Industry
With the recent approval of federal and provincial laws paving the way for the development of e-commerce, property and casualty insurance regulators in Canada face the tough decision of whether or not online buyers need the extent of “hand holding” that has traditionally been applied to consumer insurance purchases. Despite the new legislative offerings which […]
February 28, 2001
9 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. Women in Insurance Cancer Crusade Dinner. Toronto, ON. Contact Paula Driver-Chiccanti at 416-756-8464 for details. March 28. Insurance Bureau […]
2 min read
Companies who fail to put proper financial controls in place could be paying the price, says John Doran, assistant superintendent, supervision sector, of the Office of the Superintendent of Financial Institutions (OSFI). In a speech to the Canadian Insurance Accountants Association recently, Doran said that the government regulator needs to look at ways to control […]
1 min read
Following an announcement of a major market “modernization restructuring” toward the end of last year, Lloyd’s of London has adopted two tough stands to ensure a more speedy flow of premiums collected as well as tighten up on shoddy regulatory management of syndicates. David Gittings, who heads up Lloyd’s regulation department, says that, in line […]
The St. Paul’s company has appointed Bob Fellows president and general manager of St. Paul Canada. Fellows brings 20 years industry experience to the position, most recently leading Royal & SunAlliance’s Financial Solutions venture. Lloyd’s of London has named Nicholas Smith as attorney in fact in Canada for its Canadian underwriters, succeeding Mark J. Oppenheim […]
CGU Canada is making several organizational changes effective June 1, including the appointment of Igal Mayer as president and CEO of CGU Canada. He was formerly finance director for Norwich Union Insurance and replaces Mark Webb. Webb has been named managing director Europe for CGNU. Richard Harvey will become group chief executive for CGNU, effective […]
January 31, 2001
The brave new world of the Internet brought a scope of accessibility never before experienced. And, just as insurers are beginning to grasp all that the Internet has to offer, the digital world is opening even more doorways with the advent of wireless technology. As companies push customer service as a marketplace “differentiator”, the use […]
5 min read
Just before Christmas, the Supreme Court of Canada heard argument in the case of Whiten v. Pilot. The original trial jury heard evidence that lead them to conclude that Pilot acted in bad faith against its insured Whiten and awarded punitive damages of $1 million against the insurance company. Insurers now await the result of […]
Lloyd’s of London has risen its 2001 writing capacity by 10% over last year to US$16.6 billion. This is the largest year-on-year increase the market has seen since 1993/4, according to a media statement. “The growth in Lloyd’s capacity indicates growing confidence in the market’s performance, and clear evidence of hardening rates in many lines […]
The final results released by StatsCan on the performance of the Canadian property and casualty insurance industry through to the end of the second quarter of last year removes any doubt that the market has entered into a broad price hardening, says Ted Belton in the latest issue of the Belton Report. “There is now […]
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