to misunderstandings, telephone-tag and wasted hours. Multiply this one letter by all your form letters and then by all your underwriters, and you see that writing skills is a priority that must be faced. In the words of novelist Joseph Conrad: “Facing it, always facing it, that’s the way to get through. Face it.”
Montreal broker first to go direct with Lloyd’s
October 12, 2001 by Canadian UnderwriterUnder a new Lloyd’s of London scheme to allow non-U.K. brokers to deal directly with the market’s underwriters, the first Canadian broker is now on board.Montreal-based B.F. Lorenzetti & Associates (BFL) will be the first in this country to deal…