Risk
Over the five-years ending 2003, captives posted net written prmeiums growth of 45%, according to a new report by A.M. Best. In its annual captives review, the rating agency finds over the same five-year period, admitted assets are up 29%, testament to the importance captives are playing in the international risk transfer market.However, captives appear […]
By Canadian Underwriter | August 8, 2004
2 min read
In the latest survey of financial services companies’ views on risk management, PriceWaterhouseCoopers and the Economist Intelligence Unit find a heightened profile for the risk management function and specific concerns about unquantifiable risks, namely reputational risk. In fact, reputational risk is now viewed as the greatest threat to the market value of organizations.A previous study […]
By Canadian Underwriter | August 4, 2004
1 min read
While the pricing, terms and availability of commercial liability coverage in the Canadian marketplace are easing as insurers have found the "right price" after two years of an intense hard market, taverns and other commercial entertainment hosts engaged in the selling of alcohol continue to suffer from tough insurance conditions. And, with recent legal decisions suggesting that the courts may be willing to broaden the scope of liability relating to alcohol abuse to include employers and even "social hosts", insurers are less than keen to increase their exposure to the vagaries of the tort system.
By Sean van Zyl, Editor | July 31, 2004
9 min read
Samuel Johnson once commented that if a man could say nothing against a character but what he can prove, history would not be written.
By William Blakeney | July 31, 2004
8 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
July 31, 2004
4 min read
Both Canadian-owned and foreign-owned branch property and casualty insurers can attest to the challenging local underwriting conditions of recent years – evidenced by the extreme volatility in the industry’s financial performance. While the industry as a whole appears to have crawled onto safer financial ground over the course of 2003 and this year, the surviving […]
By Sean van Zyl, Managing Editor | July 31, 2004
The current hard market for commercial liability and property insurance coverages has made the use of alternative risk management structures attractive again. The liability crisis of the mid-1980s resulted in the formation of a number of offshore captive insurance companies. The current market conditions are likely to result in a new interest in forming captive insurance companies as well as other types of alternative risk management.
By Brian Reeve | July 31, 2004
6 min read
The soft market is well on its way, according to the second quarter 2004 Risk and Insurance Management Society (RIMS)/Advisen benchmark survey. The risk manager survey shows half of all commercial accounts saw rate decreases on renewal. The survey suggests commercial premiums fell by an average 18% during the second quarter, with previously difficult lines […]
Groupe Promutuel has named Adrien Viens as its new president, following the departure of former president Mario Fortier for health reasons. Viens is president of Promutuel Gaspesie – les Iles since 1998, and sits of the board of Groupe Promutuel, Promutuel Capital trust company, and Promutuel Guarantee Fund. *** Kingsway Financial Services has promoted Claude […]
Part of being competitive in today's business world means having a stake in the ever-expanding cyber universe. But as the virtual world grows, so do the potential sources of risk.
By Barb Szychta | July 31, 2004
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