Industry
Listed insurer Queensway Financial Holdings Ltd. (TSE:QFH) posted a third quarter 2000 loss of $49.1 million equal to $4.04 a share largely as a result of what the company describes as “accounting irregularities” revealed at one of its major U.S. operating subsidiaries, Sun States Group (SSG). Rating agency A.M. Best Co. has pulled back the […]
January 31, 2001
2 min read
Risk
Ed Martingano, president of the Ontario Chapter of the Risk and Insurance Management Society (ORIMS), welcomed about 430 guests to the chapter’s annual Seasonal Luncheon last month. The event, held at the Arcadian Court of the Bay Queen Street Store in downtown Toronto, featured a charity art raffle and silent auction.
December 31, 2000
1 min read
Auto
As incoming president of the Ontario Insurance Adjusters Association, Paul Feron knows he will juggle the interests of two diverse member groups, independent and staff adjusters. Finding common ground may not, however, prove difficult. Adjusters as a whole face a host of issues, including licensing, new privacy legislation and litigation trends that are seeing individuals […]
6 min read
We are surrounded by sophisticated technology at prices that seemed impossible a few years ago. Yet, the majority of property and casualty insurers continue to operate expensive and outmoded legacy-type computer systems. Internet-based technologies, combined with computer telephony integration (CTI), have opened up new doors in both time and cost savings for financial service providers […]
3 min read
Canadian Independent Adjusters Association past president David Buzzeo passes the gavel to new president Paul Hancock at the association’s recent conference in Edmonton, AB. Jill Hepburn has been appointed vice president, underwriting and technical services for the Facility Association. Hepburn had been working for the association since last January, on loan from Royal & SunAlliance […]
Temi Seibert (pictured right), director of the Insurance Marketing Communications Association (IMCA) says the organization and its members need to address the changing nature of financial services. The convergence of financial services, multiple distribution channels including the Internet and the increasing importance placed on price by consumers are all affecting the way companies market products. […]
The recent advancement of outsourcing within the property and casualty insurance industry – which today has seen the breadth of functions affected ranging across the various areas of the business compared with the past’s narrow application to the investment management and non-core areas of operations – prompted the Office of the Superintendent of Financial Institutions […]
7 min read
One area of great confusion that exists in the insurance market in Canada today is the status of group property and casualty coverage. The advantage of group coverage is that it can be sold without a licensed broker being involved. As an increasing number of property and casualty insurance coverages are mass marketed or sold […]
Insurers look to the bottom-line
Commercial
As the company’s senior marketing representative, it was an annual ritual. Every January, I invited a group of my lead brokers to my house for an afternoon of wine tasting followed by a large and calorie-rich dinner. It was now early evening. We had tasted and rated a dozen good wines, eaten a huge dinner, […]
8 min read
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