Risk
Financial executives at the world’s top companies believe supply chain risks pose the top threat to companies’ revenue, according to a FM Global study. At the same time, close to half of all respondents in the study said risks associated with globalization and outsourcing are only a low priority or concern for their organizations, potentially […]
By Canadian Underwriter | September 13, 2005
2 min read
RIMS Canada Council has announced "Next Steps in the Client-Broker Relationship," a keynote panel moderated by RIMS President Ellen Vinck, featuring Michael G. Cherkasky, President and CEO, Marsh; Joe Plumeri, Chairman and CEO, Willis; and Patrick G. Ryan, Executive Chairman, Aon Corporation. This panel discussion will take place on Monday, September 19, 2005, from 9:00-10:15 […]
By Canadian Underwriter | September 1, 2005
1 min read
Most expensive natural disaster to hit insurers
August 31, 2005
3 min read
The Certified Restoration Drycleaning Network (CRDN) will celebrate its first annual clothing drive this October. Posing a positive challenge to the insurance industry to dig deep into their closets, the drive will donate used women’s business attire to help economically disadvantaged women dress to prepare for interview success, acquire jobs and restore financial self-sufficiency. The […]
5 min read
The Ontario government recently implemented measures so that insurers must offer policies that allow good drivers to sever their records from bad drivers in the same household. Insurers traditionally look at all licensed drivers in the same household when setting a premium rate. As a result “clean” drivers had to pay higher rates if another […]
The Federal Motor Carrier Safety Administration recently issued new hours-of-service rules for commercial truck drivers to replace those that had been vacated by a U.S. Circuit Court of Appeals over a year ago; insurers claim these rules allow for too much time behind the wheel. Some of these old proposals are part of the new […]
Recently, even before Hurricane Katrina hit New Orleans, devastating the nation and causing near insurmountable damage, Allstate Corp. suggested a taxpayer backed catastrophe insurance pool might be the best bet for US consumers. Natural and manmade disasters from hurricanes, flooding, explosions and even terrorism are, as Katrina reiterates, inevitable. Yet it is apparent that the […]
Tumultuous talk about alternative risk financing vehicles from securitization to catastrophe bonds and captives has lead to one conclusion - reciprocal insurance exchanges present Canada with the most compelling case. Will the flurry of activity around reciprocals fade away as the market continues to soften or can organizations make the commitment to share their risks?
By Craig Harris | August 31, 2005
9 min read
After two years of positive results, insurers are at the proverbial fork in the road. Should prices be lowered to attract new business or should current underwriting standards and pricing be maintained? The last hard market cycle damaged not only the insurance industry's bottom line, but also its reputation. The industry at large must not follow this path again. A smoother trail must be sought.
By Rowan Saunders, president & CEO, Royal & SunAlliance | August 31, 2005
4 min read
This is a new era for Directors and Officers, as amendments to Bill 198 sweep in and reinvent D&O liability. As a result, the insurance market has new concerns: How will businesses conduct change to avoid liability in light of the legislation's demand for increased corporate governance standards? and how can a high caliber of Directors and Officers be maintained in the face of these new liabilities?
By Jay Cassidy, assistant vice president, Marsh Canada Ltd. | August 31, 2005
6 min read
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