Industry
The Insurance Bureau of Canada (IBC) is proposing the establishment of a Natural Disaster Reduction Plan, which would see all levels of government contribute a total of up to $750 million over five years to create a Natural Disaster Protection Fund. George Anderson, president of the IBC, announced the proposal at a December lunch at […]
December 31, 1999
1 min read
The 1999 third quarter returns for both Canadian and U.S. property and casualty insurers show little improvement in net earnings, with the return on investment of both sectors now hovering at around the 7% mark. The real problem child surfacing from the first nine-month results from both Canada and the U.S is a dramatic decline […]
5 min read
The majority of brokers that have sold their business, or are contemplating the prospect of doing so, have reacted for one or more of the following reasons: Rate of attrition and threats from dwindling volumes; Desire to be a part of a bigger company that can provide markets, capital, and assistance with direction; Want to […]
November 30, 1999
The traditional property and casualty (p&c) insurance industry is moving toward multi-channel distribution. The shift may not be as brisk as some industry observers believe is necessary to blunt the competitive challenge posed by the banks and others, even some traditional broker companies. Still, it is difficult to argue with the success that Canadian brokers are having in retaining customers in the face of an expanded range of distribution options already available.
7 min read
In a post NAEC media conference, VICC president Henning Norup says the organization has approved its first “after market” anti-theft deterrent system, where the device has been fitted to the vehicle other than the manufacturer. The Autowatch 329 Ti immobilizing device, a system developed by PFK Electronics based in South Africa, passed all of VICC’s […]
For those who felt the market conditions of 1999 were worth a good cry over a beer, the year ahead is likely to be a very sober occasion, analysts warn. Results for property and casualty insurers for the final quarter of 1999 are expected to mirror the poor performance delivered for the first half of […]
4 min read
The issues of broker sole occupation and the current restrictions applying to brokerage ownership will likely be among the top priorities on the Registered Insurance Brokers Association of Ontario’s (RIBO) 2000 agenda with regard to regulatory changes currently under discussion with Ontario’s insurance regulator. Both items have been move ahead on the priority scale by […]
3 min read
Prices will firm up and standard insurers will tighten underwriting rules, Kingsway Financial Services Inc. president Bill Star says, addressing media and stakeholders at the company’s first annual Analyst & Investor Day. “The result could see more business bypassing standard insurers to the non-standard market,” he adds. Through the morning, the company’s U.S. and Canadian […]
Kemper Canada has gone online with its HUON system, announcing their personal lines automobile and property markets are now being supported by The HUON Solution. “We now have the system to facilitate a winning environment,” says Judy Maddocks, president of Kemper. “As Kemper Canada introduces HUON over the coming months, we will start to experience […]
The Supreme Court of Ontario has ruled in favour of insurers who mounted a challenge against a City of Toronto bylaw outlawing insurers from directing their insureds to preferred bodyshops. “This is a big victory for the industry and for the insureds,” remarks one stakeholder, CGU Group Ltd. claims manager Wayne Roth. According to the […]
2 min read
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