Industry
Despite improving financial results, A.M. Best has downgraded the financial strength ratings of Allianz Insurance Co. of Canada and subsidiary Trafalgar Insurance Company of Canada. Allianz dropped to “A-” (excellent) from “A”, while Trafalgar fell to “B+” (very good) from A. Each has also been assigned a negative outlook.The downgrade comes despite acknowledge improved results […]
By Canadian Underwriter | March 2, 2004
1 min read
Claims
Just as insurers work toward uniformity of data transmissions on the distribution end, they should also be asking risk modeling firms to work toward uniform data standards. So says EQECAT Inc. president Rick Clinton at the risk modeling company’s recent “Catastrophe Management Summit” in Florida.”It doesn’t make any sense for all of the modeling companies […]
2 min read
Thieves are targeting sedans, including older model vehicles, for parts, says a new report by the U.S. National Insurance Crime Bureau (NICB).The non-profit organization, which was established to fight vehicle theft and insurance fraud, looked at the most stolen vehicles in 2002. Two sedans, the 1989 Toyota Camry and the 1994 Honda Accord topped the […]
By Canadian Underwriter | March 1, 2004
The merger of Brouwer Claims Canada & Co. with McLarens Canada is a “natural step”, says Brouwer chairman and CEO Jacob Brouwer.The two adjusting firms have signed an agreement in principle to merge, creating a national firm with 75 locations.The two firms will be able to share their individual strengths, notes Brouwer. McLarens is focused […]
In response to the “Filmon Report” on last summer’s B.C. forest fires, the Insurance Bureau of Canada is calling for a national natural disaster protection fund to be established.The report, tabled Friday in B.C.’s legislature, makes a variety of recommendations aimed at avoiding the kind of destruction and other issues that resulted from the firestorms […]
Risk
At the end of 2003, two commercial insurance surveys came out suggesting the market turn risk managers had been praying for was on its way. First, the Risk and Insurance Management Society (RIMS) benchmark survey (inclusive of U.S. and Canadian commercial insurance buyers) indicated signs of softening rates in the property line, with some accounts […]
By Vikki Spencer | February 29, 2004
10 min read
As Nancy Chambers gears up for her term as president of the Risk and Insurance Management Society (RIMS), she knows risk managers are in the midst of a difficult insurance market and increasing expectations from the highest corporate levels. Chambers follows a long line of Canadian RIMS presidents and says she will build on the successes of the past to forge new channels of communication for risk managers and their partners.
6 min read
Suicide bombings in Baghdad continue to see a rising toll in deaths of “reconstruction” foreign workers and military personnel…Ongoing conflict between Palestinians and Israelis continues to produce reprisal acts of violence…A coup de tat in Haiti results in mass civil unrest…A previously unheard of terrorist organization in France plants bombs on the country’s major railway […]
By Sean van Zyl, Editor | February 29, 2004
8 min read
Sexual Abuse in the Church Under Scrutiny; Vicarious liability is the startling legal concept that someone can be held liable for a third party's injuries when they were not actively involved in the incident that caused the damages. Parties sued for vicarious liability are generally, but are not always in a supervisory position over the person who would ordinarily be personally responsible.
By William Blakeney | February 29, 2004
While many insurers have written food-processing risks with a lenient attitude - with an eye cast at the food processing industry's historically attractive underwriting result - warning lights are now beginning to blink, suggesting that litigation involving the entire food processing enterprise, both animal and human, may be the next big thing in long-tail product liability.
By Allison Murray | February 29, 2004
7 min read
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.
