Risk
At a time when chrome bumpers and flimsy seatbelts characterized cars, which lacked safety features such as air bags, it was the crash test dummy that taught auto safety repercussions 101. The lesson of the "Fatal Seven-Tenths" - what happens immediately before a car moving 55 miles/hour slams into a tree - resulted. Today, modern technology strives to control the potential risk of serious injury or death from auto accidents. However, are they able to stay at the head of their class and predict the answers of auto accidents?
July 31, 2005
7 min read
Failures extend far beyond loosing face - in the U.S. failure has served insurers a bill of US$8 billion, a "tab" accumulated over the past three years. A record number of Canadian insurers were also vulnerable over this period. Although strengthening capital and loss reserves are addressing solvency concerns, the risk of insolvency remains elevated. In response industry guarantee funds (like PACICC) are working to improve financial and operational preparedness.
5 min read
The wrath of the hard insurance market in Canada did not cause a “big bang” in alternative risk transfer (ART); it evoked a “whimper” of tire-kicking over non-traditional solutions. Yes, there were companies that increased self-insurance retentions, reviewed limits and even participated in “cell” captives or “rent a captives,” but the anticipated flurry of activity […]
3 min read
Underwriters and accountants will have many opportunities to advise companies in interpreting and implementing the Sarbanes-Oxley Act, but they should be aware of the increased exposure to risk, according to information recently revealed at the PLUS E&O Symposium. Douglas Carmichael, chief auditor, Public Company Accounting Oversight Board, reviewed the requirements of the Act and the […]
2 min read
Almost immediately after London’s deadly terrorist bombings, Canada’s 24-hour emergency preparedness system kicked into effect and worked as intended. However, in a recent speech at an international conference on disaster management, federal public safety Minister Anne McLellan also highlighted the need to ensure close collaboration between mass transit systems and shore up training for security […]
Insurance Industry ‘Competes For A Cure’ at WICC Ontario 6th Annual Golf Tournament The Women in Insurance Cancer Crusade (WICC) Ontario Chapter teed up for its 6th Annual golf tournament at Angus Glen Golf Club in July, to raise funds for research and education in the fight against cancer. This year’s tournament drew the largest […]
Bad weather driving conditions result in a 70% increased risk of injury-related auto collisions between urban Canadian drivers, according to a report recently released by the Institute for Catastrophic Loss Reduction (ICLR). Presented by Jean Andrey, associate dean of geography at the University of Waterloo, the report – “Toward a National Assessment of the Travel […]
Enterprise risk management is increasingly important as a tool to analyze and confront risks with 91% of risk management executives approximately 247 of the 271 surveyed by the Conference Board and risk management consulting firm Mercer Oliver Wyman inclined toward accepting ERM or actively preparing, developing or implementing the practice. While the practice has gained […]
By Canadian Underwriter | July 29, 2005
1 min read
Many women business owners are willing to take substantial risks to ensure the success of their business, according to a new study from the Center for Women’s Business Research underwritten by Wells Fargo. “Women Entrepreneurs Savvy About Risk,” says women business owners are much more willing to take risks in running their businesses than in […]
By Canadian Underwriter | July 28, 2005
Public donations to the Traffic Injury Research Foundation (TIRF) will be facilitated by all 600 LCBO stores throughout Ontario from Aug. 1 until Aug. 31, 2005.TIRF founded in 1964 is set to reduce traffic-related deaths and injuries by promoting and implementing effective research-based programs and policies, which largely focus on the problem of drinking and […]
By Canadian Underwriter | July 27, 2005
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