VICC approves deterrent
December 1, 1999 by Canadian UnderwriterIn a post NAEC media conference, VICC president Henning Norup says the organization has approved its first “after market” anti-theft deterrent system, where the device has been fitted to the vehicle other than the manufacturer. The Autowatch 329 Ti immobilizing…
North American initiative tackles CROSS-BORDER AUTO THEFT
December 1, 1999 Lowell ConnThe North American Export Committee (NAEC), formed to combat cross-border movement of stolen vehicles in North America, recently met in Jacksonville, Florida. Canadian and U.S. insurers, customs officials, law enforcement agencies such as the FBI, RCMP and port authorities, came together with auto manufacturers to deal with what is clearly becoming a growing thorn in the foot for the property and casualty insurance industry.
Identifying and Managing Risk
November 1, 1999 Jane Voll, director of policy and research, and Andrew Keppen, rThe Insurance Bureau of Canada (IBC) recently completed a survey in conjunction with management consultants Deloitte & Touche to identify what internal risk control procedures property and casualty insurers have or should be applying in evaluating strategic, operational and capital…
R. Lewis Dunn 1942-1999
November 1, 1999 by Canadian UnderwriterPeacefully, on October 19, 1999 Lewis Dunn, president and chief executive officer of CGU Group Canada Ltd., passed away surrounded by family. Beloved husband of Sandy, and father of son’s Chris, Greg (and wife Carolyn), daughter Carolyn and grandfather of…
The Future of Financial Services Regulation
October 1, 1999 Michael HlinkaLast June the federal government released its white paper on financial services regulation. While the gist of the paper was very much in favor of protecting the existing rights of members of the property and casualty insurance industry, contained within…
The mechanics of Ontario’s collision repair
October 1, 1999 by Canadian UnderwriterOntario’s collision repair industry is undergoing fundamental change — however, it is a change that spells good news for a besieged industry, insurers as well as a beleaguered consumer.
ICPB Anti-theft drive
October 1, 1999 by Canadian UnderwriterEngaged in a constant battle to improve costs associated with auto insur- ance, insurers are focusing much attention on reducing auto theft and alerting the insured public about the phenomenon. According to Bill Atchison, acting chief operating officer of the…
Money Laundering Legislation with BITE
October 1, 1999 Nikki McManus, a freelance writerCanada is big business — amounting to some $17 billion each year. And, although Canada’s money recycling black market is minor in global terms (which the U.N. estimates to be $1 trillion worldwide), there are weaknesses in the current financial…
LONDON calling
September 1, 1999 Glenn McGillivray, head of corporate communication at Swiss ReinSince reforms in the mid-1990s, more and more corporate capital is flowing into Lloyd’s of London — much of it from some of the world’s most noted reinsurers. Could this injection of new capital forge the rebirth of the world’s most unique insurance market?
the drive for Safer Roads
September 1, 1999 Lowell ConnCanadian automobile insurers wrote a combined $9.3 billion in earned premiums in 1998 while incurring losses of $7.0 billion. This 77.45 loss ratio ranks second only to accident & sickness as the worst loss experience category among all property &…
Disaster Loss mitigation: Great Balls of Hail
August 1, 1999 Alan Pang, managing director at the Institute for Catastrophic LOver recent years the largest catastrophic loss payments of most insurers have resulted from prairie hailstorms. During the 1990s, there have been six major storms, each causing catastrophic losses in excess of $50 million. The National Hail Conference, recently held…
Martin’s “Wait and See” strategy
July 1, 1999 by Canadian UnderwriterThe insurance industry is applauding the federal government’s just released white paper outlining the future of financial services competition in Canada. In line with insurer and broker demands, the government has blocked banks from retailing insurance through branches as well…