Risk

Rates Keep on Trucking

Trucking companies, taxi operators and large private fleets are feeling the squeeze of the hard market, with shrinking capacity, increasing rates and restrictive terms and conditions. And, feedback from insurers suggests that there is little relief on the horizon.

June 30, 2002

9 min read

U.S. insurers show life signs in first quarter

The U.S. property and casualty insurance industry displayed signs of a rebound in the first quarter of 2002, producing a 6.9% return on equity (ROE) following its worst ever year in 2001. Coming off a negative 2.7% ROE for last year, insurers began to turn the tide on underwriting, if not on the investment side. […]

June 30, 2002

2 min read

Cover Story: Canadian Reinsurers: Burn Point

Despite the significant rate increases implemented through 2002 renewals, few canadian reinsurers expect this year will produce a desperately needed profit recovery. With several of the major as well as small players on the global stage having recently been downgraded by financial rating agencies, and the parent owners of some of these operations having seemingly lost their appetite for the reinsurance business, market watchers are predicting a new wave of consolidation within the sector. While this pressure has already resulted in global head-office management shakeouts, the burn point seems to be tuning toward local senior managers as the market shifts into full drive in the race for profitability. This may be a hard market, but will the existing players and their senior management survive to see it through?

June 30, 2002

12 min read

Canadian Insurance Congress 2002: Spotlight on Efficiency

While conditions for the North American economy and the property and casualty insurance industry now appear more favorable than the experience of the past two years, carriers at both the primary and reinsurance levels still face tough times with 2002 likely to produce yet another year of disappointing financial returns, say speakers at this year's Canadian Insurance Congress. Despite the recent firming of prices across nearly all lines of business, Canadian insurers remain bedeviled by runaway claims costs which can only be curtailed through product reform.

June 30, 2002

9 min read