Risk
Canadian automobile insurers wrote a combined $9.3 billion in earned premiums in 1998 while incurring losses of $7.0 billion. This 77.45 loss ratio ranks second only to accident & sickness as the worst loss experience category among all property & casualty business. Factoring in an industry average expense ratio of 32.29, this boosts the total […]
By Lowell Conn | August 31, 1999
9 min read
Following a lengthy period of stagnation, pricing within the U.S. reinsurance market seems to have stabilized, with even some evidence in the market of rate increases. However, until the market's excess capacity is depleted, buyers of reinsurance will continue to enjoy the benefits of highly competitive pricing.
By Sean Mooney, senior vice president at Guy Carpenter & Company In | August 31, 1999
5 min read
Global broker Willis Canada has divested its Ottawa area commercial accounts to regional broker Binks Insurance Brokers Ltd. in a move industry observers suggest could be a sign of things to come in the commercial brokerage sector. Terms of the deal were not announced, but Henry Binks, president of Binks Insurance, says total premiums after […]
August 31, 1999
2 min read
Recent years have seen the emergence of ethical issues relating to multi-disciplinary professional firms such as lawyers and accountants. Questions have been raised over the role such organizations play in providing global services to companies such as insurers while maintaining confidentiality of the information handled and thereby avoiding potential conflicts of interest. A recent legal case has drawn a clearer picture of this ethical debate.
July 31, 1999
4 min read
Webster’s New Collegiate dictionary defines the word “risk” as being “the chance of loss or the perils to the subject matter of an insurance contract”. It also defines “management” as “the act or art of managing: control or direction.” Dictionaries, like many communication tools, are in practice subject to local interpretation. It was therefore highly […]
By Lovel Vining, risk manager at Mayne Nickless Ltd. (Canada) | July 31, 1999
6 min read
With e-commerce widely predicted to explode into the mainstream world of business in coming years, the lure of “getting into the ‘net game” before it becomes too late is almost irresistible for most companies. In particular, the Internet is expected to play a critical future role in the selling and shaping of financial service products, […]
By Marcus Snowden, partner at McCague, Wires, Peacock, Borlack & Ll | July 31, 1999
The early 20th century was a revolutionary time for the fine art community, with “modern artists” such as Henri Matisse carrying forward the early exploration attempts of the impressionist painters in testing conventional “realist” theory. In many respects, the modern art movement lead by Matisse — dubbed “the fauvists” (the primitives) by shocked French critics […]
By Lowell Conn | July 31, 1999
10 min read
There is a patriotic undertone to this year's Canadian Risk & Insurance Management Society (CRIMS) national conference -- "Risk on the Rock" -- which will be held in St. John's Newfoundland this coming September. In addition to hosting one of Canada's premier national conferences, the province is also celebrating its fiftieth year of Canadian confederacy.
There’s a new insurance company on the block with a 165-year history, following the recent merger of commercial/industrial property insurers Allendale Insurance, Arkwright, Protection Mutual Insurance and their affiliate Factory Mutual. The new company will market itself as FM Global. FM Global customers now have a single organization to deal with and a stronger global […]
By Steven Zenofsky, public relations consultant at FM Global | July 31, 1999
3 min read
Several months ago Northern Telecom shook the Canadian business community when it announced plans to relocate to the U.S., mainly due to the high personal income tax structures in Canada which make it difficult if not impossible to compete against American companies for employee talent. In mid-June, Finance Minister Paul Martin broadly addressed the “brain […]
By Michael Hlinka | July 31, 1999
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