Industry
Despite posting another record financial showing for the second quarter of 2002, specialty insurer Kingsway Financial’s (TSE: KFS) stock dropped sharply upon release of the company’s second quarter results. Net income for the latest reporting period rose by 42%, to $16.2 million from the $11.4 million reported for the quarter ending June 30, 2002. Earnings […]
August 31, 2002
2 min read
Risk
Allison Stade (pictured at center) is the winner of the 2001 Sovereign Award, presented to the top student from the University of Calgary’s Insurance and Risk degree program. Presenting the award on behalf of The Sovereign General Insurance Company is Ken Galka, Southern Alberta business development manager (at left), and Murray Goertzen, Alberta branch manager.
1 min read
Despite talk about reforming joint and several liability, the legal principle that some refer to as the "1 percent rule" still plagues deep pockets like governments - and their insurers.
By Craig Harris | August 31, 2002
7 min read
Devastating condominium fires, such as the most recent blaze at Calgary's Waterford complex, have created challenges for the construction industry and builders risk insurance market. Are the actions of insurers justified relative to loss experience, and how are insureds reacting to the tighter terms and pricing of cover?
By Brian Jones, president of Jones Brown Inc. | August 31, 2002
5 min read
Canadian property and casualty insurers produced a net profit for the second quarter of this year of $192 million, reflecting a 30% drop compared with the $275 million reported for the same period the year previous. Similarly, the industry’s net earnings for the first six months of this year fell by 20.5% to $300 million […]
3 min read
Paralegals and accident benefits claims are often a costly mix for insurers. A recent proposal to regulate this profession, including accreditation and minimum standards, is a step in the right direction.
By Cecil Jaipaul, president, Jaipaul Consulting | August 31, 2002
6 min read
The industry's newest catalyst is a four-letter word: MOLD. Should we be alarmed about this sleeping monster? How is it affecting people's health and that of their children? How did it get here, and why is it growing? Insurers are trying to come to grips with this new threat, at the same time facing claims for incidents that happened perhaps years earlier.
By Alex Lozecki Sr., president of Environmental Solutions Internati | August 31, 2002
As the grim anniversary of the September 11 terrorist attacks in New York City and the Pentagon approached, its reverberations were still being felt. Battles in the Middle East rage on, the world's economies continue to struggle and, in the realm of insurance, uncertainties linger. Chief among these is the lack of available terrorism coverage, specifically affecting aviation and commercial property lines. Despite hopes of a solution, a year after the tragedy that represents the largest loss in insurance history, the terrorism insurance market remains in disarray.
By Vikki Spencer | August 31, 2002
9 min read
Claims services company Lindsey Morden (TSE: LM) reported increased revenue and lower losses for the second quarter of 2002 compared with the same period last year. Revenue for the latest reporting period amounted to $110 million against the $106 million shown for the same period in 2001 – this represents a -year-on-year increase of 3%. […]
Commercial
In the May 2002 Statistical Issue, the incorrect logo was placed with 2001 statistics for London Guarantee. CU apologizes for any confusion the error may have caused.
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