Industry
Canadian property and casualty commercial writers and reinsurers are still in a soft market phase, according to the MSA/Baron Outlook Report for 2010 Q4. “Commercial writers and reinsurers continued (and still continue) to compete in a mushy market,” the report notes. The report publishes data showing Canadian commercial insurers had a combined ratio (COR) of […]
By Canadian Underwriter | May 3, 2011
2 min read
The Risk and Insurance Management Society (RIMS) has defined a growing discipline within risk management – Strategic Risk Management (SRM).SRM is “a business discipline that drives deliberation and action regarding uncertainties and untapped opportunities that affect an organization’s strategy and strategy execution,” according to RIMS, which issued its definition on May 3 at its 2011 […]
Catastrophe losses in the first quarter, combined with a revised catastrophe model, are adding upward pressure to the soft property insurance market, according to Willis Group Holdings. Rates for North American catastrophe-exposed property risks are expected to increase up to 5% during the second quarter, according to Willis’ 2011 Marketplace Realities and Risk Management Solutions […]
1 min read
Canadian risk managers Glen Frederick and Janice McGraw were honoured for their work at the Risk and Insurance Management Society (RIMS) 2011 Annual Conference & Exhibition held in Vancouver on May 1-5.RIMS presented Frederick with the Harry and Dorothy Goodell Award, which recognizes an individual who has furthered the goals of the society and the […]
Through persistent vigilance, terrorism risk in the countries of the Western alliance will continue to be effectively controlled, according to the catastrophe modeler RMS, commenting after the death of Osama bin Laden in a U.S. helicopter raid on a compound in Pakistan. One of the FBI’s 10 most-wanted fugitives, bin Laden is founder of al […]
By Canadian Underwriter | May 2, 2011
Insured property losses from the April 2011 outbreak of tornadoes in the southern United States are expected to be in the range of between $2 billion and $5 billion, according to Eqecat. Initial reports show the upwards of 10,000 buildings destroyed, the cat modeler reports. More than 350 reported tornado landfalls occurred between Apr. 17 […]
Two Canadian risk managers, Douglas Barlow and Donald Barrett, are among five inaugural inductees to the newly formed Risk Management Hall of Fame (RMHF). The RMHF was organized to maintain the history and tradition of the field of risk management, and will serve as a means to recognize and honor those professionals who have made […]
Regulation CCIR seeks comments on proposed best practices for regulatory surveys The Canadian Council of Insurance Regulators (CCIR) is seeking comment from the insurance industry on its issues paper, Best Practices for Regulatory Surveys. The CCIR says the paper addresses the increasing use of regulator surveys, which is linked to an increasing emphasis on a […]
April 30, 2011
5 min read
Kelli Kryzanowski has helped out in many times of crisis - 9-11, the 2004 Indian Ocean Tsunami - so preparing for seismic activity in B.C. is a natural fit for this emergency manager.
By David Gambrill, editor | April 30, 2011
The IBAO reflects on some early trends arising out of Ontario's auto insurance reforms, including a disparity of take-up rates between rural and urban policyholders on optional accident benefits and the need to close the door on opportunities for fraud.
By Paul Taylor, director of operations, Insurance Brokers Association of Ontario (IBAO) | April 30, 2011
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