Risk
The body representing Canada’s risk managers has staged its first annual meeting with federal representatives in Ottawa, aimed at increasing the profession’s profile with regulators and legislators. The RIMS Canada Council (RCC), mirroring the “RIMS on the Hill” event staged each year in the U.S., met with the Office of the Superintendent of Financial Institutions […]
By Canadian Underwriter | March 15, 2004
1 min read
With the release of Royal & SunAlliance Insurance Group’s results, the Canadian operations are posting improved operating results, however Facility Association (FA) losses are hampering the effect of prince increases and reduced exposures.Overall, the parent company is reporting a pre-tax loss of GBP 146 million (Cdn$348 million), down from a loss of GBP 953 million […]
By Canadian Underwriter | March 12, 2004
2 min read
A new report by international broker Aon suggests the global aviation market is facing a very uncertain future with premiums falling last year.Aviation losses were down in 2003 to the lowest level in history in 2003, and rates fell by 18% as a result. But this reduction in losses belies the serious potential exposures faced […]
By Canadian Underwriter | March 11, 2004
Insurers are doing a lot of thinking about enterprise-wide risk management (ERM) programs, but not taking enough action, suggests a new study by PriceWaterhouseCoopers. Insurers see the value in ERM in meeting their financial goals, the study shows, but also see many challenges to its implementation. Insurers think ERM can help with product development and […]
By Canadian Underwriter | March 9, 2004
Economic crime, and cybercrime in particular, are on the rise, says a new survey by PriceWaterhouseCoopers LLP. The consulting firm says more than one-third of companies report being a victim of fraud in the last two years, a figure much higher than in earlier surveys. And Canada was particularly hard hit, with almost one-half of […]
The annual edition of the Risk and Insurance Management Society (RIMS) Benchmark Survey shows that while the hard market is waning, commercial insurance buyers are anticipating a new kind of market with more diverse risk transfer options and the potential for shorter market turns.In its survey of almost 1,000 companies in the U.S. and Canada, […]
By Canadian Underwriter | March 8, 2004
Rising premiums in both the commercial and personal lines p&c sectors led to the lowest level of insurer insolvency in the U.S. since 1998, says rating agency Standard & Poor’s. Reporting on 2003 yearend figures, S&P says a total of 28 insurers were placed under regulatory supervision, with 20 of these from the p&c sector. […]
By Canadian Underwriter | March 5, 2004
At the end of 2003, two commercial insurance surveys came out suggesting the market turn risk managers had been praying for was on its way. First, the Risk and Insurance Management Society (RIMS) benchmark survey (inclusive of U.S. and Canadian commercial insurance buyers) indicated signs of softening rates in the property line, with some accounts […]
By Vikki Spencer | February 29, 2004
10 min read
As Nancy Chambers gears up for her term as president of the Risk and Insurance Management Society (RIMS), she knows risk managers are in the midst of a difficult insurance market and increasing expectations from the highest corporate levels. Chambers follows a long line of Canadian RIMS presidents and says she will build on the successes of the past to forge new channels of communication for risk managers and their partners.
6 min read
Suicide bombings in Baghdad continue to see a rising toll in deaths of “reconstruction” foreign workers and military personnel…Ongoing conflict between Palestinians and Israelis continues to produce reprisal acts of violence…A coup de tat in Haiti results in mass civil unrest…A previously unheard of terrorist organization in France plants bombs on the country’s major railway […]
By Sean van Zyl, Editor | February 29, 2004
8 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.
