Risk
As Nancy Chambers gears up for her term as president of the Risk and Insurance Management Society (RIMS), she knows risk managers are in the midst of a difficult insurance market and increasing expectations from the highest corporate levels. Chambers follows a long line of Canadian RIMS presidents and says she will build on the successes of the past to forge new channels of communication for risk managers and their partners.
February 29, 2004
6 min read
Suicide bombings in Baghdad continue to see a rising toll in deaths of “reconstruction” foreign workers and military personnel…Ongoing conflict between Palestinians and Israelis continues to produce reprisal acts of violence…A coup de tat in Haiti results in mass civil unrest…A previously unheard of terrorist organization in France plants bombs on the country’s major railway […]
8 min read
Sexual Abuse in the Church Under Scrutiny; Vicarious liability is the startling legal concept that someone can be held liable for a third party's injuries when they were not actively involved in the incident that caused the damages. Parties sued for vicarious liability are generally, but are not always in a supervisory position over the person who would ordinarily be personally responsible.
While many insurers have written food-processing risks with a lenient attitude - with an eye cast at the food processing industry's historically attractive underwriting result - warning lights are now beginning to blink, suggesting that litigation involving the entire food processing enterprise, both animal and human, may be the next big thing in long-tail product liability.
7 min read
Premium hikes and availability issues have prompted the Canadian Federation of Independent Business to call for a federal review of the property and casualty insurance industry. But, insurers and brokers say solutions for small businesses should be market-driven, not political. They also contend that the market is working.
10 min read
One of the most important trends to have evolved in the insurance industry is the use of outsourcing to reduce costs and improve the quality of service to customers. Most insurers have already reduced their costs as much as possible. However, the use of outsourcing, particularly to offshore low-cost jurisdictions, is rapidly becoming unavoidable in order to remain competitive in the insurance industry.
4 min read
Insurers and their commercial clients are paying out too much on claims that could be defended, speakers warned at a recent seminar hosted by Crawford Adjusters Canada Ltd. “I’m darned tired of seeing these companies and insurers kicked around by claims they shouldn’t have to pay,” says Owen Smith, a defense lawyer and president of […]
2 min read
A review of the 2004 reinsurance treaty renewal season shows primary insurers are looking at diversifying their spread of reinsurance, as well as focusing on reinsurer security ratings. Reinsurers, for their part, are looking for transparency from their primary company clients, in order to ensure the profitability demanded by investors.So says Aon’s latest report, “Reinsurance […]
By Canadian Underwriter | February 26, 2004
Insurers are proposing a “no frills” auto policy as a respond to growing public outrage about auto rates in New Brunswick.In a release Tuesday, the Insurance Bureau of Canada (IBC) explains the policy will provide the basic liability coverage required by law and allow customers to choose options beyond this minimum. The proposal has been […]
By Canadian Underwriter | February 25, 2004
U.S. insurers are fighting back in the credit scoring debate, releasing their own analysis to criticize a recent report by the Missouri Department of Insurance (MDOI). The MDOI study found that low income and minority groups were negatively impacted by credit scoring a practice used by large U.S. insurers where a person’s credit history is […]
By Canadian Underwriter | February 24, 2004
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