DANGEROUS WATERS: A GUIDE TO INSURING GENERAL LIABILITY MUNICIPAL PROGRAMS
June 1, 2001 David Wade, an independent risk management consultantMention Walkerton, and the immediate thought that jumps to mind is “water contamination”. The tragic deaths that occurred in Walkerton, Ontario last year as a result of contaminated water supply are a stark reminder of the importance of risk management. A proper risk management program applied by the Walkerton authorities could have averted the tragedy that took place. As such, insurers looking to underwrite general liability insurance products for municipalities need to focus on the appropriate risk containment programs applied by these insureds.
Letters (May 01, 2001)
May 1, 2001 by Canadian UnderwriterDear Editor, I read with interest your article on e-insurance in the March edition of Canadian Underwriter. Canada Life is the majority owner of Kanetix, with remaining ownership held by its employees. The Kanetix website provides information on Canada Life’s…
IN THE EYE OF THE STORM
April 1, 2001 Glenn McGillivray, assistant vice president & head of corporateThe prospect of a growing tornado loss potential due to underlying increases in exposed insurable equity coupled with the historical frequency associated with tornadoes do not bode well for the insurance industry’s future.
DARWINISM: a new philosophy driving consolidation
April 1, 2001 Sean van Zyl, EditorIs big really better? Can companies operating in the new global order that would seem to be defining the rules of business governing the property and casualty insurance industry afford not to buy up or get out? These were pivotal issues debated by senior leaders of North American insurance companies at a “national leadership symposium” held in San Francisco and jointly sponsored by The Council of Insurance Agents and Brokers and investment banker Russell Miller Inc.
Driving Economics
April 1, 2001 Sean van Zyl, EditorThe business environment facing Canada’s property and casualty insurers over the year ahead is going to be tough, with the industry having closed the 2000 financial year with its first quarterly net loss since the 1970s and a dismal 6.2%…
THE CYBER RISK: protecting non-property losses
April 1, 2001 Fred Shurbaji, underwriting manager of Chubb & Son's departmentIn a relatively short period in the historical record of mankind’s social development and exploration, technology advancements over recent decades have thrust us beyond what anyone three generations past could possibly have envisaged. But, with the rewards of advancement also comes risk, and similar to the charting of hidden reefs by early sea trade merchants, modern-day businesses need to identify and defend against their online technology risks – both tangible and non-tangible property.
TENSIONS OF A TIGHTENING MARKET
March 1, 2001 AxiomOne look at his rapidly reddening face and I could tell that our vice president was not enjoying himself. Worse than that, he seemed ready to explode. As the senior broker representative in the center of the conference room continued…
E-INSURANCE: BREAKING DOWN REGULATORY BARRIERS
March 1, 2001 Sean van Zyl, EditorWith the recent approval of federal and provincial laws paving the way for the development of e-commerce, property and casualty insurance regulators in Canada face the tough decision of whether or not online buyers need the extent of “hand holding”…
XL buys Winterthur International
March 1, 2001 by Canadian UnderwriterBermuda-based XL Capital Ltd. has acquired global corporate risk specialist underwriter Winterthur International from the Credit Suisse Group for an undisclosed amount. Credit Suisse retains its holding in commercial insurer Winterthur Insurance which operates through The Citadel Assurance in Canada.…
Back-To-Basics on LOSS PREVENTION
March 1, 2001 Owen Kurin, loss prevention manager at The Citadel AssurancePreventing loss and detecting fraud – if the formula for achieving these two goals could be found, the insurance industry would be out of business. However, the knowledge insurers gain from experience can be used effectively to help clients reduce…
Queensway takes survival action
March 1, 2001 by Canadian UnderwriterSpecialty risk underwriter Queensway Financial Holdings Ltd. (TSE: QFH) has secured liquidation windup orders for its troubled U.S. subsidiaries Queensway Casualty Insurance Co. (QCIC) and International Indemnity Co. (IIC). Queensway recently disclosed a major financial loss primarily as a result…
Taking Shape: Insurers move online
February 1, 2001 Vikki SpencerThe potential of the Internet has been bandied about for the past several years and finally insurers seem to be taking heed of the message. In an effort to reduce escalating expense ratios, insurers are putting the Internet to work.…