The Risk and Insurance Management Society (RIMS) has announced the formation of an advisory council to lead the development of its new “fellow” designation. Based on the Canadian-made Fellow of Risk Management, the new educational level promises to take a different direction.Workshop-style courses will be added to the curriculum, replacing the former requirement for three […]
By Canadian Underwriter | June 11, 2001
1 min read
Specialty risk insurer Kingsway Financial Services Inc. (TSE: KFS) has entered into an "alliance" with Texas-based auto insurer Reliant American Group Inc. "We see a lot of potential for the distribution of Reliant American’s commercial auto, garage liability and general liability products through our licensing and underwriting capabilities, with Reliant American assuming some of the […]
By Canadian Underwriter | June 11, 2001
1 min read
With my boss, Fred Wilson, at the wheel, we maneuvered the comfy van on to the highway and headed for the golf course. As manager of the company’s downtown branch, Fred was in close daily contact with many of our brokers. Today, however, it was a warm and sunny Friday afternoon in Spring. This was […]
May 31, 2001
8 min read
Mention Walkerton, and the immediate thought that jumps to mind is "water contamination". The tragic deaths that occurred in Walkerton, Ontario last year as a result of contaminated water supply are a stark reminder of the importance of risk management. A proper risk management program applied by the Walkerton authorities could have averted the tragedy that took place. As such, insurers looking to underwrite general liability insurance products for municipalities need to focus on the appropriate risk containment programs applied by these insureds.
May 31, 2001
5 min read
Poor results in the overall auto market are carrying over into the Facility Association, the insurance pool for high-risk drivers. At the association’s recent AGM, outgoing CEO Stan Griffin noted that in Ontario combined ratios for the FA jumped from 87% in 1999 to 109% in 2000. “I can say from having looked at the […]
May 31, 2001
1 min read
Listed broker consolidator Hub International Ltd. (TSE: HBG) lifted net earnings by 7% to $3.9 million for the first quarter of this year compared with the $3.6 million posted for the same period in 2000. This translated to earnings of 21 a share against the 20 a share made for the first quarter of last […]
May 31, 2001
2 min read
Boomerang Tracking company has gained support for its vehicle tracking systems among 14 Ontario insurers. The system, which has already made inroads in the Quebec market, will be endorsed by national companies including The Guarantee Company and Economical, who will recommend its installation to owners of high-end and high-risk vehicles. Boomerang reports the device has […]
May 31, 2001
1 min read
"Some people regard lobbying as kind of dirty word. I don't necessarily agree, I think a lot of positive initiatives, from public safety to consumer protection, have come about from efforts to influence public policy," says the man who for a long time standing has been a major driving force behind regulatory reform lobby campaigns engaged by the Insurance Bureau of Canada (IBC). George Cooke, president of one of Canada's more prominent "home bred" property and casualty insurers - The Dominion of Canada General Insurance Company - was recently appointed the chair of what will become a new and more formidable industry lobby body as the IBC and the Insurance Information Centre of Canada (IICC) merge from July this year.
May 31, 2001
8 min read
Compounded by consumer needs and stiff competition within the industry, insurance companies are forced to find new and innovative ways to differentiate themselves from their competitors. It is no longer enough to improve the efficiency of internal administration, insurers must provide value-added services to customers and fulfill the consumer’s desire for instant gratification. As a […]
May 31, 2001
4 min read
The last of specialty risk insurer Queensway Financial Holdings Ltd.’s (TSE: QFH) directors have resigned in light of the company’s bid to have an interim receiver appointed over its assets by the Ontario Superior Court of Justice. That request was granted May 18, a day after directors Harold Meloche, Kevin Charlebois and David Ogilvie announced […]
May 31, 2001
2 min read