Industry
To help aid the victims and survivors of the September 11 terrorist attacks in the United States, the Insurance Brokers Association of Canada (IBAC) has partnered with The Salvation Army in Canada to set up the Canadian Insurance Brokers’ Appeal for the Salvation Army’s U.S. Disaster Fund. The purpose of this initiative is to enable […]
By Canadian Underwriter | October 5, 2001
2 min read
After five years of petitioning the Financial Services Commission of Ontario (FSCO), the Insurance Bureau of Canada (IBC) is finally able to institute a standard auto insurance invoice for health care practitioners in Ontario. The invoice, which applies to rehabilitation providers such as chiropractors, massage therapists, psychologists, and the like, will take effect November 12, […]
By Canadian Underwriter | October 4, 2001
Rating agency Fitch’s is predicting Lloyd’s of London losses from the terrorist attacks on America could reach US$10 billion or more. This comes after Lloyd’s announced estimated gross losses of US$1.9 billion for the market – still representing the single biggest loss event in Lloyd’s 300-year history.Fitch’s makes the claims based on the industry’s experience […]
By Canadian Underwriter | October 3, 2001
1 min read
Lloyd’s of London has announced an increase in its "central fund" premium levy which is charged against syndicate members by 0.9% to the 2% level. The new rate becomes effective from next year and will run through to the end of 2003, the insurance market says.The additional income generated will boost the central fund coffer […]
By Canadian Underwriter | October 2, 2001
Winnipeg-based auto collision repair operator The Boyd Group Inc. (TSE: BYD.A) has acquired AWC Collision Center which consists of four operations located in metro Seattle and Tacoma within the U.S. state of Washington. The terms and purchase price of the acquisition were not disclosed.Boyd will, however, issue about 143,000 class-A shares at a value of […]
After six years at the helm, the head of British Columbia’s public insurer is stepping down. Thom Thompson has been president and CEO of the Insurance Corporation of B.C. (ICBC) since 1995, and his retirement comes amidst a torrent of changes at the public insurer.Speculation has loomed that the B.C. auto market will be privatized […]
Broker consolidator Hi-Alta Capital Inc. (TSE: HIA), parent of the Western Insurance Network (WIN), reports strong growth for the first six months of 2001. The company, which operates mainly in Western Canada offering a wide range of financial products including insurance, saw revenue and net income rise over last year. Net income growth jumped by […]
September 30, 2001
Allstate Canada CEO and president Mike Haskell is moving on to the company’s U.S. headquarters, to become vice president of product operations. Mike Donoghue, formerly vice president of claims in the U.S., returns to Canada to become the new CEO. Royal and SunAlliance Canada president and CEO Bob Gunn will assume the role of Group […]
A research study conducted by the Insurance Bureau of Canada (IBC) of the insurance buying public in Atlantic Canada suggests that over 85% of those surveyed believe that the property and casualty insurance industry continues to be profitable. Last year, insurers notched up a loss of $190 million from the region, observes the IBC’s Atlantic […]
Originally introduced in June 2000 as Bill C-38, the legislation died on the order paper that fell when the federal election dissolved parliament. Reintroduced in February 2001, the legislation was passed particularly swiftly considering the protracted review process that led up to it, and the magnitude of the changes it will usher in for the […]
By Francesca Iacurto, director of public affairs at IBAC | September 30, 2001
6 min read
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