Industry
Lindsey Morden Group has sold Hambro Assistance (HA) to Eastgate Group Limited of London England for $132.4 million. HA, which provides telephone helplines and other assistance services in the United Kingdom, is a unit of Lindsey Morden’s Hambro Insurance Services Group (HIS) subsidiary. Lindsey Morden acquired HIS earlier this year for approximately $210.2 million. The […]
December 31, 1998
1 min read
A battle of brawn and wits has begun among service providers to the insurance industry in response to the rapid consolidation taking place at the primary company level.Faced with a changing landscape, service providers are looking for new opportunities and cost-effective means to deliver their wares to insurers. The claims management segment, most notably the […]
9 min read
KPMG's 7th annual Insurance Issues Conference, held in November at Toronto's Four Seasons Hotel, focused on the effectsof industry consolidation on medium and small-sized insurance players.
3 min read
I am often asked what my profession is. Instead of saying, "insurance adjuster" I often respond "an arson investigator". I choose the latter for simplicity and to avoid a volley of complaints from the public over perceived injustices in the settlement of claims.
St. Paul Canada recently appointed Brad Tamblyn to the position of assistant vice president-Ontario region, responsible for leading the Corporate Accounts Underwriting team which markets commercial insurance products. Tamblyn has 16 years of experience including a significant background in liability insurance services. The Canadian Insurance Claims Managers Association Ontario Chapter has appointed its 1998/99 executive. […]
Catastrophe losses continued to dampen U.S. property and casualty underwriters’ results for the third quarter of 1998, according to A.M. Best Company. The industry’s net income for the period fell 15% from the previous year’s level, due to higher underwriting losses and declining investment income. The industry’s combined ratio clocked in at 104.2 for the […]
2 min read
The legislative fine-tuning of Ontario’s auto insurance product under Bill 59, which carried through last month with the passing of Bill 90, was generally lauded by insurance, legal and medical professionals at a review seminar held by the Insurance Institute of Ontario (IIO). However, property and casualty insurance commentators say that — while Bill 59 […]
Tomorrow’s insurers may become virtual companies that interact electronically with customers, while driving down costs and improving speed to market, a leading business futurist predicted at the opening of the U.S. Insurance Services Office Inc.’s (ISO) InsTech98 Conference. Dr. Bill Bruck, futurist and author, made this and other predictions about new technologies that will reshape […]
Listed broker-network Vector Intermediaries Inc. has struck a deal with General Accident Group (GA) which could cure the network’s cash woes. The deal, which could inject up to $35 million into Vector’s coffers, includes a $20 million loan facility made available by the insurer. The deal also provides GA with a five-year option to acquire […]
Toronto-based Cross Border Underwriting Services Inc (CBUS), a subsidiary of the listed KRG Insurance Group, notched up half a million in premium dollars in its first year of operation. A specialist wholesale brokerage operator, CBUS was created a year ago to provide Canadian brokers with a means of servicing their clients with offshore exposures. In […]
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