Industry
Canada’s new federal financial services legislation under Bill C-8 entered the final stage of debate by the Senate following approval last week by the finance committee of the Senate. It is expected that the new legislation will be enacted by June 15 of this year before parliament breaks for the summer.The financial services legislation in […]
By Canadian Underwriter | June 11, 2001
1 min read
A Canadian class action lawsuit has been filed against auto manufacturer Ford and tire manufacturer Firestone for use of defective and unsafe products on Ford Explorer models. The action was initiated by Michelle Rambharos of Brampton following a vehicle accident involving her Ford 1995 Explorer which allegedly "flipped" after one of the tires burst, resulting […]
By Canadian Underwriter | June 10, 2001
2 min read
With the formal swearing in of B.C.’s Liberal government cabinet, a new finance minister takes the helm, and assumes responsibility for the province’s public insurance program. Gary Collins has been given the task of overseeing the Insurance Corporation of British Columbia as port of his overall finance ministry portfolio. In the past, ICBC has fallen […]
By Canadian Underwriter | June 8, 2001
Zurich Canada and Manulife Financial are teaming up to cross-sell insurance products to small business owners. The national alliance will see Zurich’s brokers refer clients to Manulife for group life and health insurance, with Manulife returning the favor with potential property and casualty insurance buyers. The partnership is a result of the sale of Zurich’s […]
Chubb Insurance Co. of Canada has launched a broker-supporting website focused on personal lines. Following a successful trial run of the site in December 2000, the company says the service will go live in Ontario now, while brokers in other province’s will gain access by the end of the summer this year.Typical broker features of […]
An Ontario-based insurance brokerage, Phoenix-Eastern Insurance Brokers Inc., has launched an online range of insurance covers aimed at non-profit associations and charities. Accessible through the Internet, the new service known as CAIP Comprehensive Associations Insurance Program will provide instant quotes on covers. The brokerage claims that the savings available to insureds through CAIP could be […]
Manitoba’s drivers could be paying even lower rates in the coming year if the public insurer there has its way. Manitoba Public Insurance (MPI) has applied to the Public Utilities Board for an overall premium reduction of 1.2%, the fourth consecutive year of rate reductions in that province, according to an MPI press release.The reduction, […]
By Canadian Underwriter | June 7, 2001
Chuck Byrne, executive director of IBABC, was incorrectly quoted in the May 2001 issue of CU as stating that the insurance delivery system operated under ICBC is less efficient than would be the case should the market be deregulated. Byrne says an open competition model would place a greater workload on the broker.
May 31, 2001
With the advent of Internet sales and service, building a solid relationship with customers will become more important than ever. Not only does the Internet bring the opportunity for high-tech customer relationship management (CRM) solutions, but it also gives consumers the ability to change insurers with a simple click of the mouse. Insurers seem to […]
By Vikki Spencer | May 31, 2001
12 min read
In the final climactic moment of the television series "Survivor", the host on handing out the $1 million prize noted that, "this game is all about relationships". The physical challenges, the starvation and other forms of deprivation, and in the end, it all came down to building solid and lasting relationships. This should not a surprise revelation for marketers and sellers of complex products including insurance. The key to being a winner is always the same - the establishment of loyal relationships, in this case with your customers.
By Martin Power of Editorial Edge Inc. | May 31, 2001
5 min read
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