Risk
The Catholic diocese of St. George’s in Newfoundland is seeking a 45-day extension to file its proposal for bankruptcy. The filing is a means to stay proceedings in civil actions against the dioceses by 36 victims of sexual abuse. The diocese says it needs the time to complete assessments of the value of certain holdings, […]
By Canadian Underwriter | April 4, 2005
1 min read
Standard & Poor’s says the “BBB+” financial strength rating of St. Paul Travelers Cos. Inc. will not be impacted by news the company will divest itself of its ownership interest in Nuveen Investments Inc. St. Paul Travelers will now record Nuveen as a discontinued operations and as such record a tax charge of US$690 million […]
By Canadian Underwriter | April 3, 2005
2 min read
The small to medium-sized enterprise (SME) business segment dominates the Canadian economy. Yet, it is a marketplace which property and casualty insurers have in the past experienced varied success, with not all carriers having expressing wholehearted enthusiasm at developing coverage solutions appropriate to the needs of these insureds. The reaction of insurers in the most recent hard market pricing cycle bears testimony to the inconsistency which some insurance companies have approached underwriting of the small to mid-sized business marketplace. But, with renewed pricing stability having being achieved in many commercial lines, we believe that a concerted effort is now needed to provide long-term and consistent coverage solutions to the SME sector.
By Mike Jakeman, vice president of commercial insurance at Royal & SunAlliance Canada | March 31, 2005
4 min read
With the hard market all but over, Canada's insurance "wholesale" market is facing increased competition from standard carriers. What will this mean for brokers? And, how will the specialty firms adapt?
By Tom Talbot, president of The Wholesale Insurance Group | March 31, 2005
5 min read
The group insurance segment of the property and casualty insurance industry was one of the few places clients could find some shelter from the large premium increases during the recent hard market. Posting generally better loss ratios and offering steadier rates, many group insurers experienced considerable growth in premium volume. They also used the past three years as an opportunity to "fine tune" risk classification. But, as the market softens, the question now is who will be able to continue this growth - while keeping strict criteria for a "homogenous" group definition?
By Craig Harris | March 31, 2005
9 min read
The magic word for auto insurance in Atlantic Canada right now is "stability". As an industry, we have achieved stability in most of the region, or are very close to it, and must now work hard to maintain this environment.
By Don Forgeron, vice president Atlantic region at the Insurance Bureau of Canada | March 31, 2005
6 min read
In the wake of the broker compensation controversy which has rocked the commercial insurance industry in recent months, risk managers met at the recent Ontario Risk & Insurance Management Society "Professional Development Day" filled with questions and seeking solutions to improved relationships with their broker and insurer partners.
By Vikki Spencer | March 31, 2005
Brokers are always looking for new clients. Some just happen to look in the wrong places. There is a better and easier way to fill the “prospect pipeline”. How do you get sales leads? There are only so many strategies out there, and brokers have tried (and had limited success) with a number of methods. […]
By Rick Bauman, president of Bauman Consulting Inc. | March 31, 2005
Good to see you!” The smiled greeting came to me and my boss, Fred Wilson, from the president of the national industry association. The occasion was the official opening of the association’s new office, located in one of the city’s shining high rise towers. Fred was the manager of our insurance company’s downtown branch. As […]
By Axiom | March 31, 2005
10 min read
2005 would seem to be the "year of the broker" with total premiums in Canada having more than doubled over the past four years, prices now declining, and coverage availability rising in both personal and commercial lines. And, perhaps best of all, brokers countrywide report a significant drop in public hostility with much higher customer retention levels. The exuberance emanating from independent brokers suggests the profession is "flying high" after having been tested by what many in the insurance industry regard as the toughest market cycle yet experienced. However, brokers remain aware of the industry's vagarious business cycle - which like an unpredictable air current can cause those daring to ride it to soar or crash.
By Sean van Zyl, Editor | March 31, 2005
13 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
