Risk

Mid-Sized Commercial Brokers: Holding the Line Fallback Image Decorative pattern

Risk

Mid-Sized Commercial Brokers: Holding the Line

Brokers serving the bigger Canadian commercial risk pool outside of the mega international corporations say that rising insurance industry profitability has not softened the tough approach of insurers to pricing, terms and availability of coverage. But, with many commercial clients across the corporate earnings spectrum suffering through their third consecutive year of premium increases, there is acknowledgement by insurers of growing "market rate fatigue", brokers add, which is bringing about a slow softening to the pricing of property risks with even a few new underwriters looking to venture into the broader commercial marketplace.

By Craig Harris | September 30, 2003

8 min read

Liability Insurance: “Tied Selling” or Good Practice? Fallback Image Decorative pattern

Risk

Liability Insurance: “Tied Selling” or Good Practice?

The insistence on errors and omissions (E&O) insurance for virtually any kind of professional exposure has created some waves in this specialty market, particularly for engineers. Poor results, increasing claims and emerging exposures are prompting insurers to aggressively seek rate adjustments, carefully monitor loss trends, and re-evaluate specific coverages for many lines of E&O. In some cases, such as in Alberta, the regulator is beginning to question whether the approach of insurers falls within accepted business boundaries or whether their actions fall under "tied selling".

By Craig Harris | September 30, 2003

6 min read

Liability Exposure South of the 49th Parallel Liability Exposure South of the 49th Parallel Image

Risk

Liability Exposure South of the 49th Parallel

It is the largest product liability verdict so far this year - and one unheard of within Canada's kinder legal system. A Florida jury this past August ordered a Wisconsin pool-pump manufacturer to pay US$104 million in compensatory damages to the family of a boy who sustained permanent brain damage after his arm became stuck in a pool drain three years ago. And the whopping $104 million is just the beginning. Further punitive damage awards are reported pending, as the pool pump company was allegedly aware of a manufacturing defect for years, yet did nothing.

By Mark Ram, president of Markel Insurance Co. of Canada | September 30, 2003

8 min read

Managing Vehicle Theft Fallback Image Decorative pattern

Risk

Managing Vehicle Theft

Automobile theft costs Canadians close to $1 billion every year. To combat this alarming trend, vehicle owners should adopt a more proactive technological approach to risk management – and the insurer must provide the incentive to do so. Automobile insurance has become an important concern for all Canadians, as increasing costs and accessibility have brought […]

By Serge Laporte, Boomerang Tracking Inc. | September 30, 2003

3 min read