Coming Events (June 01, 2000)

The Export Development Corporation (EDC) has earmarked $1 million over three years for an International Studies Scholarship, to be administered by the Association of Universities and Colleges of Canada. Undergraduate students pursuing degrees in business or economics focussing on international business, relations or finance will be eligible for $3000 scholarships and co-op employment opportunities with EDC. Graduate students will also become eligible for the scholarships in 2001. “This initiative demonstrates EDC’s commitment to supporting Canada’s young people whose enthusiasm, creativity and passion will shape the international business landscape of the future,” says EDC president and CEO, Ian Gillespie.

Royal & SunAlliance Insurance Group of Canada and Unifund Assurance Company have been given a financial strength rating of A+ (superior) by the A.M. Best Company, the second highest rating possible. The strong showing of the companies, which represent R&SA’s non-life Canadian operations, is based on the their consistent overall profitability, strong underwriting leverage, sound liquidity and adequate reserves, according to A.M Best. The comprehensive product range and multiple distribution channel approach, which resulted in controlled net premium growth, were cited as factors in the companies’ success. R&SA’s life insurance company was also given a rating of A (excellent) by A.M. Best, based in part on the success of its segregated funds, supported by good investment performance, competitive guarantees, increased fund offerings and excellent customer service.

Lloyd’s of London is introducing insurance coverage to help North American companies protect shareholders from hostile takeovers. Companies covered by the option will be reimbursed for direct costs associated with a takeover, such as attorneys, advertising and proxy solicitation. Mergers and acquisitions in Canada last year were valued at $177 billion, notes Lloyd’s chairman Max Taylor, but one in eight mergers fails, leaving targeted companies to count the costs.

Broker automation systems vendor The Agency Manager recently announced it will change its name to Applied Systems Canada, Inc. The change reflects the company’s desire to be known as ‘a total solutions provider’, and comes during preparations for the launch of new products and services, including Vision, WARP Central and web-based training. The Applied Systems name will be seen in a new logo with the tagline “The power to make you more profitable”.

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.

Insurance Brokers Association of BC Annual Meeting. Whistler Conference Centre, Whistler, BC. Contact Rebecca Magallanes at 604-606-8002 for more information. June 14 to 17.

Insurance Marketing Communications Association Summer Meeting. Hilton Resort, Hilton Head, SC. Call Bill Hadley at 480-443-8860 for details. June 25 to 28.

Barrie and District Insurance Brokers Association Annual Golf Tournament. Bear Creek Golf Club, Utopia, ON. To register call Randy Spenceley or Amanda Preston at 705-726-2551. June 26.

International Insurance Society, Inc. Annual Seminar. Vancouver, BC. For further information call 212-515-9291. July 9 to 12.

Property and Casualty Claims Management Conference. Toronto, ON. For more information call 1-800-941-9403. July 10 to 12.

I-Car 2000 International Annual Meeting. Toronto, ON. Call 1-800-565-4227 for more information. July 27 to 30.

Insurance Brokers Association of Canada Annual Meeting. Fredericton, NB. Call 416-367-1831 to find out more. September 14 to 16.

Canadian Insurance Accountants Association Annual Conference. Victoria, BC. Contact Jim Abernathy at 416-868-2545 for details. September 17 to 19.

Canadian Independent Adjusters Association Conference. Edmonton, AB. For further information call 416-621-6222. September 28 to 30.