Risk
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. IIO Speakers Club Meeting. Toronto, ON. Contact Bonita Kearns at 416-976-5111 ext. 211 for more information. January 21. Strategy […]
December 31, 2001
2 min read
With the U.S. Congress adjourning for the year, there will be no terrorism risk pool in place as insurers head into the new year, when most commercial policies come up for renewal. Congress gave up the ghost when the U.S. Senate failed to bring a measure to the floor before the holiday break yesterday.The effects […]
By Canadian Underwriter | December 21, 2001
On a worldwide scale, catastrophes both man-made and natural resulted in losses of more than US$115 billion, costing insurers more than US$32 billion, in 2001, says a study from Swiss Re. The US$115 billion figure is three times that of the average yearly losses experienced in the 1990s. The largest of these events was, of […]
Coverage for airlines introduced by the government following the September 11 terrorist attacks could become a permanent measure, the National Post is reporting. This comes after an announcement by federal Transport Minister David Collenette that the temporary coverage, which involves third-party aviation war risk, would be extended into next year.Originally the coverage was introduce following […]
By Canadian Underwriter | December 10, 2001
1 min read
The cost of risk declined in 2000, according to a survey released by the Risk and Insurance Management Society (RIMS). The annual Benchmark Survey, conducted with Ernst & Young, asks more than 830 risk managers in the U.S. and Canada to tally costs associated with risk management functions, including insurance premiums, retained losses, internal administration […]
By Canadian Underwriter | December 6, 2001
Markham-based Insurers’ Advisory Organization (IAO) is teaming up with the U.S. Insurance Services Office to create and sell products in both countries. IAO, which is part of the UAB Group, will market ISO forms, rules and loss costs to Canadian companies doing business south of the border, the company says.Part of the deal involves IAO’s […]
At Swiss Re’s annual yearend insurance industry review, speakers noted that while the global recession was likely to last well into next year, the insurance industry is on the road to recovery since September 11. “The U.S. and global economies are in a recession and it is likely to last at least through mid-2002,” says […]
By Canadian Underwriter | December 5, 2001
In a response to the Newfoundland government’s consultation paper on auto insurance reform, the Facility Association (FA) has come out strongly against several proposed changes to its operation in that province.The plan calls for the government to control the membership and composition of the board of directors of FA, a move the insurance pool, which […]
By Canadian Underwriter | December 3, 2001
With the Canadian property and casualty insurance industry likely to end this year with a return on equity of less than 2% — the lowest level on record — and as claim costs continue to outstrip premium growth, insurer CEOs are predicting a difficult year for 2002. Insurers are also concerned with the pending withdrawal […]
By Sean van Zyl, Editor | November 30, 2001
10 min read
Reinsurers do not just provide covers, they provide guarantees -- promises that they will see the contract through, and not just collect a premium. This is where a reinsurer's counter-party credit and claims-paying ability rating comes into play, especially if the risk has a long-tail or the maximum loss may be substantial.
By Glenn McGillivray, asst. VP of corporate communication, Swiss Reinsurance Co. of Canada | November 30, 2001
7 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.
