Industry
Catastrophe losses continued to dampen U.S. property and casualty underwriters’ results for the third quarter of 1998, according to A.M. Best Company. The industry’s net income for the period fell 15% from the previous year’s level, due to higher underwriting losses and declining investment income. The industry’s combined ratio clocked in at 104.2 for the […]
December 31, 1998
2 min read
News
Counting both independent and in-house insurance adjusters among its member base, the Ontario Insurance Adjusters Association (OIAA) requires a special breed of leader. The captain of this team must respect and grasp the sometimes contradictory priorities of its different faction members. Garth Roscoe is the leader as well as referee on the adjusting field.
5 min read
In the early days of environmental underwriting companies were often unaware of the full risk involved. For many companies the risks they took on and subsequent claims were not foreseen. For others, while the possibility of large claims may have been considered, the full consequences of the exposure were not. Investigation and litigation of environmental […]
6 min read
Consolidation and cost cutting became the corporate buzzwords of the 1980s and 1990s, with operators from insurance to retail-chains through to the aviation industry embracing downsizing and cheaper marketing and delivery systems. The aviation business emerged from this process, particularly on the large commercial airline side, with a concentration of ownership at the manufacturing level […]
7 min read
The recently held Employers Reinsurance Corporation seminar on Y2K risks delivered some serious food for thought. The most startling of the information revealed was delivered by the first three speakers who provided a broad outline of the technology disruption likely to impact not only on financial services but on the global economy as a whole. […]
3 min read
The legislative fine-tuning of Ontario’s auto insurance product under Bill 59, which carried through last month with the passing of Bill 90, was generally lauded by insurance, legal and medical professionals at a review seminar held by the Insurance Institute of Ontario (IIO). However, property and casualty insurance commentators say that — while Bill 59 […]
Tomorrow’s insurers may become virtual companies that interact electronically with customers, while driving down costs and improving speed to market, a leading business futurist predicted at the opening of the U.S. Insurance Services Office Inc.’s (ISO) InsTech98 Conference. Dr. Bill Bruck, futurist and author, made this and other predictions about new technologies that will reshape […]
Listed broker-network Vector Intermediaries Inc. has struck a deal with General Accident Group (GA) which could cure the network’s cash woes. The deal, which could inject up to $35 million into Vector’s coffers, includes a $20 million loan facility made available by the insurer. The deal also provides GA with a five-year option to acquire […]
Toronto-based Cross Border Underwriting Services Inc (CBUS), a subsidiary of the listed KRG Insurance Group, notched up half a million in premium dollars in its first year of operation. A specialist wholesale brokerage operator, CBUS was created a year ago to provide Canadian brokers with a means of servicing their clients with offshore exposures. In […]
To celebrate their acquisition of P.D. Brunt & Company Ltd., adjusters Sobel Adamsons Clements Ltd. recently held a one-day workshop, at Toronto’s The Albany Club, hosted by law enforcement consultant Glenn Foster. A former homicide detective and author of “How Can I Ge Through To You”, Foster is an expert on the art of investigation […]
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