Industry
Co-operators General Insurance Co. reports a boost in income for the last quarter of 2000, with after-tax net income almost doubling over the same period in 1999, from $8.4 million to $17.3 million. At the same time, the company’s combined ratio dropped from 105.3% for Q4 1999 to 101.8%. Part of this is attributable to […]
April 30, 2001
1 min read
Danny Craig, president-elect of the Insurance Brokers Association of Ontario (IBAO) told brokers recently that the IBAO has been hard at work promoting its senior designation program, which will now be run through the Insurance Brokers Association of Canada (IBAC). Craig also commented on the development of the Center for Studies of Insurance Operations’ (CSIO) […]
Risk
At the time of writing this article, less than two weeks remained before voters in British Columbia will be asked to choose a new provincial government. And, in the lead-up to B.C.'s provincial election set for May 16, polling results suggest that the current ruling New Democratic Party (NDP) will likely garner less than 20% of the popular vote, while the opposition Liberal Party seems to be favored by 80% of the province's voters. As media reports in B.C. point out, it is not a case of whether the Liberals will win, but by how much. What does this have to do with the insurance industry? A change in government in B.C. this year - particularly with the Liberals in the driving seat - could herald the beginning of deregulation of the province's $2.6 billion "basic auto" insurance marketplace which for the last 27 years has been legislatively protected and underwritten by the Insurance Corporation of British Columbia (ICBC).
10 min read
The recent Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference drew focus to several political, technological, regulatory and pricing developments taking hold within the province's property and casualty insurance industry. Among the issues discussed included a consensus that insurer premium increases planned for this year will have to be supported by the brokerage community.
3 min read
THE FUTURE OF REINSUR ANCE FINANCING
8 min read
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An earthquake that shook Seattle and nearby areas in Washington and Oregon will cost insurers about $330 million, says a press release from the Insurance Services Office (ISO). The quake, which struck on February 28 and measured 6.8 on the Richter scale, resulted in over 13,500 claims from homeowners and businesses in the affected area. […]
Dear Editor, I read with interest your article on e-insurance in the March edition of Canadian Underwriter. Canada Life is the majority owner of Kanetix, with remaining ownership held by its employees. The Kanetix website provides information on Canada Life’s ownership which is much more transparent than current market practice in this area. For example, […]
The term “voets toets” originated from the early Dutch farm settlers in the “Cape of Good Hope”, and today is a recognized legal term in contracts within South Africa. After some extensive but mostly unrewarding “Internet research” by myself to try tie down the origin of the term’s use, the best I could establish is […]
4 min read
107.8 110.4 4.9 114.9 116.4 12.5 107.8 110.4 4.9 109.8 109.4 6.6 114.9 116.4 12.5 107.8 110.4 4.9 105.4 110.3 3.1 109.8 109.4 6.6 114.9 116.4 12.5 107.8 110.4 4.9 Combined Combined Written Ratio Ratio Premium (%) 105.4 110.3 3.1 109.8 109.4 6.6 114.9 116.4 12.5 107.8 110.4 4.9 1999 2000 Change in Net Combined […]
2 min read
Despite reports that it would be “business as usual” following ING’s takeover of Equisure Financial Network last September, the board and CEO of the broker network have packed their bags. Equisure chair and CEO George Hutchison announced his intention to resign, as well as directors Neil Forth, Hector Lavigne, Lynne Hutchison, Douglas MacDonald, Hubert Mockler, […]
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