Industry
This year, in an awards contest that often appears to be dominated by a few large companies with deep pockets, representatives of more than 30 insurance companies took home “Best of Show” and “Awards of Excellence” prizes from the IMCA’s Showcase Awards ceremony, held during the June 29 gala at the Keystone Resort in Colorado. […]
August 31, 1999
2 min read
With the conference and seminar season once again shifting into full drive, the message remains consumerism. Nothing new — the insurance industry has become almost anaesthetized by the repeated urgency to address consumer expectations. However, the latest round of discussions on the consumerism topic have shifted focus to the industry’s technology weaknesses. The emergence of […]
3 min read
Property & casualty insurance brokers are breathing a collective sigh of relief as the federal government’s discussion paper on the future of financial institutions in Canada effectively put a moratorium on the banks’ entry into the retail insurance market. Despite the Insurance Brokers Association of Canada (IBAC) lobbying efforts, which demonstrated the profession has clout […]
6 min read
Donald Alexander, senior vice president of Guy Carpenter & Company Ltd. (Canada). My instincts tell me that the reinsurance market is under-priced. Rating models strongly indicate that market prices are below what they should be. This is not surprising, given year-after-year of price erosion and expansion of coverage. My gut feeling is that any “fat” […]
With mass consolidation converting the insurance industry into a global industry — and the increased cross-border transactions, partnerships and mergers between U.S. and Canadian insurer — it is fitting that North American insurers will meet this Fall for the first North American Insurance Conference. Co-chaired by Kingsway Financial Services Inc. president Bill Star and Serge […]
Listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. have announced their intention to merge operations with netpremium volume of $277 million. The newly formed corporation — expected to retain the Brokerlink brand name — will trade shares with existing Brokerlink stakeholders on a 2.5 to 1 basis, while existing Vector shareholders will receive […]
Dear Editor, We read the article by Lowell Conn, titled “Faith & Honour”, in your April 1999 publication and would like to comment on a couple of statements attributed to Ginny Bannerman. Ms. Bannerman is quoted as saying, in reference to Alberta’s new Insurance Act and Alberta’s educational requirements for general insurance brokers, “the requirement […]
1 min read
Alan Greenspan only has to mention inflation and interest rates in the same breath to send the investments markets into spasm. His most recent economic brief, presented toward the end of July, knocked off close to 3% of the value of the Dow Jones and the TSE-300 index in a single day. The capital markets […]
July 31, 1999
4 min read
As insurance professionals, we sell not only security, but also knowledge. Our competitive advantage is often based on what we know and how well we can apply it. This means that individually, as brokers, and collectively as an industry, learning is the key to success. Traditionally, we’ve accumulated knowledge by taking courses, reading books and […]
The insurance industry got off lightly from the July 16 fire at a downtown Toronto Bell Canada switching station in which phone service was cut off for 113,000 downtown homes and offices for nearly five hours. Initial estimates had the disruption caused at being over $1 billion in economic losses. This, however, was mainly attributed […]
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