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Rescued by Spread of Risk Rescued by Spread of Risk Image

Risk

Rescued by Spread of Risk

At a time when chrome bumpers and flimsy seatbelts characterized cars, which lacked safety features such as air bags, it was the crash test dummy that taught auto safety repercussions 101. The lesson of the "Fatal Seven-Tenths" - what happens immediately before a car moving 55 miles/hour slams into a tree - resulted. Today, modern technology strives to control the potential risk of serious injury or death from auto accidents. However, are they able to stay at the head of their class and predict the answers of auto accidents?

By Frank H. Cain, Michael Palermo & Associates Insurance Ltd. | July 31, 2005

7 min read

Solvency Matters Solvency Matters Image

Risk

Solvency Matters

Failures extend far beyond loosing face - in the U.S. failure has served insurers a bill of US$8 billion, a "tab" accumulated over the past three years. A record number of Canadian insurers were also vulnerable over this period. Although strengthening capital and loss reserves are addressing solvency concerns, the risk of insolvency remains elevated. In response industry guarantee funds (like PACICC) are working to improve financial and operational preparedness.

By Darrell Leadbetter, Paul Kovacs and Jim Harries PACICC | July 31, 2005

5 min read

Cutting CAT Costs Cutting CAT Costs Image

Claims

Cutting CAT Costs

Once again, the 2005 storm season is showing signs of unremitting squally skies - a daunting reality considering the insurance industry just recently dealt with catastrophes (CATs) including, BC forest fires, flooding in Edmonton and Peterborough and Hurricane Juan, to name but a few. While insurers have been doing a very good job of planning ahead for such catastrophes often, their plans do not include their service providers who are meant to mobilize in response to a CAT. This oversight may result in greater costs incurred.

By Kyle Urech of Disaster Kleenup Canada | July 31, 2005

6 min read

The Absence of Alternatives? Fallback Image Decorative pattern

Risk

The Absence of Alternatives?

The wrath of the hard insurance market in Canada did not cause a “big bang” in alternative risk transfer (ART); it evoked a “whimper” of tire-kicking over non-traditional solutions. Yes, there were companies that increased self-insurance retentions, reviewed limits and even participated in “cell” captives or “rent a captives,” but the anticipated flurry of activity […]

By Steve Wilson, Senior Publisher | July 31, 2005

3 min read