Industry
Looking into the crystal ball, Ted Belton sees a bright future for the Canadian property and casualty insurance industry – and a busy future for himself. Although officially retired from his post as director of research for RBC Underwriting Management Services this past summer, there is no stopping the man who has been a strong […]
By Vikki Spencer | November 30, 2000
6 min read
A controversy which has been simmering for several years now could boil over at any moment with the consequence being higher and more frequent court damage awards being made against insurers, predict senior partners of litigation defense firms. The issue at stake is attempts by insurers over recent years to “cap” external legal expenses and […]
By Sean van Zyl, Editor | November 30, 2000
8 min read
The insurance industry donned its finest for the 45th annual Toronto Insurance Conference Black Tie Dinner recently, at the Four Seasons Hotel in Toronto. Among the guests were (clockwise from top, left to right): Employers Re’s Peter Borst, The Citadel Assurance’s Ernst Notz, The Travellers Casualty & Surety Company’s Brian Divell, RIBO past president Art […]
November 30, 2000
1 min read
Meloche Monnex Inc., the property and casualty arm of TD Bank Financial Group, has acquired the property and casualty insurance business of Canada Life. In return, Canada Life Assurance Company will take over the group savings business of TD Canada Trust, as well as receive a net cash payment of $75 million. Meloche Monnex will […]
2 min read
The federal government’s announcement of an early general election for November of this year has scuttled hopes of having Bill-38, the national financial services legislation, passed within the fall sitting of parliament, confirms Paul Kovacs, vice president of the Insurance Bureau of Canada (IBC). Introduced by Finance Minister Paul Martin last year as a “white […]
October 31, 2000
In advance of its annual meeting this month, the Registered Insurance Brokers of Ontario (RIBO) has released a policy paper on the province’s proposal to remove the sole occupation requirement for brokers. RIBO favours changing the requirement to ‘principal occupation’, rather than removing it altogether, as has been suggested by the Financial Services Commission of […]
Eric Laity (pictured) of Burnaby, B.C. has been named that province’s Insurance Person of the Year for 2000. Laity, who has spent 40 years working in the claims end of the industry, is the first recipient named from outside the traditional private sector of the general insurance industry. He retired in June as education services […]
Although the optimistic whisper of higher premium pricing echoes along the company corridors of both the Canadian and U.S. property and casualty insurance industries, the first half-year underwriting results from both countries hint at caution. While the Canadian industry benefited this year from a robust investment environment – thereby offsetting underwriting losses – this gain […]
By Joel Baker, general manager of A.M. Best Co., Canada | October 31, 2000
4 min read
Dear Editor, I am writing with respect to your editorial which appeared in the August, 2000 issue of CU. I wish to correct your statement that I am opposed to the concept of a national financial services ombudsman. The federal government has taken an important first step in proposing the Canadian Financial Services Ombudsman. While […]
The Centre for the Study of Insurance Operations (CSIO) is taking action in its quest to develop a single-entry portal for brokers. At a recent Insurance Brokers of Toronto Region luncheon, CSIO president Klaas Westera says that a portal was necessary to allow brokers seamless access to insurance companies, including rate comparisons. Now, CSIO is […]
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