Risk
U.S. general insurers will spend slightly more on information technology (IT) in 2004, but funding will be limited and focused, says research and consulting firm TowerGroup.In its annual forecast, the consultant says the industry faces similar challenges to the life and annuity business in terms of using technology for customer service, distribution and operational efficiency.Among […]
By Canadian Underwriter | January 13, 2004
1 min read
International broker Jardine Lloyd Thompson says commercial clients should prepare themselves for further increases in liability rates this year as insurers continue to repair balancesheets and shy away from long-tail exposures.In its annual “state of the market” report, JLT says that lines such as directors’ and officers’ (D&O), medical malpractice, employment and products liability will […]
By Canadian Underwriter | January 6, 2004
2 min read
Sinclair-Cockburn Financial Group has named Nadia Romano as personal lines manager, capitalizing on more than 20 years of insurance industry experience, including two years on the firm’s senior management team. Adjuster Cunningham Lindsey Canada Ltd. announces vice president, operations Lorri Fredericks, now has management responsibilities over a segment of Ontario operations, including having staff at […]
December 31, 2003
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
4 min read
Canada's Personal Information Protection and Electronic Documents Act (PIPEDA) has generated controversy on several fronts, with some arguing that private sector companies are woefully unprepared, while others accuse lawyers and consultants of scare-mongering. A legal challenge from Quebec in late December on PIPEDA's constitutionality only adds to the confusion. While many support the principles of the legislation, several point out that ambiguities in its practical application will have to be navigated carefully - or interpreted by the courts.
10 min read
Although statistics show that deaths as a result of fires are on the decline, insurers are still vexed by costly property losses. Can these losses be avoided or minimized?
5 min read
To say auto insurance in Ontario is at a crossroads would be an understatement. Ontario recently introduced new auto insurance regulations, which were in "effect" for just a single day before a new political party began governing the province. Subsequently, the Financial Services Commission of Ontario (FSCO) brought in a new roster of medical and rehabilitation DACs, thus adding to the growing regulatory confusion surrounding the province's auto product.
The Canadian property and casualty insurance industry saw its net profit for the third quarter of this year fall by 20% to $517 million compared with the previous quarter’s $644 million. The biggest single cost impact incurred by insurers during the latest quarterly reporting period resulted from claims arising from the B.C. fires (now regarded […]
3 min read
Some years ago, I visited a commercial client to review his cover prior to renewal. I could tell that his mind was not fully attentive to matters I was discussing with him. He then turned to me and posed an alarming question: “why are we wasting time doing this, because when something happens, and we […]
The 2003 recipient of the CIP Society’s Fellow of Distinction Award for the GTA is Carolyn Walsh, a partner at CCV Insurance and Financial Services Inc. She has served the Insurance Institutes for over 10 years, is a past president of the former Toronto Society of Fellows, and chair of the CIP Society Charity Gala. […]
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