Industry
There is little wonder to why insurance company leaders are reluctant to embrace e-commerce wholeheartedly. Having being struck a double whammy of first “panel beating” their multi-million dollar legacy-based systems into shape for Y2K, then being told these same platforms are virtually obsolete in the approaching wave of “next generation” Internet-selling technology, any self-respecting executive […]
By Sean van Zyl, Editor | June 30, 2000
4 min read
If bigger is better, then Paul Hancock's plans for the Canadian Independent Adjusters Association will be welcome news to its members. The incoming president has his eye squarely on expanding membership, increasing the association's profile, and making strides in the battle for industry self-regulation.
By Vikki Spencer | June 30, 2000
6 min read
The previously announced bidding process launched by broker network consolidator Equisure Financial Network (TSE:EFN) in search of a parent owner has reached the final level of negotiations. Equisure recently issued a news announcement stating that shareholders had accepted the creation of a shareholder rights plan allowing for the bidding process to commence. The first stage […]
June 30, 2000
2 min read
In May’s Moves and Views, Mabel Sansom was incorrectly identified as the executive director of the Insurance Brokers Association of Ontario (IBAO) rather than her true position of executive director of the Insurance Brokers Association of Canada (IBAC). It was also indicated in the announcement, as did several other media, that Sansom would be resigning […]
1 min read
Brokers across the country need to keep the pressure on federal and provincial legislators. This is the message Manitoba’s brokers heard at their annual conference in Brandon from the Brokers Association of Manitoba (IBAM) new president Gerry Corrigal. The recent release of the federal government’s new financial services legislation does not mean broker associations can […]
Following a dismal performance for the 1999 financial yearend, Canada’s largest private insurer Co-operators General Insurance Company reported significantly lower earnings for the first quarter of the current financial year. Net income for the first three months of this year amounted to $2 million compared with $7.6 million reported for the same period the year […]
Rob Clarke, the newly elected president of the Independent Insurance Brokers Association of Alberta (IIBAA), says his organization is as prepared as it can be for the pending implementation of changes to that province’s Insurance Act. Foremost on Clarke’s agenda is the implementation of mandatory continuing education, expected prior to the February, 2001 licensing period. […]
3 min read
Following a string of global office restructurings among reinsurers, the Berkshire Hathaway owned General Re Corporation and Cologne Re have been amalgamated in name as one operation as GeneralCologne Re. “The essence of our direct reinsurance business model is our service to our clients and our excellence in underwriting…In order to do all of this […]
Following several months of rumor that the Canadian Imperial Bank of Commerce (CIBC) was looking for an exit strategy in divesting from its less-than-profitable property and casualty insurance interests, the bank appears to have finally found a taker — for $330 million. Quebec-based financial services group Desjardins Laurentian Financial Corporation has snapped up CIBC’s The […]
The torrential and almost record downpour resulting from a rainstorm which struck southern Ontario over the weekend of May 12th and 13th of this year is expected to cost insurers about $68 million in insured damages, according to preliminary figures released by the Insurance Bureau of Canada (IBC). And, almost a month later to the […]
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