Risk
Your company's "employee of the month" could quickly become the defaulter of the year. What strategic measures have you taken to protect your firm against fraud?
By Judith Mitchell, national fidelity manager of The Guarantee Co. | August 31, 2001
6 min read
There has been a great deal of noise in the media about the necessary price hardening of the markets brought about by insurers' poor financial results, but it remains to be seen whether these increasing rates will translate into improved earnings anytime soon. "Given the significant underpricing over the past several years", says one study conducted by A.M. Best, "it is unlikely"
By Andrew Rickard | August 31, 2001
7 min read
U.S., Minnesota- based specialty risk insurer St. Paul Companies has acquired London Guarantee Insurance Co. from Canadian-based Great West Lifeco. Inc. for $125 million. The deal has boosted St. Paul to lead-ranking underwriter of surety business in Canada. The deal was closely followed by an announcement by St. Paul in the U.S. that it had […]
August 31, 2001
2 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. CASIU/ACFE Claims Fraud Seminar. Toronto, ON. Contact Penny Hill at 416-480-9475 or email acfe.toronto@sympactico.ca for details. October 2. Ottawa […]
1 min read
Ted Belton, author of “The Belton Report”, says in the latest quarterly issue that pricing cycles cannot be blamed on surplus financial capacity. Although the industry has been consistently overcapitalized for two decades, pricing has continued to fluctuate. “The driving force behind fluctuations in the availability and cost of property and casualty insurance is underwriting […]
Quebec-based Optimum General (TSE: OGI.A) reports weak second-quarter results, despite the company’s moves to respond to poor returns in the past. Gross written premiums and net earned premiums fell, while the company’s combined ratio continues to rise. At the beginning of the year, Optimum chose to cede a higher percentage of its premiums to reinsurance […]
By Canadian Underwriter | August 10, 2001
Aon Corporation is expanding its captive and risk management business through the purchase of Sinser Holding AB, a subsidiary of Swedish-based Skandia Group. The capitve management and consulting business deals with more than 250 captives in 10 coutries, and includes consulting and research arm Risk & Insurance Research Group (RIRG).The acquisition follows Aon’s buy out […]
By Canadian Underwriter | August 7, 2001
Kingsway Financial Services Inc. announces that Frank Amodeo, former head of Winterthur International’s Canadian office, has joined the specialty auto insurer as its vice president.Amodeo was vice president and manager of multi-national operations for Winterthur’s Canadian branch, located in Toronto. The branch, along with other Winterthur International operations were recently sold to global risk underwriter […]
By Canadian Underwriter | August 2, 2001
An earthquake in Peru. The fall of the argentinean economy. tropical storm allison strikes several american states. Political tensions flare in the middle east. for the average canadian, these events seem a world away, having little impact on day-to-day life. But, for the average canadian company, these events can have a profound effect on the bottom-line. With the growth of canadian exports and domestic companies stretching their wings to establish operations beyond the border, managing these new international risks is a minefield of potential losses. and, with insurance rates hardening on a global scale and few companies willing to offer bundled international coverage, today's corporate risk managers could find themselves scrambling for cover.
By Vikki Spencer | July 31, 2001
11 min read
Rising insurance prices, increased global risk exposure, and emerging non-property risks. Today's risk management profession is facing a new corporate landscape where greater emphasis is being placed on a holistic approach to risk evaluation and cost. Can risk managers benefit from the expertise and risk tools developed by insurers?
By Perry Brazeau, Senior Vice President of Fm Global, Canadian Divi | July 31, 2001
4 min read
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