Risk
Risk managers need to be positioned high enough in their organizations to effect enterprise-wide risk management (ERM) throughout the organizational structure, says a new position paper by the International Federation of Risk and Insurance Management Associations (IFRIMA).IFRIMA president Sue Meltzer, who also serves as assistant vice president of risk management for Sun Life Financial, says […]
By Canadian Underwriter | June 21, 2004
1 min read
The Facility Association (FA) is not prepared to withdraw from Newfoundland yet, but that option is still very much on the table, following a special meeting of member insurers Monday.FA CEO David Simpson says members are “mindful that Bill-30 has not been proclaimed yet” and have asked the organization to look more fully into the […]
2 min read
Industry
AXA Re Group and its subsidiaries have seen their “A-” (excellent) financial strength rating affirmed by A.M. Best, with a stable outlook. The rating agency cites AXA Re’s improved operating performance as a result of tighter underwriting, as well as continued restructuring to reduce expenses. The transfer of AXA Re’s U.S. operations to AXA S.A. […]
Anthony Clark International Insurance Brokers Ltd. has settled a previously disclosed lawsuit filed by James Bonfiglio claiming the company failed to honor a stock option agreement in October, 1998. In its 2003 yearend results, ACL reported a $515,000 judgement had been made against the company, but that it would appeal that judgement. The terms of […]
By Canadian Underwriter | June 20, 2004
Brokers should have more technology options coming their way for web-based interaction with insurers, but those systems need not be exclusive of the CSIO portal, attendees of the Toronto Applied Systems Client Network (TASCNet) conference heard recently.While Applied Systems is building interest in its online WARP system, the CSIO also took part in the two-day […]
Comments made the New Brunswick NDP leader Elizabeth Weir are off the mark, says the Insurance Bureau of Canada (IBC).Weir stated that insurance rate decreases in the province were amongst the lowest in the country, but the IBC says in fact when rate decreases currently filed by insurers are approved, N.B.’s rates will actually have […]
Claims
Just as the U.S. Treasury Dept. confirms it will extend the Terrorism Risk Insurance Act (TRIA) to the end of 2005 at least, a new study shows insurance buyers are increasing purchasing the coverage.On Friday, Treasury Secretary John Snow confirmed the “make available” portion of TRIA would be in place until the end of 2005, […]
The Alberta Workers Compensation Board (WCB) says premiums for 2005 should drop by 7.6% to $1.83 for every $100 of insurable earnings. This is down from $1.98 for 2004. In 2003, the WCB saw injury rates fall, with 1,000 fewer workers off-the-job due to injury compared to 2002. At the same time, average length of […]
By Canadian Underwriter | June 17, 2004
After two years of downward pressure on the financial strength of European reinsurers, the market is stabilizing, says rating agency A.M. Best. That said, ratings are unlikely to return to former high levels, the rater addsRatings are currently supported by strong results through the first quarter of 2004, which are expected to continue through the […]
The mega-mergers of St Pauls/Travelers and John Hancock/Manulife are a signal the industry should expect increased consolidation, say insurance executives and analysts.Two-thirds of those responding to the survey, which was taken as part of Standard & Poor’s annual insurance conference in New York this week, say consolidation will continue, while 71% say debt and equity […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
