Industry
Sorema N.A. recently celebrated the retirement of its Canadian chief agent Angus Ross (pictured, right) and the appointed of his successor, Francois Dagneau (left). Ross leaves the industry after more than 35 years, including 8 years with Sorema. Prior to becoming chief agent, Dagneau served as senior vice president for Sorema. Claude Smith has been […]
November 30, 2000
2 min read
Risk
Inadequate rates, worldwide catastrophic losses and consolidation in the primary market created dismal results for reinsurers in the past few years. But could there be a light on the horizon? CU's survey of Canadian reinsurance CEOs suggests change is in the wind, with rates set to rise this year and companies charting a course for profitability in the future.
By Vikki Spencer | November 30, 2000
18 min read
There is evidence to suggest that the traditional business planning cycle has been bent so far out of shape as to become irrelevant to property and casualty insurance. Faced with the "end of the cycle", insurers need to find a new barometer.
By Steve Hammond, leader of commercial underwriting practices at Ro | November 30, 2000
5 min read
A one-on-one interview with Franklin W. Nutter, President of the Reinsurance Association of America (RAA).
By Glenn McGillivray, head of corporate communication at Swiss Rein | November 30, 2000
7 min read
Claims
Last year was one of the worst years in the 1990s for natural catastrophes worldwide. There were two major earthquakes in Turkey and one in Taiwan, Columbia, Mexico and Greece, making 1999 the year most severely affected by earthquakes since 1976. The earthquakes in Turkey and Taiwan claimed the lives of over 20,000 people and resulted in economic losses of approximately US$ 26 billion.
By Donald Keefe, manager of engineering property and special risks | November 30, 2000
"All hands on deck" was the central message delivered at the recently held 80th annual Insurance Brokers Association of Ontario (IBAO) convention. Under the theme "Pulling Together", the province's independent brokers joined to discuss issues including education, e-commerce and the upcoming federal election. In the face of what one speaker called "blinding change", brokers must band together to ensure their voice is heard by regulators, insurers and consumers.
As Saskatchewan’s brokers joined for their annual conference recently, proposed changes to rate classifications by Saskatchewan Government Insurance (SGI) were the hot topic for discussion. Prior to the meeting, SGI announced plans to reclassify light commercial vehicles by removing the $15,000 damage cap, in essence removing the distinction between commercial and private vehicles. The Insurance […]
Looking into the crystal ball, Ted Belton sees a bright future for the Canadian property and casualty insurance industry – and a busy future for himself. Although officially retired from his post as director of research for RBC Underwriting Management Services this past summer, there is no stopping the man who has been a strong […]
6 min read
Not unlike the frustration and confusion expressed by the investment markets during the inconclusive and back-biting legal play that ended the race for of the U.S. presidential election, Canadian primary insurers have waited with baited breath from the middle of this year as the 2001 reinsurance treaty renewals approached. The cause of the market’s apprehension […]
By Sean van Zyl, Editor | November 30, 2000
4 min read
A controversy which has been simmering for several years now could boil over at any moment with the consequence being higher and more frequent court damage awards being made against insurers, predict senior partners of litigation defense firms. The issue at stake is attempts by insurers over recent years to “cap” external legal expenses and […]
8 min read
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