Industry
Most people in the industry think he has lost his marbles, launching a new property and casualty insurance company in Canada from the ground up in what is widely seen as an overcrowded and cutthroat market. To say that Brian Johnston, who was the president of Liberty Canada Holdings until resigning in early 1997, is […]
November 30, 1999
5 min read
The 1990s will likely go down as the most momentous period in the modern history of the property and casualty insurance industry, a senior executive with experience dating back to the post WWII era recently stated. From “riches to rags,” another executive referred with a note of irony to the industry’s course over the past […]
12 min read
Marketing, distribution and technology are no longer separate components of the insurance business, delegates were told at the Institute for International Research’s recently held Distribution & Marketing in Property & Casualty Insurance conference. Multi-distribution channels including call centers and the Internet are becoming the standard by which the successful insurers will be measured. And, with […]
The recently held Insurance Corporation of British Columbia's (ICBC) auto repair symposium drew focus on the forces of change sweeping through the industry, in particular the close relationship that exists between property and casualty insurers and shop operators. Similar to the cost-efficiency driven rationalization occurring across other provinces, B.C.'s own market should be preparing for change if the existing independent players plan on surviving into the new millennium, the speakers warn.
3 min read
New York City-based Cybersettle.com, Inc. — an online company that resolves insurance disputes — has set up shop in Canada, settling its first Canadian dispute in late October. The website saves insurers and insureds the cost of court action, with both parties exchanging statements of claim and three different settlement offers. The website evaluates the […]
1 min read
The Office of the Superintendent of Financial Institutions (OSFI), the federal government’s financial services watchdog, is unhappy with the current level of voluntary earthquake reserving committed by property and casualty insurers. OSFI special adviser Julie Dickson indicated at the recently held North American Conference (see our upcoming January issue for further conference details) that compulsory […]
The November Women In Insurance Cancer Crucade educational breakfast educated hundreds of insurance professionals on the challenges of living with serious illness. Attendees at the breakfast watched a dramatic production entitled ‘Handle With Care?’, which was based on a study with metastatic breast cancer patients. The ‘Handle With Care?’ production translates the research into a […]
The proposed merger between listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. has hit some skids, both companies confess while asserting the merger will still carry on as planned. According to Jon Ouellette, Brokerlink’s vice president of operations, the hold-up in negotiations is not attributable to management or operational issues but to legal […]
2 min read
Taco Bell’s Chihuahua campaign, launched in late 1997, has become the pre-eminent brand recognition success of the late 1990s. The ad spots, featuring a talking Mexican dog whose only desire is to pursue Taco Bell food, has resulted in a North American-wide phenomenon which has seen restaurant sales increase since the campaign’s incarnation, not to […]
October 31, 1999
8 min read
The term “globalization” has become yet another buzzword expression littering the field of industry jargon. Similar to other grand but ambiguous phrases like “business reengineering” and “corporate repositioning” (among a broad host too numerous to mention), the term globalization jumps out in polished conversations on a regular basis, yet when looking about there appears to […]
4 min read
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