Risk
With the rising trend of North American natural catastrophe losses, a great deal of attention is being turned to the development of computer simulated cat risk programs. Cat risk models are hardly a new technological advancement for the insurance industry, they have been around since the devastation inflicted on the industry by Hurricane Andrew. Forced […]
By Sean van Zyl, Editor | May 31, 1999
3 min read
Dear Editor, You are to be complimented on an excellent feature article, in the April Underwriter, on the threat posed by the big banks. The Independent Life Insurance Brokers of Canada have many members who also hold a p&c license. We are all brothers and sisters-in-arms in our fight against the intrusion of the banks […]
May 31, 1999
7 min read
The CICMA and CIAA 99 Joint Conference – held in Toronto in February – focused on the competitive challenges reshaping the p&c insurance industry. The overall message delivered at the event was clear: the process of industry change, mainly as a result of merger and acquisitional activity, is far from over with the effects being […]
By Sean van Zyl, Editor | March 31, 1999
6 min read
Property & casualty insurance is a pure risk product that must be kept separate from the financial, wealth management and investment-based services provided by life insurers and banks, George Cooke, president of Dominion of Canada General Insurance Company, told a Toronto Board of Trade breakfast recently. Cooke, advocating banks not be allowed to retail insurance […]
March 31, 1999
2 min read
Lindsey Morden Claims Services Ltd. has officially changed its name to Cunningham Lindsey Canada Ltd., a move to harmonize the company’s identity worldwide. “As a large, strong global company, sharing this common identity amongst our claims and risk management services illustrates our ability to provide seamless, consistent service around the world,” says Ken Polley, president […]
1 min read
Exel Ltd. Mid Ocean Ltd. ACE Ltd. Cat Ltd. Partner Re Ltd Winterthur Re Gerling Constitution Re As we peer into 1999, one clear fact emerges from our review of the finances of the reinsurance industry: this is a great buyer’s market with abundant capacity and declining prices.- Swiss Re Life Re Corp. Employers Reinsurance […]
By Sean Mooney, senior vice president at Guy Carpenter & Company In | March 31, 1999
Despite plummeting international commodity values — which over the last decade have made mining equities less than the darlings of stock markets — the Canadian mining industry is expanding at a healthy clip. It is estimated that 100 new mines will have opened in Canada between 1997 and 2000, with Canadian mining companies spending more […]
By Ken Fedosen and Eugene Iacob of Zurich Global Energy | March 31, 1999
Intense competition, increasing litigation and the rising cost of claims is decreasing profitability in directors and officers (D&O) liability insurance market, a panel of executives told the D&O Liability and Issues Symposium sponsored by the Professional Liability Underwriting Society (PLUS). John Cavoores, president of National Union Fire Insurance Company, warns that growing competition in the […]
In January, more than two hundred of the world’s leading scientists met in Geneva to discuss what we should do about our changing weather. This gathering is part of an even larger working group that has been making steady research progress for more than ten years. But as each new storm passes, it reminds us […]
By Paul Kovacs, executive director, Institute for Catastrophic Loss | March 31, 1999
Reduced profitability, rising underwriting losses, increased competition and higher technology costs are likely to form the stage for the North American property and casualty insurance industry in 1999, according to the vast majority of respondents in an Insurance Information Institute (III) survey conducted at the annually held Joint Industry Forum which recently took place in New York City.
By Lowell Conn and Sean Van Zyl | February 28, 1999
4 min read
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