Risk
A new report from analysts Conning and Company says U.S. property and casualty insurers will begin pricing “terrorist attack risk” separate from other coverage in light of the September 11 terrorist attacks. The report also suggests that maximum probable loss in claims will be refigured to a higher level and priced accordingly. As well, Conning […]
By Canadian Underwriter | October 18, 2001
1 min read
The Newfoundland government is putting auto insurance reform on the table, releasing a discussion paper that proposes restrictions on the ability to make claims for pain and suffering as a result of minor accidents. Medical and financial claims would remain accessible, and claims for pain and suffering on permanent or serious injury cases.Government Service and […]
By Canadian Underwriter | October 5, 2001
2 min read
The future of aviation insurance, as well as airport and air navigation facility coverage, are the subject of debate and speculation since the September 11 terrorist attacks. The National Post reports Canadian Transport Minister David Collonette says the government could step in long-term to cover the country’s airline industry. The federal government, along with several […]
The images of death and destruction that burned into our consciousness on September 11, 2001, will forever haunt us. Over time, the buildings, airplanes, and property damage can be replaced or repaired, however the horrific and sudden loss of life will always remain with us. The human suffering from this disaster is incalculable. Although life can never be replaced, life insurance can help prevent further financial trauma. Life insurers and life reinsurers are now called upon to make good on promises made to policyholders.
September 30, 2001
4 min read
As delegates at the 2001 Canadian Risk and Insurance Management Society (CRIMS) Conference learned of the tragic terrorist attacks carried out in the U.S. mid-way through the gathering, normal sessions were put aside and attention turned to the implications, both personal and professional, of these historic events. Amidst fears for co-workers possibly involved in the World Trade Center (WTC) crisis and a general outpouring of sympathy, risk managers tried to understand the disaster, and perhaps even take some lessons.
By Vikki Spencer | September 30, 2001
6 min read
The combined impact of increased customer expectations and the shifting competitive landscape is driving significant change in the Canadian service industry. More than any other factor, it is the ability of insurers to work closely with brokers in a true partnership relationship, driving out costs and delivering true value to the customer, that will determine the success of the players.
By Grace Webster, of Royal & SunAlliance Insurance Co. of Canada | September 30, 2001
Terrorism, and the cost of terror, has taken the forefront of catastrophic loss concerns of the global insurance industry. Until September 11 of this year, when acts of terrorism perpetuated in New York City and Washington D.C. brought about destruction of unprecedented magnitude and horror, the concept of such a loss was unimaginable in North […]
By Sean van Zyl, Editor | September 30, 2001
13 min read
The events of September 11th, 2001 not only stunned the majority of mankind through the sheer evil of the acts committed, but served as a clarion call to the U.S. business community of its exposure to the threat of economic terror.
By Linden Rees, president of Insurers Security Services Inc. | September 30, 2001
3 min read
The tragic and unexpected events which unfolded on September 11 of this year when terrorists attacked the World Trade Center, New York City, and the Pentagon in Washington D.C. by using four hijacked jetliners as “flying bombs” has left the world dumbfounded. At first, the horror as news of the travesty swept across global news […]
The North American financial services landscape has changed dramatically in the last ten years. Recent legislation in both Canada and in the U.S. has helped to pave the way for industry convergence, with some believing that new, "one stop shop" financial supermarkets will emerge where the four pillars of the banking, insurance, securities and trust sectors once stood. Is it time for property and casualty brokers to think seriously about offering new products to their clients?
By Andrew Rickard | September 30, 2001
9 min read
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