Risk
Plaintiffs’ attempts to impose personal liability on directors is becoming a trend, as are insurers’ attempts to rescind D&O coverage upon learning of fraudulently-reported financial statements, A.M. Best reports.In some recent U.S. corporate scandals, A.M. Best notes, “plaintiffs’ attorneys have targeted directors and have demanded, and obtained, personal contributions from the directors.”In January 2005, for […]
By Canadian Underwriter | July 4, 2006
2 min read
Industry
A new Canadian insurance conference, planned for the end of September 2007, will bring together CEOs and senior executives of the property and casualty insurance industry.The inaugural National Insurance Conference of Canada (NICC) will be held in Montreal from Sept. 30 to Oct. 2, 2007. MSA Research president Joel Baker is heading up the NICC. […]
1 min read
Alberta experienced one of the worst flood seasons on record in the summer of 2005 due to severe weather conditions, according to the Government of Alberta. These unprecedented conditions, which saw rainfall ranging from between 50 and 100 mm to more than 400 mm, influenced the province’s decision to create the Southern Alberta Disaster Recovery […]
June 30, 2006
Standard & Poor’s Ratings Services (S&P’s) is updating its risk-based capital model. S&P’s says it is currently testing newly developed capital factors against the latest capital model used in its analytics for a large number of companies globally. The outcome of this testing will inform fundamental changes S&P’s plans to make to its modeling of […]
Auto
The Insurance Brokers Association of Ontario (IBAO) has launched a new Web site, http://www.ibao.org, which provides information on insurance topics. Technically developed by AKA New Media Inc., the site is designed to be fresh, innovative and user-friendly. A new feature on IBAO’s homepage is the Industry News link found in the IBAO News and Events […]
Proportional treaties are declining, leaving Canada's reinsurance market looking like an excess loss market
By David Gambrill | June 30, 2006
12 min read
Claims
CIAA's incoming president, Miles Barber, is aiming for licensing consistency across Canada
6 min read
Reinsurers are noticing the impact of long-tail catastrophic auto injury claims on their excess of loss business.
By Craig Harris | June 30, 2006
9 min read
The insurance industry is not meeting risk managers' expectations
New models are putting the squeeze on the insurance industry to conserve and increase capital
5 min read
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