Claims
The Ontario Court of Appeal's dramatic ruling in total loss salvage cases is no loss for the insurance industry. After a two round knock-out match the insurers were made champions, a win bolstered by support from their new found judiciary 'fans,' who offered unexpected support against policyholder 'opponents.'
By Chris Dunn Partner, Dutton Brock, LLP | June 30, 2005
4 min read
Industry
In the May 2005 issue of CU, the article "Staying on the Road" delved deep into the depths of the looming disaster facing car rental companies and their insurers and reinsurers. Liability was increasingly being placed on rental agencies and subsequent costs to their insurers showed little signs of receding - unless the Ontario court sided with the insurance industry in terms of where liability should rest. Today the tides are changing and, for the insurance industry, concerns are slowly drifting off to sea, a journey incited by recent decisions of the Court of Appeal to uphold the original judicial verdict in the case of Avis Rent A Car vx. Certas.
By William Blakeney of Blakeney Henneberry Murphy | June 30, 2005
Risk
Income trusts have recently experienced explosive growth as corporations seek to achieve stable cash flow and generate strong balance sheets. The key to successful trusts is in developing total comprehension of the risk profile these relatively new business structures present.
By Richard Cutfield, Managing Partner and National Practice Leader, Income Trusts, Jones Brown Inc. | June 30, 2005
5 min read
Important developments are pouring down, affecting the run-off abilities of insurance companies, not to mention the business books of reinsurers hoping to eliminate policy liabilities. Currently, under certain circumstances, the possibility of using a Solvent Scheme of Arrangement to transfer or eliminate policy liabilities is becoming a more visited option for Canadian companies.
By Brian Reeve, Partner, Cassels Brock & Blackwell, LLP | June 30, 2005
7 min read
Trust - a regularly mentioned, rarely explained and integral component of excellent sales and service strategies. Trust-based client relationships have a character all their own and brokers can develop this effective alliance by adopting a new approach to selling.
By Rick Bauman, President, Bauman Consulting Incorporated | June 30, 2005
The insurance industry is apt to invest in the training, supervision and management of staff, however even more time and money should be allocated to the development of a better workflow technique. Effective workflow will unquestionably elicit a more efficient employee network. The ultimate goal is always an increasingly productive team and yet, resistance persists - people are naturally suspicious of change and this trait is particularly visible in most business structures. However, the futility of resistance prevails as the insurance industry is continually working to create a more productive team, as the staff is the essential asset. So the question remains, are a company's technological tools any different? Does technology resist change? The answer - No, technology will do exactly what it is told.
By Chris Venn, President of Inventive Networks | June 30, 2005
6 min read
Even though this country faces serious catastrophic exposures, Canadians generally take a laissez-faire view of the threat of natural or man-made disasters. Yes, we had a major ice storm in Quebec and Ontario, but that was a meteorological fluke. Nuclear incidents? Well, maybe in Russia. Massive earthquakes? Sure – in Asia. Terrorist acts? That’s for […]
By Steve Wilson, Senior Publisher | June 30, 2005
3 min read
Despite record catastrophe losses, European reinsurers recently registered recorded improved profitability for 2004, according to the latest European Reinsurance Quarterly Report from Benfield. Results from six major European reinsurers exhibit earning results from non-catastrophe business held up so that overall losses were moderate, according to Benfield’s Industry Analysis and Research team spokesman Lewis Phillips. “The […]
June 30, 2005
2 min read
Home
Underwriters must develop loss prevention techniques to address businesses prone to coverage liability claims exposures arising out of discrimination, harassment and other employment practices issues, according to recent findings from the PLUS Employment and Fiduciary Issues Symposium. Panelists at the symposium suggested underwriters must begin to anticipate third-party exposures because the nature of employment practices […]
1 min read
A modest rise in inflation and firm economic growth will bolster the Federal Reserves interest rates resulting in a rise in federal funds, according to information from Swiss Reinsurance economists. Specifically, if the economy does remain strong and inflation continues on its rise, the yield on the 10-year Treasury note is projected to rise to […]
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