Industry
Over the last several years, the Canadian financial landscape has shifted. In the past, financial services regulation was based on the concept of the traditional “four pillars”. Changes in the marketplace have occurred across geographic, sectoral and jurisdictional boundaries and have caused these pillars to blur. On top of this, the use of new information-based […]
September 30, 2000
5 min read
Insurance regulation is required to protect the interests of consumers. As our industry evolves, calls for common standards and a ‘level playing field’ for the industry continue. When considering changes and new regulatory structures, I believe we would be well served to look at RIBO, its growth and successes as a model for future regulation. […]
6 min read
Forensic investigation is hardly an unknown field to the insurance industry. However, an area that seems to garner little attention in claim investigation procedures is forensic entomology -- which could save insurers and insureds millions of dollars. Bug investigations? You have to be kidding. But, as the following case study reveals, insects can reveal many secrets in the process of claims investigation.
For many years the independent insurance distribution system has longed for a single entry multiple company interface to compete more effectively with direct distribution. The independent system brings many valuable assets to the insurer. Customer knowledge, quality and loyalty, product knowledge, market selection, and professional representation are just a few of the advantages that this […]
2 min read
ING Canada emerged the victor in the longstanding bidding process to acquire broker network consolidator Equisure Financial Network (TSE:EFN). The deal was recently closed at a $7 a share cash offer, pegging the overall value at around $160 million. Subject to regulatory approval, the deal also depends on whether Equisure shareholders are willing to tender […]
With the recent announcement that HSB Group Inc., parent company of the Boiler Inspection and Insurance Company (BI&I), will sell its stakeholding to American International Group Inc. (AIG), staff at BI&I are predicting “business as usual”. Both the management and name of the company will remain, says Gary Young, BI&I vice president. He expects the […]
1 min read
Following on the heels of Cowan Insurance’s online launch, Quebec brokers Di Perno & Associates has entered the online insurance fray with the launch of “AssureMoi.com Inc.” The site, issued through La Toile du Quebec, the world’s largest French language web portal, will offer auto, residential, medical and life coverage. It is expected to be […]
Two broker network consolidators, Hi-Alta and The Hub Group, have reported strong showings in the second quarter 2000, capitalizing on new acquisitions. Hi-Alta Capital Inc. (TSE: HIA) saw commission revenue jump almost 18%, to $9.95 million for the three-month period ending June this year, compared with the $8.84 million reported for the same quarter in […]
After several years of growth decline, the Canadian and U.S. property and casualty insurance markets appear to have turned a corner for the better based on results for the first quarter of this year. Industry economists and market analysts are particularly upbeat of a significant rise in net premiums recorded for the period, their enthusiasm […]
August 31, 2000
1996 (59,812) 367,061 (41,717) 152,501 -27.4% 1995 (18,095) 214,560 1996 (59,812) 367,061 (41,717) 152,501 -27.4% 1997 (21,685) 399,078 38,127 32,017 1191% 1998 22,042 609,891 43,727 210,813 20.7% 1999 (59,220) 438,813 (81,262) (171,078) 47.5% Margins represent the favourable run-off of prior year claims estimates. Deficiencies represent the unfavourable develoment on the run-off of prior year claims […]
4 min read
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