Risk
Sexual Abuse in the Church Under Scrutiny; Vicarious liability is the startling legal concept that someone can be held liable for a third party's injuries when they were not actively involved in the incident that caused the damages. Parties sued for vicarious liability are generally, but are not always in a supervisory position over the person who would ordinarily be personally responsible.
By William Blakeney | February 29, 2004
8 min read
While many insurers have written food-processing risks with a lenient attitude - with an eye cast at the food processing industry's historically attractive underwriting result - warning lights are now beginning to blink, suggesting that litigation involving the entire food processing enterprise, both animal and human, may be the next big thing in long-tail product liability.
By Allison Murray | February 29, 2004
7 min read
Premium hikes and availability issues have prompted the Canadian Federation of Independent Business to call for a federal review of the property and casualty insurance industry. But, insurers and brokers say solutions for small businesses should be market-driven, not political. They also contend that the market is working.
February 29, 2004
10 min read
One of the most important trends to have evolved in the insurance industry is the use of outsourcing to reduce costs and improve the quality of service to customers. Most insurers have already reduced their costs as much as possible. However, the use of outsourcing, particularly to offshore low-cost jurisdictions, is rapidly becoming unavoidable in order to remain competitive in the insurance industry.
By Brian Reeve | February 29, 2004
4 min read
Insurers and their commercial clients are paying out too much on claims that could be defended, speakers warned at a recent seminar hosted by Crawford Adjusters Canada Ltd. “I’m darned tired of seeing these companies and insurers kicked around by claims they shouldn’t have to pay,” says Owen Smith, a defense lawyer and president of […]
2 min read
A review of the 2004 reinsurance treaty renewal season shows primary insurers are looking at diversifying their spread of reinsurance, as well as focusing on reinsurer security ratings. Reinsurers, for their part, are looking for transparency from their primary company clients, in order to ensure the profitability demanded by investors.So says Aon’s latest report, “Reinsurance […]
By Canadian Underwriter | February 26, 2004
Insurers are proposing a “no frills” auto policy as a respond to growing public outrage about auto rates in New Brunswick.In a release Tuesday, the Insurance Bureau of Canada (IBC) explains the policy will provide the basic liability coverage required by law and allow customers to choose options beyond this minimum. The proposal has been […]
By Canadian Underwriter | February 25, 2004
U.S. insurers are fighting back in the credit scoring debate, releasing their own analysis to criticize a recent report by the Missouri Department of Insurance (MDOI). The MDOI study found that low income and minority groups were negatively impacted by credit scoring a practice used by large U.S. insurers where a person’s credit history is […]
By Canadian Underwriter | February 24, 2004
B.C.’s government auto insurer is looking to become more competitive and behave more like a private insurer, according to the 2004-2006 service plan tabled by the Insurance Corp. of B.C. (ICBC) as part of the provincial budget this week.Since the introduction of measures to open up the “optional” portion of auto coverage to further competition, […]
By Canadian Underwriter | February 19, 2004
In a new report on the real estate insurance market, global broker Willis says despite price relief in the property line, other coverages and a continued hard line on terms and conditions are still causing headaches for the industry.Speaking of the U.S. market specifically, Willis notes that even in the property line, where rates for […]
By Canadian Underwriter | February 18, 2004
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