Risk

Royal & SunAlliance scales back in U.S., remains in Canada

As part of further restructuring for U.K. insurance giant Royal & SunAlliance Insurance Group, the company says it remains committed to Canada, despite a decision to all but exit the U.S. market.The company’s standard personal lines and most of its commercial business in the U.S. is being taken over by Travelers. The company says it […]

By Canadian Underwriter | September 4, 2003

2 min read

Federation withdraws from Newfoundland on auto insurance proposals

Proposals by the Newfoundland government to change that province’s auto insurance system are the cause of Federation Insurance Co. of Canada’s decision to stop writing personal lines in that province, the company says.In a media release, the company says it will stop writing new business in both auto and homeowners, and discontinue renewals as of […]

By Canadian Underwriter | September 4, 2003

2 min read

Curtain Call? On The Hard Market

Waiting in the wings like nervous actors on opening night, risk managers are preparing for the upcoming insurance renewal season, unsure of the reception before them. Over recent years they have received a less than warm greeting from underwriters. But, recent surveys of the commercial insurance marketplace suggest that there may well be a "turning point" near - or at the least a "moderation" of the hard market which has dictated pricing for the last two years. However, CU's annual roundup of Canadian risk management views indicates that the hard market is far from over, although its intensity has shifted from property to casualty/liability lines. And, in light of recent catastrophes from SARS to the "blackout of 2003", the pressure from corporate boardrooms has increased on risk managers.

August 31, 2003

10 min read

Aligning Sources & Exposures

From newspaper headlines to the corporate boardroom, risk management is becoming a high profile proposition. As companies react to stories of corporate scandals and multi-million-dollar lawsuits, how does this align with the long-term risks facing corporations daily. A recent study compared the views of risk managers and financial executives on the greatest threats to their corporations, as well as the best means of addressing these threats.

August 31, 2003

5 min read