Risk
Recent years have seen the emergence of ethical issues relating to multi-disciplinary professional firms such as lawyers and accountants. Questions have been raised over the role such organizations play in providing global services to companies such as insurers while maintaining confidentiality of the information handled and thereby avoiding potential conflicts of interest. A recent legal case has drawn a clearer picture of this ethical debate.
July 31, 1999
4 min read
Industry
Alan Greenspan only has to mention inflation and interest rates in the same breath to send the investments markets into spasm. His most recent economic brief, presented toward the end of July, knocked off close to 3% of the value of the Dow Jones and the TSE-300 index in a single day. The capital markets […]
By Sean van Zyl, Editor | July 31, 1999
As insurance professionals, we sell not only security, but also knowledge. Our competitive advantage is often based on what we know and how well we can apply it. This means that individually, as brokers, and collectively as an industry, learning is the key to success. Traditionally, we’ve accumulated knowledge by taking courses, reading books and […]
By Jaellayna Palmer & Peter Smith of Learn2Be | July 31, 1999
3 min read
The insurance industry got off lightly from the July 16 fire at a downtown Toronto Bell Canada switching station in which phone service was cut off for 113,000 downtown homes and offices for nearly five hours. Initial estimates had the disruption caused at being over $1 billion in economic losses. This, however, was mainly attributed […]
1 min read
The Co-operators group has expanded into the Quebec market by acquiring a broker-based underwriter, L’Union Canadienne compagnie d’ assurances from Unindal Inc. The deal, which is subject to regulatory approval, will boost the group’s premium income by about $100 million (equal to 7% of The Co-operators group’s 1998 consolidated premium income). L’Union Canadienne ranks ninth […]
Webster’s New Collegiate dictionary defines the word “risk” as being “the chance of loss or the perils to the subject matter of an insurance contract”. It also defines “management” as “the act or art of managing: control or direction.” Dictionaries, like many communication tools, are in practice subject to local interpretation. It was therefore highly […]
By Lovel Vining, risk manager at Mayne Nickless Ltd. (Canada) | July 31, 1999
6 min read
With e-commerce widely predicted to explode into the mainstream world of business in coming years, the lure of “getting into the ‘net game” before it becomes too late is almost irresistible for most companies. In particular, the Internet is expected to play a critical future role in the selling and shaping of financial service products, […]
By Marcus Snowden, partner at McCague, Wires, Peacock, Borlack & Ll | July 31, 1999
5 min read
Over recent years the largest catastrophic loss payments of most insurers have resulted from prairie hailstorms. During the 1990s, there have been six major storms, each causing catastrophic losses in excess of $50 million. The National Hail Conference, recently held by the Institute for Catastrophic Loss Reduction in Red Deer, Alberta, focused on prevention actions. […]
By Alan Pang, managing director at the Institute for Catastrophic L | July 31, 1999
It is becoming increasingly clear the importance of the financial services sector on the global stage. The recent drive toward globalization of business — coupled with new information technology and the formation of geo-economic and political alliances — have allowed financial institutions to follow their clients around the globe. However, the growing importance of financial […]
By Glenn McGillivray, head of corporate communication at Swiss Rein | July 31, 1999
9 min read
The early 20th century was a revolutionary time for the fine art community, with “modern artists” such as Henri Matisse carrying forward the early exploration attempts of the impressionist painters in testing conventional “realist” theory. In many respects, the modern art movement lead by Matisse — dubbed “the fauvists” (the primitives) by shocked French critics […]
By Lowell Conn | July 31, 1999
10 min read
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