Risk
Despite the introduction of new legislation to deal with some of the issues plaguing Ontario’s auto insurance market, and the decision not to open up B.C.’s auto market to competition, auto remains a top priority for the Insurance Bureau of Canada (IBC) in the year ahead. At the IBC’s annual general meeting, CEO Stan Griffin […]
By Canadian Underwriter | December 4, 2002
2 min read
The year past was marked by financial downgrades of insurers and reinsurers, investment write-offs, falling capacity, multi-million dollar reserving adjustments and a scarcity of new capital. And, oh yes, this year was the first “real round” of the so-called “hard market” as the property and casualty insurance industry pricing cycle rocketed upward in the aftermath […]
By Sean van Zyl, Editor | November 30, 2002
21 min read
And then there was one. As from the beginning of 2003, the minimum capital test (MCT) replaces the various minimum asset tests (MAT) currently applied across the Canadian property and casualty insurance industry.
By Paul Kovacs | November 30, 2002
5 min read
When the federal privacy act was passed in 2000 and insurers learned they would not fall under its requirements until 2004, implementation seemed a long way off. Now, the industry must step up its preparations, and there is no clear consensus on just what must be done to meet these new obligations. At the recent Insurance Bureau of Canada (IBC) Regulatory Affairs Symposium, the privacy debate kicked into high gear.
By Vikki Spencer | November 30, 2002
In 1995 Jan Tomlinson crossed the border to take over as president of Chubb Insurance Co. of Canada. That was also the same year one of the industry's premier organizations, the Women in Insurance Cancer Crusade (WICC) began raising funds to fight the dreaded disease. Since that time, Tomlinson has emerged as a strong voice for core underwriting discipline and claims service. She has also taken a lead role in the industry's battle against cancer as co-chair of WICC.
Adjusting vehicle head restraints, or headrests, can help prevent the pain of whiplash, says a new Canadian study. The message for drivers: rest up and save your neck.
By Mary Lou Reilly, IBC | November 30, 2002
Ice and snow removal contractors are in the insurance spotlight, as growing liability exposures force property and casualty insurance carriers to pull back coverage. Those insurers that remain in the business are taking a careful approach to underwriting - and loss prevention.
By Craig Harris | November 30, 2002
8 min read
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. To post events online, visit www.canadianunderwriter.ca and click on “Submit Your Event”. TIWA Dinner Meeting. Toronto, ON. For information […]
November 30, 2002
1 min read
Despite major financial upsets over the past two years, culminating in the devastating loss arising from the World Trade Center (WTC) terrorist attacks, the global reinsurance sector is emerging “alive and well”, says Ross McKenzie, CEO of Aon Re International. McKenzie presented a future outlook for the reinsurance marketplace at a recently held industry event […]
Rating agency A.M. Best has placed the Allianz group’s “A++ (superior)” financial rating under review with negative implications. The negative review also applies to the holding company’s current debt rating of “AA+”. A.M. Best says the negative review was issued in order for the rating agency to evaluate the full impact of Allianz’s third quarter […]
By Canadian Underwriter | November 21, 2002
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