Industry
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Women in Insurance Cancer Crusade Dinner. Toronto, ON. Contact Paula Driver-Chiccanti at 416-756-8464 for details. March 28. Insurance Bureau […]
February 28, 2001
2 min read
U.S. property and casualty insurers saw their net income for the first nine months of last year fall by 5% to US$16.5 billion compared with US$17.4 billion reported for the same period in 1999, according to the Insurance Services Office INC. (ISO) and the National Association of Independent Insurers (NAII). The industry’s earnings plunge – […]
January 31, 2001
3 min read
The brave new world of the Internet brought a scope of accessibility never before experienced. And, just as insurers are beginning to grasp all that the Internet has to offer, the digital world is opening even more doorways with the advent of wireless technology. As companies push customer service as a marketplace “differentiator”, the use […]
By Larry Snipes, director of product development and general insura | January 31, 2001
5 min read
CGNU’s Canadian holding company CGU has disposed of its equity stakes in Commercial Union Life and Norwich Union for a total of $297 million. Commercial Union was sold to Manulife Financial for $138 million and Norwich Union to a subsidiary of the American International Group (AIG) for $159 million. Both deals are subject to regulatory […]
Like it or not, Winston Morris, chair of Canadian Council of Insurance Regulators (CCIR) and assistant deputy minister of commercial and corporate affairs in Newfoundland and Labrador, has found his name in the news quite a bit lately. Public hearings on the province’s Facility Association (FA) have become a sparring ground for insurers, brokers and […]
By Vikki Spencer | January 31, 2001
6 min read
Just before Christmas, the Supreme Court of Canada heard argument in the case of Whiten v. Pilot. The original trial jury heard evidence that lead them to conclude that Pilot acted in bad faith against its insured Whiten and awarded punitive damages of $1 million against the insurance company. Insurers now await the result of […]
By Jim Cameron of Cameron & Associates Insurance Consultants Ltd. | January 31, 2001
Listed insurer Queensway Financial Holdings Ltd. (TSE:QFH) posted a third quarter 2000 loss of $49.1 million equal to $4.04 a share largely as a result of what the company describes as “accounting irregularities” revealed at one of its major U.S. operating subsidiaries, Sun States Group (SSG). Rating agency A.M. Best Co. has pulled back the […]
The final results released by StatsCan on the performance of the Canadian property and casualty insurance industry through to the end of the second quarter of last year removes any doubt that the market has entered into a broad price hardening, says Ted Belton in the latest issue of the Belton Report. “There is now […]
As insurers dip their toes into the vast ocean of e-commerce, regulators are donning their lifeguard gear in an attempt to protect consumers and the industry itself from the potential dangers lurking there. At home and abroad, the as yet unknown hazards of online sales are being examined and framework rules put in place. Issues […]
By Lawrie Savage, president of Lawrie Savage & Associates Inc. | January 31, 2001
CGU Canada is making several organizational changes effective June 1, including the appointment of Igal Mayer as president and CEO of CGU Canada. He was formerly finance director for Norwich Union Insurance and replaces Mark Webb. Webb has been named managing director Europe for CGNU. Richard Harvey will become group chief executive for CGNU, effective […]
1 min read
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