Risk

Hurricane Lili damage less than anticipated: RMS

Hurricane Lili will not be the insurance loss originally feared, predicts California-based Risk Management Solutions.Originally, when Lili was a category 4 hurricane, 24 hours before landfall, the company’s probability system at www.riskonline.com had predicted mean losses of US$3.2 billion. There was also a 20% probability of losses below US$1 billion at that time.Now, though, Lili […]

By Canadian Underwriter | October 4, 2002

1 min read

Event Planning: Anticipate Everything!

It was already difficult for organizers to get liability coverage for public events before September last year – now more so than ever. Insurers are retrenching and the liability coverage required for outdoor events has been difficult to source. Motor sports, air shows, parades and festival types of events have particularly high risks for liability […]

September 30, 2002

4 min read

Brokers Facing Exit Signs

If you are the owner or principal shareholder of a company such as an agency or brokerage, you likely put your energies into dealing with day-to-day issues and growing the business. However, you need to recognize that you will exit the business at some point, and this means investing time now in making sure that process happens smoothly.

September 30, 2002

6 min read

Captives Gain New Shine

Soaring commercial insurance rates post-9/11 have triggered what many risk analysts believe will be the biggest withdrawal of premium from traditional coverage ever seen - exceeding the retreat of billions of dollars brought on by the liability crisis of the mid-1980s. And, similar to the commercial exodus from insurance brought on by the liability crisis, insureds are being forced to look at self-insurance options not only as a result of cost, but severe cutbacks by insurers in terms of cover and capacity across nearly all lines of business. As a result, alternative risk transfer (ART) is expected to account for about half of all U.S. commercial risk dollars by the end of 2003, according to A.M. Best. As part of this drive, the rating agency predicts record growth in the formation of captives for this year through to 2004. Is Canada following this global trend? Specialty risk solution experts CU spoke to say it is already happening.

September 30, 2002

8 min read