Risk
For a company to uphold its corporate brand requires more than just integrating a consistent look and feel into every communication – it means embracing the concept of “brand critical”. By definition, mission critical refers to those elements of an organization that are an absolute necessity for revenue generation. This also refers to the elements […]
By Sean Hutchison, Fort Nocs Networks | September 30, 2003
3 min read
Industry
Fairfax Financial Holdings Ltd. (TSX: FFH) has renewed efforts to acquire its own issued subordinate voting shares in a bid to boost shareholder value in the company’s listed equity. Fairfax says that, pending regulatory approval, it will purchase about one million subordinate voting shares that have been issued by the company from between September 22 […]
September 30, 2003
1 min read
Claims
Insured losses from forest fires that swept through British Columbia in August are expected to total at least $200 million, says the Insurance Bureau of Canada (IBC). But this figure should not increase significantly, says IBC Pacific Region government relations manager Dennis Prouse. Prouse says the rebuilding process is proceeding well, with work underway on […]
A new U.S. study suggests regulators should cut financially unstable insurers off at the pass, rather than trying to “rehabilitate” them. Commissioned by the U.S. Council of Insurance Agents and Brokers (CIAB) and prepared by Stewart Economics Inc., the study looks at the impact on policyholders of state regulatory practices with regards to solvency. The […]
Montreal-based Optimum General Inc. (TSX: OGI.A) was back in the black for the first half of this year, posting net income of $492,000 equal to 4 a share. The company’s net earnings show a vast improvement over the loss of $2 million, or 18c a share, reported for the first six months of 2002. The […]
In the current environment – where provincial auto insurance systems are being changed on a near-daily basis in response to political whim and consumer ire, commercial and personal lines coverage remains scarce while rates continue to climb – brokers could be forgiven for wearing negativity on their sleeves. In contrast, however, the atmosphere at this […]
By Vikki Spencer | September 30, 2003
4 min read
Rating agency A.M. Best has downgraded the status of Ontario-based Coachman Insurance Co. to “B (fair)” from “B+”, and placed a negative outlook on other subsidiaries of Saskatchewan General Insurance (SGI). Overall, the rating agency has affirmed the “A- (excellent)” financial strength rating of SGI Canada with a stable outlook. But, while subsidiaries SGI Canada […]
While the sharp rate increases introduced by insurers across nearly all lines of business in Atlantic Canada - with personal auto insurance having attracted the brunt of price hikes - are beginning to show positive signs of returned underwriting profitability for the region, the "public relations" cost incurred in the process may well prove that too much was done by the industry over too short a time. The political attention ignited by auto insurance pricing has presented a very real threat of government-run insurance systems being introduced in the region - the impact of which could be dire for insurers and brokers alike.
By Mike Brien, president of Macdonald Chisholm Insurance | September 30, 2003
5 min read
Home
Can depreciation be deducted from a business interruption claim as a saving? Depreciation is often a fat juicy figure that would gladden the heart of any adjuster or forensic accountant to deduct from a claim...but, should they?
By Richard Davidson, an insurance industry consultant | September 30, 2003
Lawyers’ Professional Indemnity Company (LAWPRO) announces Kim A. Carpenter-Gunn, partner with Waxman, Carpenter-Gunn, has been appointed chairman of the board. She has been a board member since 1995. Cunningham Lindsey Canada Ltd. has named Michael Lowthian as executive general adjuster of its Canadian Commercial Risk division in Toronto, ON. He brings over 35 years of […]
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