Industry
The U.S. operation of Toronto-based international claims services firm Lindsey Morden Group Inc., Cunningham Lindsey U.S. Inc., has agreed to purchase RSKCo Services.RSKCo is a owned by CNA Financial Corp. subsidiary Continental Casualty Co. Through the signed agreement to acquire, Cunningham Lindsey U.S. will get the claims management and related business of RISKCo that is […]
By Canadian Underwriter | April 3, 2003
1 min read
Insurers and reinsurers are becoming increasingly at odds over who should shoulder the burden on asbestos claims, says a new report from rating agency Standard & Poor’s (S&P). “Asbestos Driving a Wedge Between Insurers and Reinsurers” predicts the fighting will intensify in the coming months.”Disputes between insurers and reinsurers appear to be intensifying,” says Steve […]
By Canadian Underwriter | April 2, 2003
In a new report “Asbestos: Too Hot to Handle for European Insurers?”, rating agency Fitch says asbestos reserving by European insurers will remain a drag on earnings for years to come. Fitch does not expect asbestos to cause solvency issues by and large, as insurers have some years to over which to fund the expected […]
2 min read
Sweeping changes unlike any ever seen in the history of the insurance industry are altering the competitive landscape. Insurers, brokers and agents alike feel their future survival may depend on wise choices made today – but they are faced with a bewildering tangle of regulatory reforms, new technologies, shifting business models, multiplying delivery channels, and […]
March 31, 2003
5 min read
Last December, the Financial Services Commission of Ontario (FSCO) laid seven charges against a Toronto-base paralegal for alleged improprieties in the settlement of an insurance claim. This was followed by the passage of Bill-198 and a subsequent first draft of regulations governing the conduct of paralegals in the auto claims process. This would seem to […]
By Vikki Spencer | March 31, 2003
10 min read
As independent and company adjusters joined together in Toronto for a recent CICMA/CIAA conference, auto claims issues were front and center. From the passage of Bill-198 in Ontario to auto theft, a common message came out of the discussions: the industry needs to share information if it has any hope of cracking down on fraud […]
Last year saw the highest number of U.S. property and casualty insurers go into liquidation or placed under regulatory supervision in the last three years, according to a report recently released by rating agency A.M. Best. Several rating agency and investment analyst reports indicate that the capital base of the U.S. insurance industry showed marked […]
By Sean van Zyl, Editor | March 31, 2003
4 min read
Royal & SunAlliance Insurance Co. of Canada has signed an agreement to underwrite travel insurance products available through the Expert Travel Financial Security (ETFS) group. A Royal & SunAlliance statement says the agreement will make it the “leading provider of travel insurance products for the ETFS portfolio”. The ETFS portfolio is currently valued at about […]
E-L Financial chair and president Henry N.R. Jackman is stepping down, to be replaced by his son, Duncan. Among his roles is as chair of the board of Dominion of Canada General Insurance Co. The Insurance Bureau of Canada’s new vice president is Robert John Kimball, past president of the Insurance Brokers Association of New […]
First-Line of Underwriting
7 min read
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