The Risk of Terror: Attack on America: Impact on Aviation Covers
October 1, 2001 by Canadian UnderwriterWhile the impact that the terrorist attacks will have on the international insurance and reinsurance industry will not be fully known for many years, the effect on aviation covers was almost instantaneous.
News – 01-OCT-01
October 1, 2001 by Canadian Underwriter58www.canadianunderwriter.ca CANADIAN UNDERWRITER / OCTOBER 2001
Technology Strategies: CRM & Claims Management
October 1, 2001 Gordon Dunn, vice president of business development at The InnovRecently published results would tend to suggest that the Canadian property and casualty insurance industry is continuing a long run of poor underwriting results. Indeed, it has been many years since the industry as a whole could boast about an underwriting profit. Most carriers continue to run combines loss ratios well in excess of 100%. With one or two exceptions, even best of breed carriers are running at just under 100%. It is therefore no wonder that the industry has struggled to attract new capital over the last few years.
When is business, “Business”?
October 1, 2001 Sean van Zyl, EditorThe tragic and unexpected events which unfolded on September 11 of this year when terrorists attacked the World Trade Center, New York City, and the Pentagon in Washington D.C. by using four hijacked jetliners as “flying bombs” has left the…
IBC questions financial affairs of ICBC (October 01, 2001)
October 1, 2001 by Canadian UnderwriterFollowing disclosure by Insurance Corporation of British Columbia (ICBC) chair Nick Geer of an expected $150 million loss for the current financial year, the Insurance Bureau of Canada (IBC) has called on the B.C. provincial government to conduct an independent…
Several insurers/reinsurers reveal WTC loss estimates
September 13, 2001 by Canadian UnderwriterA number of global insurers and reinsurers have released early loss estimates totaling more than US$4 billion relating to the tragic devastation of New York City’s World Trade Center (WTC) as a result of terrorist attacks carried out this past…
St. Paul gains top surety ranking in Canada
September 1, 2001 by Canadian UnderwriterU.S., Minnesota- based specialty risk insurer St. Paul Companies has acquired London Guarantee Insurance Co. from Canadian-based Great West Lifeco. Inc. for $125 million. The deal has boosted St. Paul to lead-ranking underwriter of surety business in Canada. The deal…
St. Paul acquisition of London Guarantee secures Canadian positioning
August 3, 2001 by Canadian UnderwriterMinnesota-based The St. Paul Companies (NYSE: SPC) has purchased specialty liability underwriter London Guarantee Insurance Co. from the Great West Lifeco Inc. (TSE: GWO) for about $125 million.London Guarantee is ranked second as market leader in underwriting surety business and…
Winterthur Canadian head moves to Kingsway
August 2, 2001 by Canadian UnderwriterKingsway Financial Services Inc. announces that Frank Amodeo, former head of Winterthur International’s Canadian office, has joined the specialty auto insurer as its vice president.Amodeo was vice president and manager of multi-national operations for Winterthur’s Canadian branch, located in Toronto.…
Managing Global Risks: Running for Cover
August 1, 2001 Vikki SpencerAn earthquake in Peru. The fall of the argentinean economy. tropical storm allison strikes several american states. Political tensions flare in the middle east. for the average canadian, these events seem a world away, having little impact on day-to-day life. But, for the average canadian company, these events can have a profound effect on the bottom-line. With the growth of canadian exports and domestic companies stretching their wings to establish operations beyond the border, managing these new international risks is a minefield of potential losses. and, with insurance rates hardening on a global scale and few companies willing to offer bundled international coverage, today’s corporate risk managers could find themselves scrambling for cover.
Coming Events (August 01, 2001)
August 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 Risk & Insurance…
Reinsurance Trends: Steady as It Goes
July 1, 2001 Vikki SpencerCanadian Underwriter Magazine recently asked Tom Hopkinson, the CEO of Guy Carpenter’s Canadian operations, to share his observations on the trends that affected treaty reinsurance year-end renewals, and his expectations for the upcoming season’s negotiations. According to Hopkinson, while reinsurance…