Risk

A New Approach?

At the recent Insurance Bureau of Canada (IBC) "Regulatory Affairs Symposium", which was held in Toronto, the speakers were asked to provide their perspective on recommendations put forward by former regulators and industry members on a new system of market conduct regulation in Canada. A move in this direction would significantly reduce the current "red tape" overload on insurers.

October 31, 2003

5 min read

Reserve Boosting Undermines Kingsway’s 3-Q Earnings

Specialty risk insurer Kingsway Financial Services Inc. (TSX: KFS) saw net income for the third quarter of this year drop by 28% to $15.6 million compared with the $21.7 million reported for the same period in 2002. This equates to diluted earnings of 28 a share for the latest quarterly reporting period versus the 44 […]

October 31, 2003

2 min read

Fitch predicts California blazes could be worst ever

Rating agency Fitch says the wildfires that continue to rage in areas of California could amount to the worst insured loss ever from wildfires. This means the damage would have to top US$1.7 billion (US$2.2 billion in 2003 dollars), the insured loss from the 1991 wildfires in the Oakland Hills area of California.While it is […]

By Canadian Underwriter | October 31, 2003

1 min read

Truckers up in arms over rate increases

The Canadian Trucking Alliance is speaking out against successive rate increases over the past several years, which it says show no signs of abating.”We are in our third year of escalating insurance costs and it is hard to see much light at the end of the tunnel,” says David Bradley, CEO of the CTA. The […]

By Canadian Underwriter | October 30, 2003

1 min read