As New York takes the first step in restricting driving and hand-held cell phones this year, a building debate is growing within Canada over safety and "dialing and driving". Although several studies seem to support increased safety risk, provincial legislators remain hamstrung over the conflicting interests of the public and the telecommunications industry.
August 31, 2001
6 min read
Rates are a hot topic in the industry these days. We have all seen the flurry of rate activity and tougher underwriting being put in place over the past several months. Yet, despite all of this action, the industry is not in a sustainable position going into 2002 and looking ahead to the years beyond.
August 31, 2001
5 min read
Your company's "employee of the month" could quickly become the defaulter of the year. What strategic measures have you taken to protect your firm against fraud?
August 31, 2001
6 min read
There has been a great deal of noise in the media about the necessary price hardening of the markets brought about by insurers' poor financial results, but it remains to be seen whether these increasing rates will translate into improved earnings anytime soon. "Given the significant underpricing over the past several years", says one study conducted by A.M. Best, "it is unlikely"
August 31, 2001
7 min read
U.S., Minnesota- based specialty risk insurer St. Paul Companies has acquired London Guarantee Insurance Co. from Canadian-based Great West Lifeco. Inc. for $125 million. The deal has boosted St. Paul to lead-ranking underwriter of surety business in Canada. The deal was closely followed by an announcement by St. Paul in the U.S. that it had […]
August 31, 2001
2 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. CASIU/ACFE Claims Fraud Seminar. Toronto, ON. Contact Penny Hill at 416-480-9475 or email acfe.toronto@sympactico.ca for details. October 2. Ottawa […]
August 31, 2001
1 min read
Ted Belton, author of “The Belton Report”, says in the latest quarterly issue that pricing cycles cannot be blamed on surplus financial capacity. Although the industry has been consistently overcapitalized for two decades, pricing has continued to fluctuate. “The driving force behind fluctuations in the availability and cost of property and casualty insurance is underwriting […]
August 31, 2001
1 min read
Quebec-based Optimum General (TSE: OGI.A) reports weak second-quarter results, despite the company’s moves to respond to poor returns in the past. Gross written premiums and net earned premiums fell, while the company’s combined ratio continues to rise. At the beginning of the year, Optimum chose to cede a higher percentage of its premiums to reinsurance […]
By Canadian Underwriter | August 10, 2001
2 min read
Aon Corporation is expanding its captive and risk management business through the purchase of Sinser Holding AB, a subsidiary of Swedish-based Skandia Group. The capitve management and consulting business deals with more than 250 captives in 10 coutries, and includes consulting and research arm Risk & Insurance Research Group (RIRG).The acquisition follows Aon’s buy out […]
By Canadian Underwriter | August 7, 2001
1 min read
Kingsway Financial Services Inc. announces that Frank Amodeo, former head of Winterthur International’s Canadian office, has joined the specialty auto insurer as its vice president.Amodeo was vice president and manager of multi-national operations for Winterthur’s Canadian branch, located in Toronto. The branch, along with other Winterthur International operations were recently sold to global risk underwriter […]
By Canadian Underwriter | August 2, 2001
1 min read