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. Insurance Bureau of Canada: Financial Affairs Symposium. Contact Tracy Waddington at 416-362-2031 ext. 352. Sheraton Centre, Toronto, ON. Mar. […]
February 28, 1999
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. Canadian Insurance Accountants Association: Seminar & Luncheon. Contact the CIAA at 905-274-2422. Toronto Hilton Hotel, Toronto, ON. Mar. 10. […]
January 31, 1999
1 min read
At the time, it captivated Canadians across the country and even today is at the top of book best seller lists. The raw power of nature displayed by the ice storm which paralyzed south eastern Ontario, Quebec and parts of the northern U.S. in January last year continues to attract public attention. However, the experience […]
By Paul Kovacs, Executive Director, Institute for Catastrophic Loss | January 31, 1999
7 min read
U.S. insurers will feel the earnings pinch this year, with many companies forced to take on riskier investment exposures to bolster their bottom-lines, says Ernst & Young’s 1999 “State of the Insurance Industry” report. Other findings warn the U.S. property and casualty insurance industry of increased foreign competition and international mergers which will likely lead […]
Bugs, big deals, bad spills and a certain public official’s sexual high crimes and misdemeanors were all key factors driving the corporate insurance market throughout 1998. And the same scary financial exposures will likely be very much in the minds of Canadian risk managers, their insurers and intermediaries for much of 1999, key industry players […]
By Shelley Boyes | January 31, 1999
9 min read
With most insurance claims the paper trail starts with an incident report. The incident report is then prepared as a claim report by the internal claims handler who in turn creates a paper track process. A third party adjuster then creates a file and, with larger claims involving risk managed environments, the broker and the […]
By Philip Sceviour, President of Panda Systems Inc. | January 31, 1999
6 min read
New York-based Worldwide Weather Trading (WWT), a trading company dealing exclusively in weather hedges, has announced agreements with 10 reinsurers to underwrite its trading risk. With the announcement, the company unveiled its new trading offices in New York, facilitating full-scale trading operations. WWT, along with reinsurers such as Hannover Re and Zurich Re, are among […]
Instant communication has come to the computer desktop through a miraculous little software company called Mirabilis. The Tel Aviv based company has revolutionized communication across the Internet with its innovative little program called ICQ which translates to the not-quite-acronym “I Seek You”. ICQ is a program that, once installed on an Internet-connected computer, acts as […]
By Andy Walker | January 31, 1999
4 min read
Bermuda-based ACE Ltd., listed on the NYSE, has acquired the global property and casualty insurance operations of CIGNA Corporation for US$3.45 billion. Subject to regulatory approval by the end of June this year, the deal will be cash financed which Ace says will be raised through the issue of new stocks and debts. The purchase […]
Last November I provided a presentation in Boston, Mass. on "Automated Fraud Control" to an audience of senior American insurance executives. While all nodded in agreement with my salient points, that being internal fraud within the insurance industry is on the rise and needs to be addressed sooner than later, I was left with the feeling that most of the listeners were too aghast at the thought that their employees might be capable of stealing.
By Linden Rees, president of Underwriters Fraud Control Inc. | December 31, 1998
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