Risk
The continuing flux posed by a stubborn soft market presents a puzzle that by now, risk managers have "solved" by predicting appropriate purchasing practices. But, playing with puzzles is put to the test as risk managers pick up the pieces of an industry fragmented by scandal. The picture perfect result is Enterprise Risk Management, a tool for the times.
July 31, 2005
9 min read
Risk managers are embarking upon a new, evolved level of operation - one which necessitates insight, advice and answers from the various perspectives and visions of broker and insurer alike. In order to succeed in this new area of strategic, corporate risks, communication and a broadened scope of the corporate insurance world at large are key. "Perspective 2005" is designed to embrace the newfound approaches to risk management such as enterprise risk management, while maintaining an equilibrium by dealing with issues at hand and visiting tried and true issues such as claims and crisis control.
7 min read
Some countries, such as the U.S. and Australia, have made headway on reforming tort systems that many perceive to be unfair, costly and inefficient. Joint and several liability, compensatory damages, collateral sources and vicarious liability have specifically been targeted for change. Has the time come for amendments to Canada's legal rules?
By Craig Harris | July 31, 2005
10 min read
Mother nature knows no bounds, no human force can control her electric character. Her lightning personality can strike anything, anywhere, anytime. And so it reasonably stands, "everyone complains about the weather, but no one does anything about it." However, in the world of business it is possible to commandeer calamity by controlling your company's globalization, outsourcing, plant consolidations, delivery, and cross-border supply relationships. But are you effectively managing the resulting negative effects, the new risks, that accompany increased productivity and efficiency?
By Perry Brazeau, senior vice president, Canada division manager, FM Global | July 31, 2005
5 min read
In March 2004 al-Qaeda released the seventh issue in a series of articles for “members” and other jihadis around the world entitled “The Targets Inside the Cities.” From its pages jump a basic explanation as to why cities are good targets, a prioritized list of targets (religious, economic and human) and a detailed compendium of […]
By Craig A. Rowe, president, Canadian Risk Intervention Inc | July 31, 2005
4 min read
The segmentation of products and markets has been quietly evolving in the insurance business over the past 30 years. Catalysts for change toward an increasingly segmented industry structure include competition, expense control and the specialization of business. As a direct result niche product markets were born, evolving into three unique categories - ancillary, affinity and surplus line products.
By Doug McIntyre, CEO, and Mark Sylvia, executive vice president, Echelon General Insurance Company | July 31, 2005
6 min read
Greater environmental awareness, tighter regulatory standards and pressure from banks and lending institutions on real estate transactions mean that risk managers and homeowners must pay close attention to oil spills, contamination and proper remediation. The alternatives can be financially disastrous.
By Bert Wood, president, ESRS | July 31, 2005
Deep within the depths of the criminal mind lurks the premise behind how and why a crime is committed. It is within the recesses of the risk manger's mind that the job of staying one-step ahead of such criminals is invoked.
By Rob Bickerton, underwriter, corporate risk, The Guarantee Company of North America | July 31, 2005
At a time when chrome bumpers and flimsy seatbelts characterized cars, which lacked safety features such as air bags, it was the crash test dummy that taught auto safety repercussions 101. The lesson of the "Fatal Seven-Tenths" - what happens immediately before a car moving 55 miles/hour slams into a tree - resulted. Today, modern technology strives to control the potential risk of serious injury or death from auto accidents. However, are they able to stay at the head of their class and predict the answers of auto accidents?
By Frank H. Cain, Michael Palermo & Associates Insurance Ltd. | July 31, 2005
Failures extend far beyond loosing face - in the U.S. failure has served insurers a bill of US$8 billion, a "tab" accumulated over the past three years. A record number of Canadian insurers were also vulnerable over this period. Although strengthening capital and loss reserves are addressing solvency concerns, the risk of insolvency remains elevated. In response industry guarantee funds (like PACICC) are working to improve financial and operational preparedness.
By Darrell Leadbetter, Paul Kovacs and Jim Harries PACICC | July 31, 2005
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