Industry
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 […]
June 30, 2000
1 min read
Risk
Assurex International has expanded its operations in Canada with the addition of Phoenix Group Corporation in Edmonton, Alberta, to its list of broker partners. Lipscomb & Pitts Insurance, LLC, of Nashville, Tennessee, also joins Assurex’s network of nearly 70 independent brokers in North America, as well as the Ohio-based company’s partners in more than 50 […]
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Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. International Insurance Society, Inc. Annual Seminar. Vancouver, BC. For further information call 212-515-9291. July 9 to 12. Property and […]
2 min read
The 2000 Canadian Insurance Congress — which this year celebrated its tenth anniversary as Canada’s premier annual reinsurance/primary company CEO forum — drew together a strong cast of speakers from across the sectors of the North American property and casualty insurance industry. The underlying message presented to the senior management audience was the need to […]
9 min read
Auto
Speaking at the Canadian Insurance Congress luncheon, George Anderson, president of the Insurance Bureau of Canada (IBC), announced that the IBC will be renewing its lobby campaign this year to overthrow the state-run monopoly position the Insurance Corporation of British Columbia (ICBC) holds over auto insurance in the province. The IBC has been pursuing an […]
The rise of direct insurers has energized discussion about regulating product sales inducements. While many brokers fight to maintain the prohibition on inducements, others are asking the question, “who are we protecting?” And regulators are starting to respond, rewriting the books on how insurance is sold From toasters to trips for two, the world of […]
7 min read
The global reinsurance market suffered its worst underwriting year in 1999, largely as a result of natural disaster catastrophe losses estimated to having cost the industry about US$24 billion. European reinsurers finished 1999 with an alarming 131% combined ratio, the U.S market with 114% and Canada at 105%. The stark rise in European reinsurance underwriting […]
10 min read
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
For most Canadians, a natural disaster is something that takes place half a world away, generally in poor, under-developed countries, across the hurricane swept Caribbean, or along the southeast coast of the U.S. But more natural disasters are happening in our own backyard, adding to the burden of risk management, and raising concern that resources for immediate disaster relief will be spread too thin.
4 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 […]
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