Industry
A survey conducted by the Insurance Information Institute (III) of the 250 insurance management attendees of its annually held Joint Industry Forum (JIF), which this year’s event recently took place in New York, suggests that four out of five U.S. industry executives believe that profitability within the insurance community will be stronger this year than […]
January 31, 2004
8 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
4 min read
TD Bank’s insurance arm, Meloche Monnex, has acquired the Canadian personal lines book of Liberty Mutual, a subsidiary of the Boston-based Liberty Group. The terms of the deal were not disclosed. Meloche Monnex, which sells personal home and auto insurance as TD Insurance Home and Auto as well as under its own name, will as […]
2 min read
Fairfax’s Fairmont Specialty Group Inc. – which includes the remaining business of former subsidiaries TIG Insurance Group and Ranger Insurance Group – says U.S. regulators have given a “thumbs up” to the company’s structure and capitalization. The announcement prompted rating agency A.M. Best to place under review with developing implications the financial strength ratings of […]
1 min read
The Insurance Brokers Association of Canada (IBAC) kicked off its annual BIP advertising campaign last month at the Canadian National Figure Skating Championships. The well-received “Blanket-Anthem” television spots will run from January 5 to the end of May 2004 on a variety of shows in both English and French. “The more frequently the logo appears […]
3 min read
When David Patrick took over the top spot at the Centre for Study of Insurance Operations (CSIO) eight months ago, it was an organization in need of an overhaul. Its major undertaking, the internet portal to link brokers and insurers, was over budget and off track. But, Patrick relishes the role of the "turnaround artist" and says with the renewed support of all within the insurance industry, the CSIO portal will become reality.
6 min read
In his annual “state of the province” address, New Brunswick Premier Bernard Lord took a shot at auto insurers and hinted at further reforms to come for the province’s system. While Lord noted that almost $23 million in rebates have been handed out to New Brunswick drivers since last summer, he says, “Insurance companies are […]
Say the word "fraud" and insurers shake in their boots. Of the host of financial challenges facing the insurance industry today, fraud ranks as perhaps the most menacing. However, new technologies may provide a solution to beat back the "fraud monster" - if the industry stakeholders are willing to join together to create integrated systems.
5 min read
Insurers have come out in favor of Ontario’s new auto insurance reforms. The McGuinty Liberals had promised legislative reforms after freezing rates shortly after taking office in October. Although the latest product reforms mean the end of the rate freeze, auto insurers were also required to file new, lower rates by January 23. Insurers say […]
The Law Society of Upper Canada (LSUC) has signed an agreement in principle to regulate Ontario’s paralegals, a move that is drawing praise from the Ontario Bar Association (OBA).Paralegals, speaking through the Professional Paralegals Association of Ontario (PPAO) and the Paralegal Society of Ontario (PSO), have been publicly against the LSUC acting as the regulatory […]
By Canadian Underwriter | January 30, 2004
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