Insurance & Risk, Analysis, Events and Careers
The tragic and unexpected events which unfolded on September 11 of this year when terrorists attacked the World Trade Center, New York City, and the Pentagon in Washington D.C. by using four hijacked jetliners as “flying bombs” has left the world dumbfounded. At first, the horror as news of the travesty swept across global news […]
September 30, 2001
3 min read
The North American financial services landscape has changed dramatically in the last ten years. Recent legislation in both Canada and in the U.S. has helped to pave the way for industry convergence, with some believing that new, "one stop shop" financial supermarkets will emerge where the four pillars of the banking, insurance, securities and trust sectors once stood. Is it time for property and casualty brokers to think seriously about offering new products to their clients?
September 30, 2001
9 min read
As one of the “founding fathers” of the developing broker/company portal, incoming Insurance Brokers Association of Ontario (IBAO) president Danny Craig is confident the year ahead will be a time of massive, positive change for the industry. The association, he says, is putting the portal front and center in its plans for the future. But […]
September 30, 2001
6 min read
The Risk and Insurance Management Society (RIMS) is taking its mandate to the masses, planning to broaden its reach beyond the risk management profession. In an interview at the Canadian Risk and Insurance Management Society (CRIMS) Conference in Ottawa recently, RIMS executive director Jack Hampton (pictured) says the organization will be looking to educate “enterprise […]
September 30, 2001
2 min read
While the impact that the terrorist attacks will have on the international insurance and reinsurance industry will not be fully known for many years, the effect on aviation covers was almost instantaneous.
September 30, 2001
9 min read
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. North American Insurance Conference. St. Pete’s Beach, FL. For conference information contact Lizann Star at 905-206-1644. November 3 to […]
September 30, 2001
1 min read
With the seven-year term of current superintendent John Palmer coming to a close, Nicholas LePan will become the government’s top watchdog of financial institutions. Formerly deputy superintendent, Le Pan will become head of the Office of the Superintendent of Financial Institutions (OSFI) for a similar seven-year term. Among Le Pan’s responsibilities will be overseeing the […]
September 30, 2001
1 min read
Chubb CEO Dean O’Hare was among insurance representatives speaking to Congress this week on the need for an insurance pool to cover terrorism risks moving into the future. In light of the recent terrorist attacks on the World Trade Center and the Pentagon, insurers fear a withdrawal of reinsurance coverage could make it impossible for […]
By Canadian Underwriter | September 27, 2001
2 min read
With the sharp rise in property related insurance losses, particularly on personal auto which by far accounts for the lion's share of premiums in Canada, many insurers have shown renewed interest in commercial liability lines. Recent acquisitions have resulted in specialty operators with dominating interests in specific liability classes, while some of the major general underwriters have created dedicated liability risk departments with the intent of pursuing new business. But, while the commercial liability landscape may appear at this point to be more inviting than the "dog eat dog" competitive environment on the property side, some within the industry believe that the "tail" of liability coverages will eventually sweep back in the faces of Canadian insurers similar to the adverse developments underway in the U.S. market.
August 31, 2001
10 min read
In 1928, while working on the influenza virus, Alexander Fleming observed that mold had developed accidentally on a staphylococcus culture plate and that it had created a bacteria-free circle around itself. He was inspired to further experiment and later found that a mold culture prevented growth of staphylococci, even when diluted 800 times. He named the active substance penicillin. And the rest, as they say, is history.
August 31, 2001
7 min read