REFLECTIONS and CHANGE
December 1, 2000 Sean van Zyl, EditorThe Canadian Risk & Insurance Management Society’s (CRIMS) 25th annual conference – which was recently held in Edmonton, Alberta – centered on “Reflections” as an underlying theme for the event. The Alberta chapter of CRIMS, which organized this year’s event,…
Underwriting trends: Canada goes north, U.S. south.
November 1, 2000 Joel Baker, general manager of A.M. Best Co., CanadaAlthough the optimistic whisper of higher premium pricing echoes along the company corridors of both the Canadian and U.S. property and casualty insurance industries, the first half-year underwriting results from both countries hint at caution. While the Canadian industry benefited…
LEGISLATION CATCHES UP TO TECHNOLOGY
November 1, 2000 Brian Reeve, Partner at Cassels Brock & Blackwell LlpThe federal and provincial legislators across Canada are slowly moving toward a uniform approach to regulating the legality of e-commerce contracts. Legislation set to be passed in Ontario this year under Bill-88 is expected to solidify this drive, with the implications immense for insurers.
GROWTH SIGNS …But Real Earnings?
November 1, 2000 Sean van Zyl, EditorOn paper, the Canadian property and casualty insurance industry’s earnings performance for the first two quarters of this year would strongly suggest at a rebound in real growth. In fact, Canadian insurers came home for the first half of this…
D&O coverage rates hopelessly inadequate
November 1, 2000 by Canadian UnderwriterGiven the rise in litigation and claims severity under D&O (directors and officers) coverage, rates are woefully inadequate, a recent Toronto Insurance Conference seminar was told. Udo Nixdorf, senior vice president of Chubb Insurance Company of Canada, says trends in…
breaking ground for online brokers
November 1, 2000 Vikki SpencerWhen Scot Dalton sold Dalton & Associates brokerage to the Cowan Insurance Group, it was not to step out of the insurance game. On the contrary, Dalton was ready to lead Cowan into the e-commerce world, as the country’s first online, multi-quote brokerage. Now, after two years of planning and development, cowaninsure.com has hit the information superhighway, with long-term plans to stay ahead of the pack.
On The Move (November 01, 2000)
November 1, 2000 by Canadian UnderwriterJohn J. Hampton has been appointed executive director of the Risk and Insurance Management Society (RIMS). A former insurance and finance consultant, Hampton has also served as provost of The College of Insurance and SUNY Maritime College, as well as…
U.S. insurers take earnings beating
November 1, 2000 by Canadian UnderwriterThe U.S. property and casualty insurance industry recorded a 32.5% drop in net income to US$10 billion for the first half of 2000 compared with the US$14.9 billion made at the end of June last year. The significant decline is…
Insurer Strategies for 2001: balancing the BooksT
November 1, 2000 Sean van Zyl, EditorFollowing a grueling year of devastating performance across the various areas of business – weak rates, rising claim costs, higher expense ratios and volatile investment returns – Canada’s property and casualty insurers may have perhaps turned the corner for the…
Managing assets and liabilities: Methodology vs. Mythology
November 1, 2000 Sean van Zyl, EditorLike druids, witches and warlocks of ancient folklore, financial risk evaluators such as actuaries are generally treated by management of financial institutions with a degree of awe and suspicion. The mathematical risk recipes presented by these modern day wizards may…
Coming Events (October 01, 2000)
October 1, 2000 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. Waterloo Region Insurance Professionals…
Queensway boosted by operating recovery
October 1, 2000 by Canadian UnderwriterQueensway Financial Holdings (TSE: QFH) is making further strides in its effort to improve operating results, as the company”s second quarter financial reports show. Net income for the quarter ending June this year amounted to $1.7 million, up dramatically from…