Claims
Pafco Insurance has commenced writing business as a stand-alone company in Ontario and New Brunswick as of Tuesday. The brand used to fall under the Pembridge mantle, but Pembridge CEO Bob Tisdale explains the separate Pafco licenses are intended to offer consumers more choice, specifically in offering alternatives to those in the Facility Association, the […]
By Canadian Underwriter | August 3, 2004
1 min read
Industry
Chicago-based broker Hub International (TSX: HBG) saw improvement in its results coming from a variety of sources for the second quarter ending June 30, 2004 growth was experienced both organically and through acquisition, while both Canadian and U.S. operations performed well.Net earnings were up 15% for the second quarter of this year, to US$11.6 million […]
By Canadian Underwriter | August 2, 2004
2 min read
Following in the footsteps of parent Fairfax Financial Holding, Odyssey Re Holdings Corp. (NYSE: ORH) saw earnings drop as a result of a massive slide in realized gains in the second quarter ending June 30, 2004.Net income was down to US$59.1 million (US$0.92 per share) for the period compared to US$112.7 million (US$1.74 per share) […]
Results for Toronto-based E-L Financial Corp. (TSX: ELF) were much improved over 2003 for the first six months of 2004, largely on the back of gains in the general insurance segment. E-L is the parent of the Dominion of Canada General Insurance Co.For the first half of this year, E-L pulled in overall net income […]
Still reeling from the onslaught of asbestos lawsuits clogging up U.S. courts, insurers worldwide must be shaking their heads to learn of a new threat coming down the pipe - silica liability. While crystalline silica has been a known industrial hazard since the early 1900s, 2003 saw a wave of new lawsuits fueled by the same trial lawyers filing asbestos claims. As the number of silica deaths drops each year, why is the industry just now feeling the tremors of mass silica litigation?
By Vikki Spencer | July 31, 2004
10 min read
The past year has been one of turmoil for the nation's independent insurance brokers - overhauled auto insurance systems, commercial liability and homeowners' coverage availability concerns, a strong lobby effort by credit unions and the contemplation of cross-pillar mergers. As Keith Wilson takes over the presidency of the Insurance Brokers Association of Canada (IBAC), he says this year will be focused on sending out a clear, consistent message on these issues to insurers, legislators, and most importantly, the public.
7 min read
Risk
While the pricing, terms and availability of commercial liability coverage in the Canadian marketplace are easing as insurers have found the "right price" after two years of an intense hard market, taverns and other commercial entertainment hosts engaged in the selling of alcohol continue to suffer from tough insurance conditions. And, with recent legal decisions suggesting that the courts may be willing to broaden the scope of liability relating to alcohol abuse to include employers and even "social hosts", insurers are less than keen to increase their exposure to the vagaries of the tort system.
By Sean van Zyl, Editor | July 31, 2004
9 min read
Samuel Johnson once commented that if a man could say nothing against a character but what he can prove, history would not be written.
By William Blakeney | July 31, 2004
8 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
July 31, 2004
4 min read
Both Canadian-owned and foreign-owned branch property and casualty insurers can attest to the challenging local underwriting conditions of recent years – evidenced by the extreme volatility in the industry’s financial performance. While the industry as a whole appears to have crawled onto safer financial ground over the course of 2003 and this year, the surviving […]
By Sean van Zyl, Managing Editor | July 31, 2004
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