Industry
Specialty risks auto insurer Kingsway Financial Services Inc. (TSE: KFS) has received a $66.5 million credit facility from a banking syndicate consisting of Canadian Imperial Bank of Commerce (CIBC), LaSalle Bank National Association and HSBC Bank Canada. The insurer says the debt funds will be used for "general corporate purposes". Toronto-based debt rating agency, DBRS, […]
By Canadian Underwriter | June 3, 2002
1 min read
Rating agency A.M. Best is downgrading the “public data” financial strength rating of Allstate Insurance Company of Canada to B+ from B++. The rating of Markham-based affiliate Pembridge Insurance Company is also downgraded to B- from B+.The new “public data” rating system just introduced by A.M. Best is an attempt to note the limited nature […]
2 min read
The "auto insurance standard invoice" (AISI) - which applies to personal injury auto claims - has entered a new phase following its introduction six months ago. AISI is now a critical component of the operating environment of both insurers and healthcare providers.
May 31, 2002
6 min read
Risk
Is your website exposing your company to risks?
5 min read
Events from air shows to street festivals to sporting venues have suffered the wrath of insurers in the form of sharp premium hikes, inflated liability limits and coverage restrictions. Is this a new insurance crisis or just evidence of the industry's cycle at work?
11 min read
Most operation executives would agree that web services can help insurers meet increasingly sophisticated client demands and improve client relations. Most would also agree that creating such services can be a long and complex business process. However, whatever challenges might be presented, the process does not have to be onerous. Charting a technology road map can help smooth the bumps.
The "flash and flare" of New Orleans acted as a vibrant backdrop for the 34th Annual Risk and Insurance Management Society (RIMS) Conference recently. For the society, and for its members, it became evident from the proceedings that this is a "time of action". On the legislative front, RIMS finds itself challenged to represent members with the highest levels of government in the fight for a terrorism reinsurance backstop. And for risk managers, the rapidly hardening market is challenging them to become informed and bring their message to the highest levels of the corporate structure.
7 min read
Stan twisted open the throttle on the outboard and our boat skimmed smoothly away from the dock. The lake was glassy calm in the late afternoon sun and we were anxious to pull in a couple of good walleye before it got too dark to see. Stan’s successful brokerage was in a town of some […]
8 min read
Insurers have been sowing the seeds of online technology for several years, and as some within the industry would put it, this has been in the "shopping" phase rather than the "buying" phase. The problem was, while other financial services were putting money into solutions and reaping the benefits, most particularly the banks, insurers have had little to show for their efforts. For an industry accused of lagging behind in the online race, many have been asking when will insurers start to implement online solutions, and see the fruits of their many years of research.
10 min read
Almost a year ago I attended the International Insurance Association (IIA) annual conference, which took place in Vienna, Austria. During the course of this business trip, I managed to sneak in a “city tour” of the city, which included a stop at the world-famous Prater amusement park. After having taken in the obvious sights, such […]
4 min read
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