Industry
Believe it or not, you choose your competition and playing field. You choose to compete in a specific field and with specific players. If you choose a field better known to others than yourself, you will be playing at a marked disadvantage. If you redefine the field, you naturally redefine your competition. If you allow […]
September 30, 2000
5 min read
CARSTAR's annual conference brought insurers and collision shop owners onto common ground to repair the once adversarial relationship that plagued both sides. In the name of improved customer service and hence higher profits, all agreed the time has come to forge new partnerships.
Rumors are awash in the political corridors of Ottawa that the ruling Liberal federal government is set to call an early general election, presumably riding on the recent successes achieved through the provincial health accord funding agreements. Should this be so, the consequences could prove a fatal eleventh-hour development in the workings of insurers and […]
3 min read
The Women In Insurance Cancer Crusade (WICC) held it’s 1st Annual Golf Tournament on August 25th at the prestigious Angus Glen Golf Club, north of Toronto. Over 200 executives from the insurance industry participated in the premier event, which included lunch, golf, dinner and both a silent and exciting live auction. Volunteers, sponsors and attendees […]
1 min read
Co-operators subsidiary Canadian Union has bought Newfoundland insurer Colonial Fire and General to strengthen the group’s Atlantic broker presence. Key to the deal is a firm relationship with Wedgwood Insurance Ltd., the brokerage which created Colonial, says Katherine Bardswick, chief operating officer for Canadian Union and sister company Sovereign General. Wedgewood’s portfolio is direct, and […]
Queensway Financial Holdings (TSE: QFH) is making further strides in its effort to improve operating results, as the company”s second quarter financial reports show. Net income for the quarter ending June this year amounted to $1.7 million, up dramatically from the $21.8 million loss reported for the same period last year. Net income for the […]
Claims and operating costs continue to hamper Canada’s largest private insurer, Co-operators General Insurance Company. Despite a restructuring program following last year’s dismal financial performance, Co-operators saw net income drop and claims and operating ratios rise in the second quarter of 2000 compared with the same period last year. Net income for the first six […]
Incoming Insurance Brokers Association of Ontario (IBAO) president Dan Danyluk is no stranger to “selling passion”, he says. And, in a time of intense regulatory change, e-commerce explosion and swift market shifts, he intends to sell insurers, brokers and the province on the added value the IBAO brings to the table. With aggressive goals for […]
6 min read
The insurance brokerage profession worldwide faced its biggest challenge in the late 1990s with the introduction of direct electronic selling of property and casualty insurance. This period also saw resurgence of the “financial services supermarket” concept of integrated product selling, with regulators adopting stringent licensing requirements on financial intermediaries to enhance consumer protection. Yet, despite […]
10 min read
The time for discussion is over where e-commerce is concerned, delegates to the recently held E-Strategy “Super Summit” in Toronto were told. Notions that the Internet is a “passing fad” have to be put aside, as consumer expectations push the insurance industry willingly, or unwillingly, online. Speakers at the summit caution that, those who continue […]
7 min read
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