Risk
The recent acquisition of insurance wholesale broker KMS Insurance by consolidator The Hub Group emphasizes the change consolidation is bringing about throughout the broker distribution channel. Wholesale brokers and managing general agents have been brought into the market fray of soft rates and the eternal drive for cost-efficiency. Is there a future for this particular breed of broker -- most of the players believe so, but each appears to be taking a different course.
By Lowell Conn | September 30, 1999
5 min read
Angela Haywood, the 1998 winner of The Sovereign Award, which each year recognizes superior achievement by a graduate of the Risk and Insurance Management Program at the University of Calgary, is congratulated by (left) P.A. Parkin, Sovereign General’s vice president of branch operations and (right) M.J. Goertzen, Sovereign’s Alberta branch manager.
September 30, 1999
1 min read
The Risk and Insurance Management Society (RIMS) has announced Christine Zahn has been named as the new director of events management and Mary Roth has been named to the newly created position of deputy executive director. Zahn, who joined RIMS in 1989 as a conference assistant, will oversee all planning aspects of the RIMS Annual […]
2 min read
Canada is big business — amounting to some $17 billion each year. And, although Canada’s money recycling black market is minor in global terms (which the U.N. estimates to be $1 trillion worldwide), there are weaknesses in the current financial business system which have garnered international attention. As such, Canada’s legislators recently proposed amendments to […]
By Nikki McManus, a freelance writer | September 30, 1999
Last June the federal government released its white paper on financial services regulation. While the gist of the paper was very much in favor of protecting the existing rights of members of the property and casualty insurance industry, contained within the proposed legislation are three areas of issue: The future establishment of a federally-charged ombudsman […]
By Michael Hlinka | September 30, 1999
9 min read
With year 2000 reinsurance treaty negotiationscurrently in full swing, there is a desperate hope among the players that rates will return to moresensible levels. However, faced with increasedcompetition, both locally and globally, reinsurersanticipate a long road ahead before the soft market cycle is broken. CU surveys the top reinsuranceCEOs in Canada to identify their strategies […]
By Sean van Zyl, Editor | August 31, 1999
16 min read
Since reforms in the mid-1990s, more and more corporate capital is flowing into Lloyd's of London -- much of it from some of the world's most noted reinsurers. Could this injection of new capital forge the rebirth of the world's most unique insurance market?
By Glenn McGillivray, head of corporate communication at Swiss Rein | August 31, 1999
Foods that hit New Brunswick and Nova Scotia the week of July 26 have formed one of the largest insured losses to hit Atlantic Canada this decade. Close to 900 claims have been submitted to date and insurers predict damages will reach $5.6 million in Moncton, New Brunswick and $2.5 million in Antigosh, Nova Scotia. […]
August 31, 1999
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. Canadian Insurance Accountants Association: Annual Conference. Contact Paul Mann at 905-274-2722. The Prince Edward Hotel, Charlottetown, PEI. Sept. 19-22. […]
Over the past decade sexual abuse claims in institutional environments have become one of the most troublesome areas of civil litigation. In particular, insurers underwriting risks involving many of Canada's most respected not for profit, charitable and religious organizations are now find themselves confronted by catastrophic personal injury claims involving serious allegations from past decades.
By William Blakeney, BA (Hons.) LL.B and Khalid Baksh, BA (Hons.) L | August 31, 1999
7 min read
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