Risk
Finite insurance the unfair target of regulators, panel says
By David Gambrill | October 31, 2005
4 min read
How can an independent director be better protected from management fraud that can't be discovered through diligence? D&O insurance appears to offer a reasonable degree of protection to the independent director. But the precise type of D&O insurance is of crucial importance - a Side A DIC policy, for example, may provide for broad severability, meaning that fraud on the part of management may not result in the coverage being rescinded against all insureds.
By David Price & Jordan S. Solway, Arch Insurance Group (Canada) | October 31, 2005
7 min read
One of the basic difficulties in determining whether there is a real problem with finite reinsurance is that there is no clear difference between it and normal reinsurance. U.S. regulators are concerned insurance companies will use finite insurance as a means to smooth earnings and thereby cover up financial problems. But one of the difficulties in determining whether there is a real problem with finite reinsurance is the fact that all types of insurance and reinsurance are also intended to smooth their earnings and reduce volatility.
By Brian Reeve, partner at Cassels Brock & Blackwell LLP | October 31, 2005
6 min read
Over the next year, the Property and Casualty Insurance Compensation Corporation (PACICC) will conduct a comprehensive review of the coverage and benefits it provides to policyholders in the rare circumstances of a member insurer becoming insolvent. PACICC protection currently applies to about 94% of the premiums underwritten by private P&C insurers in Canada. Major lines […]
By Jim Harries, Paul Kovacs, and Darrell Leadbetter | October 31, 2005
Calgary 2006 Co-chairs: Marley Drainville and Joseph Restoule Calgary, the “Heart of the New West,” is a place in the foothills of Canada’s Rocky Mountains where visitors from across Canada come to discover a new world of exploration, experience and the thrilling sight of something new or old. In 2006, risk managers, brokers, insurers and […]
October 31, 2005
3 min read
Hurricane Wilma produces new flood of damage estimates
2 min read
The 11th Annual Crawford Adjusters Canada Charity Golf Tournament was once again a super success, raising over $10,000 for the Women in Insurance Cancer Crusade (WICC) through the Company’s charity, Crawford Cares. The event was filled with a group of spirited Crawford clients and employees who reveled under sunny skies at the Royal Ontario Golf […]
The U.S. p&c industry recorded an underwriting profit of US$13.2 billion during the first six months of 2005, according to A.M. Best Company. Robust operating results drove the industry’s surplus base upwards despite unrealized capital losses, increased shareholder dividends and other losses in surplus as insurers continued to benefit from the hard market. However, these […]
A pilot project using a digital display to notify drivers of their speed was recently launched in Alberta in order to test the impact of speed monitoring on motorists’ driving habits in highway construction zones.The Alberta Solicitor General and Public Security, Parks Canada, RCMP and Affiliated Computer Services partnered to test the use of speed […]
By Canadian Underwriter | October 26, 2005
1 min read
The recent rumblings about large companies possibly seeking bankruptcy protection should serve as a warning to the Large company insolvency that is sweeping the market may hurt smaller businesses and, according to global trade credit insurer Euler Hermes Canada, the protection of accounts receivable should be a major consideration to companies dealing in domestic and […]
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