Industry
In the July 2002 CU article “Rates Keep On Trucking”, it stated that AXA Canada has withdrawn from trucking coverage. The company still writes for trucks of 9 power units or less.
September 30, 2002
1 min read
To celebrate our 75th year in business, my insurance company had staged a special anniversary party at our head-office. There had been an open bar, mounds of hot finger food, plus a few mercifully short speeches. Some of our leading brokers, independent adjusters, lawyers, and other friends of the company had come along and said […]
9 min read
The power of the broker lobby force has been evident in the ongoing bid to keep banks from selling insurance through their branches. Now, in a trying Ontario auto market where capacity is scarce and prices hardening, brokers are again being asked to make their voices heard. Incoming Insurance Brokers Association of Ontario (IBAO) president Jim Hawryluk will be among those leading the charge as brokers join insurers in encouraging legislative reform of the Ontario auto product.
5 min read
While British Columbia escaped much of the auto underwriting hardships experienced by many of the other provinces, impact of the "hard market" has definitely been felt - which has kept brokers busy. The province's brokers also await the outcome of the B.C. government's decision regarding deregulation of the basic auto product.
4 min read
The theme from panelists at a recent insurance conference in Toronto was clear - it's all about execution in today's tough marketplace. It was a message that even keynote speaker Rob Sampson warmed up to.
At the recently held Insurance Brokers Association of Canada (IBAC) AGM, newly elected president Brian Gilbert used a humorous analogy between the geography of his home province, Manitoba, in outlining the association’s long-term political cause to protect the legislative rights of the independent brokerage community: “As brokers, we have made it clear to politicians for […]
3 min read
Despite an encouraging half-year financial return, The Co-operators General Insurance Co. (TSX: CCS.PR.A) saw its net income drop for the second quarter reporting period as claims costs rose. The company’s net income fell to $7 million for the quarter ending June compared with the $11.5 million reported for the same period a year earlier. This […]
2 min read
Toronto-based Goran Capital Inc. (TSX: GNC) came home with a disappointing performance for the second quarter of 2002. For the three months of the company’s financial year to end June, Goran suffered a net loss of $8.4 million, worse than the $6.1 million loss from last year’s second quarter. The latest loss amounted to 155 […]
Second-quarter results for Western Financial Service (TSX: WES), formerly Hi-Alta Capital, are on track to hit the company’s yearend targets. Revenue is up 21.4% for the quarter ending June 2002 to $7.6 million, versus $6.2 million for the same period a year earlier. Net income rose to $477,662 for the most recent quarter compared to […]
Lorie J. Guthrie Phair has been named president and CEO of brokerage Hargraft Schofield Inc. based in Toronto. Guthrie Phair operated her own family brokerage for 20 years, is a past president of RIBO and past president of the IBTR. Kingsway Financial has named John McGlynn as a vice president working on financial control and […]
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