Risk
Despite deteriorating conditions in the property and casualty insurance market, insurers continue to slash already low premium rates. Market observers forecast this trend to continue for at least 24 months as insurers prioritize marketshare over revenue prosperity. Simply put, the insurance price war – particularly intense in the commercial lines arena – can only lead […]
February 28, 1999
8 min read
The risk management profession is coming of age, says Susan Meltzer the incoming president of the Risk and Insurance Management Society Inc. Meltzer will be the fifth Canadian president to take the reins of North America's most prestigious organization representing the development of risk managers. She is also the first Canadian woman to occupy the presidency chair of RIMS, a task she does not find daunting in the least. Her message: it's time for risk managers to look ahead.
6 min read
As I approached the first aisles of the “Exhibitors’ Showcase” it occurred to me for perhaps the sixth or seventh time just how technologically advanced our business had become. The three-day-long brokers’ convention had started, and half of the convention floor in our city’s largest hotel had been converted into an impressive showcase of computers […]
9 min read
Industry
News
3 min read
Claims
Dear editor: The following correspondence has been sent by Noble Insurance, an Ontario-based insurance brokerage, to Robert Gunn, president of Royal Insurance Company of Canada, Noel Walpole, president of Economical Insurance Group, Robert Landry, president of personal finance solutions at Zurich Canada and George Cooke, president of Dominion of Canada Insurance Company. The letter was […]
Vector Intermediaries Inc. (ASE: VTE) has entered into an agreement to sell its British Columbia operations. Regional vice president of Western Canada Rich Commerford has agreed to purchase Burnaby-based Charlton Insurance Agencies Ltd. as well as Macnaughton & Ward in Surrey and Langley, transactions that are a part of Vector’s continuing restructuring efforts and to […]
1 min read
The ramifications of the millennium bug are already hitting insurers, says Crawford Adjusters Canada vice president Glenn Gibson, who recently addressed a capacity crowd at the SCOR Canada/Lang Michener Claims Symposium in Toronto. Already in the U.S. – where the bulk of Y2K litigation is currently taking place — over 200 lawsuits have been settled […]
2 min read
Auto
The Insurance Bureau of Canada (IBC) has given a pat on the back to the Newfoundland and Labrador authorities who have adopted graduated licensing systems from January 1 of this year. Atlantic vice president of the IBC, Don Forgeron, says the adoption will go a long way in helping to reduce the unacceptable number of […]
The Export Development Corporation (EDC) posted record year end results for 1998. The corporation provides financial and risk management services to Canadian exporters, serving a record 4,183 exporters last year — a 13% increase on 1997. The EDC’s business volume grew by 21% in 1998 from a year earlier with a record $34.7 billion and […]
Private passenger auto insurance rates in Ontario decreased during the fourth quarter of 1998 according to the latest rate information published by the Financial Services Commission of Ontario (FSCO). This is the 10th successive quarterly decrease since 1996. Of the 22 rate filings that were approved, 21 dealt with rate changes. The individual rate changes […]
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