Risk
Three years ago, risk managers were focused on how to promote their profession. Now, for better or worse, risk management is center stage. But, what will risk managers do with their newfound fame? At this year's RIMS Canada conference, risk managers "took the bull by the horns" and talked about how to make the most out of the intense pressure they are currently under, to finally advance the cause of enterprise risk management in their organizations.
By Vikki Spencer | October 31, 2003
6 min read
When two insurance policies appear to insure the same loss, how do you determine if there should be contribution and how is it to be shared? A review of current law, policies in effect, and specifically the Ontario Insurance Act provides some clarity.
By Paul Famula, Crawford Adjusters Canada | October 31, 2003
Industry
Rate freezes, rollbacks, premium refunds and government-run insurance. It seems that the language of auto insurance has changed so rapidly that insurers have been left dazed and disorientated in an unknown land. But, based on latest events, it would appear that the time for learning new languages is over. In the Editorial of the October […]
By Sean van Zyl, Editor | October 31, 2003
4 min read
Halifax-based Huestis Ritch, member of Canadian Litigation Counsel, has named Elissa Hoverd as an associate of the firm. She joined the Ontario Bar in 2001 and the Nova Scotia Bar earlier this year. Toronto-based Kingsway Financial Services has made several appointments, including naming John McGlynn as president and CEO of Kingsway General Insurance Co. He […]
October 31, 2003
1 min read
Home
An independent survey of Canadian drivers across the provinces suggests that 75% of the public believe that the provincial governments should impose limits on rate increases with an equal number of respondents believing that cover price increases should not exceed the annual inflation rate for those with clean driving records. The survey of 1,017 Canadians […]
2 min read
At the recent Insurance Bureau of Canada (IBC) "Regulatory Affairs Symposium", which was held in Toronto, the speakers were asked to provide their perspective on recommendations put forward by former regulators and industry members on a new system of market conduct regulation in Canada. A move in this direction would significantly reduce the current "red tape" overload on insurers.
By Lawrie Savage of Lawrie Savage & Associates Inc. | October 31, 2003
5 min read
In the wake of passage of Nova Scotia’s Bill-1 – which reforms the province’s auto insurance legislation – insurers are announcing they will cease writing new business in the province. Royal & SunAlliance Insurance Co. of Canada and the Dominion of Canada General Insurance Co. have led the way by saying that they will not […]
Auto repair shop attendees at the recently held Canadian Collision Industry Congress (CCIC) took aim at a panel of representatives from insurance companies in questioning the use of after-market parts in insured vehicle repairs. The attendees questioned the quality of after-market parts as well as delays to their production schedules caused by poor fitting/sizing and […]
Claims
The Canadian Insurance Adjusters’ Association celebrated its 50th anniversary at its annual convention in St. John’s, Newfoundland recently. Along with East Coast traditions, including the “screech in” ceremony, the event included a seminar on privacy legislation and a trade show. Honorary lifetime memberships were awarded to past presidents Marcel Lacoste and Ian Pepper, and FCIAA […]
Specialty risk insurer Kingsway Financial Services Inc. (TSX: KFS) saw net income for the third quarter of this year drop by 28% to $15.6 million compared with the $21.7 million reported for the same period in 2002. This equates to diluted earnings of 28 a share for the latest quarterly reporting period versus the 44 […]
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