Risk
Corporate board executives need to be active members of their companies' risk management committees in order to properly manage the business risks they face, a RIMS Canada panel heard in September. Companies should also consider hiring a risk manager, if they haven't done so already, because many risks are observable only by people who have witnessed the company's behaviors over a long period of time.
October 31, 2005
4 min read
Finite insurance the unfair target of regulators, panel says
By David Gambrill | October 31, 2005
Industry
Bank Act review and broker independence steal the show at IBAO's CEO panel discussion
6 min read
How can an independent director be better protected from management fraud that can't be discovered through diligence? D&O insurance appears to offer a reasonable degree of protection to the independent director. But the precise type of D&O insurance is of crucial importance - a Side A DIC policy, for example, may provide for broad severability, meaning that fraud on the part of management may not result in the coverage being rescinded against all insureds.
By David Price & Jordan S. Solway, Arch Insurance Group (Canada) | October 31, 2005
7 min read
One of the basic difficulties in determining whether there is a real problem with finite reinsurance is that there is no clear difference between it and normal reinsurance. U.S. regulators are concerned insurance companies will use finite insurance as a means to smooth earnings and thereby cover up financial problems. But one of the difficulties in determining whether there is a real problem with finite reinsurance is the fact that all types of insurance and reinsurance are also intended to smooth their earnings and reduce volatility.
By Brian Reeve, partner at Cassels Brock & Blackwell LLP | October 31, 2005
Over the next year, the Property and Casualty Insurance Compensation Corporation (PACICC) will conduct a comprehensive review of the coverage and benefits it provides to policyholders in the rare circumstances of a member insurer becoming insolvent. PACICC protection currently applies to about 94% of the premiums underwritten by private P&C insurers in Canada. Major lines […]
By Jim Harries, Paul Kovacs, and Darrell Leadbetter | October 31, 2005
Calgary 2006 Co-chairs: Marley Drainville and Joseph Restoule Calgary, the “Heart of the New West,” is a place in the foothills of Canada’s Rocky Mountains where visitors from across Canada come to discover a new world of exploration, experience and the thrilling sight of something new or old. In 2006, risk managers, brokers, insurers and […]
3 min read
The North American insurance industry currently faces a high-stakes, $40-billion to $60-billion question: Will the destructive winds of Katrina, Rita and Wilma blow the industry into the grip of an enduring hard market? Several ratings agencies note that thanks to a hard market in the early part of the new millennium, the fierce 2005 hurricane […]
By David Gambrill, Editor | October 31, 2005
Hurricane Wilma produces new flood of damage estimates
2 min read
The 11th Annual Crawford Adjusters Canada Charity Golf Tournament was once again a super success, raising over $10,000 for the Women in Insurance Cancer Crusade (WICC) through the Company’s charity, Crawford Cares. The event was filled with a group of spirited Crawford clients and employees who reveled under sunny skies at the Royal Ontario Golf […]
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