Industry
Network consolidator Anthony Clark International Insurance Brokers Ltd. (TSE: ACL) has acquired an unnamed independent brokerage located in Calgary, Alberta for an undisclosed amount. A media statement issued by the brokerage group says the acquired operation generates about $1 million in annual premiums. The latest acquisition is the 18th of a string of brokerages acquired […]
By Canadian Underwriter | August 3, 2001
1 min read
The Economical Insurance Group has completed restructuring of Hartford Insurance Co. of Canada which was acquired at the beginning of this year. The acquisition was given approval by regulators in late April.The Hartford Canadian operation has been renamed Langdon Insurance Co. which will serve as the specialty commercial lines division of the Economical group. Langdon […]
By Canadian Underwriter | August 2, 2001
Citigroup Inc. Canadian subsidiary, London & Midland General, is selling part of its affinity business to Canada Life Assurance Company. Canada Life annouces it will take over London & Midland’s “non-affiliate” affinity business, which is expected to bring in over $15 million in premiums this year.The sale includes London & Midland’s accidental death and dismemberment […]
39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance Information Institute 43.4 34.5 39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance Information Institute -6.5 43.4 34.5 39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance Information Institute -9.6 -6.5 43.4 34.5 39.8 -3.1 -2.0 -6.3 Source: SNL Securities and the Insurance […]
July 31, 2001
2 min read
The newly-elected Liberal government in British Columbia has made good on its promise to clean house at the Insurance Corporation of B.C. (ICBC). The recent appointment of new chairman Nick Geer has been followed by the replacement of other board positions. The only remaining member is ICBC president and CEO Thom Thompson. The changes come […]
Alberta’s insurance regulator has issued a public warning against operators said be selling insurance products within the province without a license. This move follows on legal action taken by Ontario’s financial services regulator last month against a company believed to have been illegally underwriting property and casualty insurance products. An Insurance Bureau of Canada (IBC) […]
Property and casualty insurers have gained a temporary reprieve from the Office of the Superintendent of Financial Services (OSFI) on implementation of the regulator’s proposed reporting of discounted unpaid claims, according to the Insurance Bureau of Canada (IBC). The new reporting requirement was supposed to take effect from the beginning of January this year. However, […]
It was annual broker review time. Like all my company’s marketing representatives, I had to hold up an objective magnifying glass once a year to each of my brokers. I had to assess each one, listing their strengths and their weaknesses. This annual review included charts showing the mix of business my company was receiving […]
By Axiom | July 31, 2001
9 min read
The outcome of a class action lawsuit filed in Ontario against the Co-operators General Insurance Co. in an attempt to reclaim amounts the insurer allegedly gained from salvage following a total loss write-off of a vehicle and deductible charged to the insured, could herald a new attack of "strike suits" against auto insurers
By William Blakeney, of Blakeney Henneberry Baksh | July 31, 2001
7 min read
Insurers acting through the industry’s national lobby body, the Insurance Bureau of Canada (IBC), are currently engaged in high-level meetings with provincial government officials in Atlantic Canada with a view to introducing rapid reform to the basic auto insurance product. The need to take corrective action in lieu of the significant rise in auto claim […]
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