Risk
North American airlines have succeeded in gaining a license to operate a risk retention pool from Vermont’s "onshore" captive domicile. The "Equitime" pool will provide its airline members with cover against terrorism and war related third-party risks. European airlines are currently seeking EU approval to establish a similar "self-insurance" mechanism in the wake of steep […]
By Canadian Underwriter | June 14, 2002
1 min read
In it submission to the New Brunswick select committee on auto insurance, the Facility Association is asking that it be subject to the same “file and use” rate system as the rest of the industry. Although 1997 legislation in New Brunswick allows the voluntary market flexibility to increase rates through the “file and use” system, […]
By Canadian Underwriter | June 13, 2002
2 min read
Democrats in the U.S. Senate have pushed a bill to create government-backed terrorism reinsurance onto the agenda. Bypassing the committee phase, Senator Christopher Dodd, co-sponsored by Senators Harry Reid, Paul Sarbanes and Charles Schumer, have moved the bill onto the Senate’s agenda.The contents of the plan differ from a House plan created late last year, […]
By Canadian Underwriter | June 11, 2002
Canadian Transport Minister David Collenette says new entrants into the airline industry will enjoy the same war-risk coverage currently being extended by the government to existing companies. The temporary cover is for third-party war-risk liability and was introduced after insurers withdrew the coverage following the September 11 terrorist attacks.The coverage deadline has been extended several […]
By Canadian Underwriter | June 6, 2002
Anyone living under the impression that the current hard market will be short-lived may have pause to reconsider, members of an industry panel tell delegates at the 12th Annual Canadian Insurance Congress this week. Panelists agree it will take prolonged rate increases to bring the industry back up to profitable levels. “I don’t see this […]
By Canadian Underwriter | June 5, 2002
3 min read
Is your website exposing your company to risks?
By Miriam Fitzgerald, solutions marketing at Watchfire Corp. | May 31, 2002
5 min read
Events from air shows to street festivals to sporting venues have suffered the wrath of insurers in the form of sharp premium hikes, inflated liability limits and coverage restrictions. Is this a new insurance crisis or just evidence of the industry's cycle at work?
By Craig Harris | May 31, 2002
11 min read
The "flash and flare" of New Orleans acted as a vibrant backdrop for the 34th Annual Risk and Insurance Management Society (RIMS) Conference recently. For the society, and for its members, it became evident from the proceedings that this is a "time of action". On the legislative front, RIMS finds itself challenged to represent members with the highest levels of government in the fight for a terrorism reinsurance backstop. And for risk managers, the rapidly hardening market is challenging them to become informed and bring their message to the highest levels of the corporate structure.
By Vikki Spencer | May 31, 2002
7 min read
Almost a year ago I attended the International Insurance Association (IIA) annual conference, which took place in Vienna, Austria. During the course of this business trip, I managed to sneak in a “city tour” of the city, which included a stop at the world-famous Prater amusement park. After having taken in the obvious sights, such […]
By Sean van Zyl, Editor | May 31, 2002
4 min read
The Risk and Insurance Management Society honored retiring Canadian director of legislative, risk management and public affairs Lloyd Hackett recently at its annual conference in New Orleans. Making the presentation is Mike Phillipus, vice president of communications & external affairs for RIMS. As the company moves it focus to commercial lines, Zurich North America Canada […]
May 31, 2002
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