Risk

Decorative pattern

Atlantic Auto Reform: A Farce?

A year after "The Atlantic Canada Insurance Harmonization Task Force" released its report, it remains unclear to whether it was actually read, never mind understood, by some of the provincial premiers. Today, notwithstanding the clarity of the report, the environment in some of the Atlantic provinces remains overly-politicized and hostile, with draconian and ill-conceived government edicts that were likely figured out over a take-out pizza. As Premier Williams would say: "It's a farce."

September 30, 2004

6 min read

Seeking Shelter

Hurricanes in focus

September 30, 2004

5 min read

Decorative pattern

Managing Customer Relations

Insurance is about relationships - or so we are told. Customer relationship management (CRM) has become a catch-phrase in service-intensive industries like insurance. But, how much effort do brokers really put into the reason they are in business in the first place: the customer?

September 30, 2004

5 min read

Decorative pattern

Going, Going . . .GONE!

North Americans live for their vehicles. It is therefore difficult to imagine functioning without our precious cars and sport utility vehicles (SUVs). Our "four wheel culture" has, however, created a growing social problem - auto theft. Can auto theft prevention keep up with the increasing sophistication of car thieves?

September 30, 2004

5 min read

Decorative pattern

Market Stability…?

Is there cause to believe that the North American property and casualty insurance marketplace has achieved stability? The latest insurance industry financial numbers from the U.S., produced by rating agency A.M. Best, suggests that insurers down south have “pulled the rabbit from the hat” similar to their Canadian cousins in terms of a rapid profit […]

September 30, 2004

4 min read

Latest Hurricane Salvo Tests Historical Loss Records

Hurricane Jeanne, which slammed into Florida’s east-coast the last weekend of September, made unfortunate history, capping off the first season in which Florida was hit by four major hurricanes. The combined losses from Hurricane Charley in mid-August, and then Hurricanes Frances, Ivan and Jeanne in September, will make this easily the worst year for insurance […]

September 30, 2004

2 min read

Decorative pattern

Reinsurance Rating Environment Improving

Rating agency Moody’s says it has revised its outlook on the global reinsurance market to “stable” from “negative” on the back of favorable underwriting and investment results emerging from the sector. While rating agencies have mostly issued rating downgrades for reinsurers over the past two years, Moody’s says the ratings environment for the sector should […]

September 30, 2004

2 min read

Fragile Market

Despite insurer and reinsurer CEOs' calls for a continuation of market pricing discipline that has characterized commercial lines for the past three years, all indicators suggest that a new "soft market" may have taken hold of the insurance industry, speakers at a seminar recently held by the Ontario chapter of RIMS Canada (ORIMS) say. Price competition is setting in across all lines, with rates moving quickly from flat to decreasing. And, while commercial insurance buyers may be tempted by the promise of lower premiums, speakers caution that this may a case of "too much, too soon".

September 30, 2004

5 min read

Decorative pattern

The “E-Biz” Bandwagon

Thanks, Dave and Brian. That was a good presentation. Our members appreciated it,” Al said. I smiled at him, grateful that the presentation had gone down so well. Al, who in addition to running his own highly automated and successful brokerage, was also the current president of his local independent brokers’ association. The association had […]

September 30, 2004

10 min read

Decorative pattern

Reinsurance “Recoverables” Become Less Significant

The global issue of “reinsurance recoverables” appears to have become less of a concern over the course of 2003, according to report just released by rating agency, Fitch Ratings. The report, which takes in results from 1998-2003, finds the industry’s exposure to reinsurance grew much less over 2003 than in the previous five years. Overall, […]

September 30, 2004

2 min read

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