Industry
Following a grueling year of devastating performance across the various areas of business – weak rates, rising claim costs, higher expense ratios and volatile investment returns – Canada’s property and casualty insurers may have perhaps turned the corner for the better based on industry results for the first half of the 2000 financial year. Specifically, […]
By Sean van Zyl, Editor | October 31, 2000
11 min read
The strong market position of CGU’s Canadian operations should leave it untouched in the wake of the CGNU group’s decision to divest its U.S. general insurance operations. Mark Webb, president of CGU Canada says, “the Canadian operations clearly meet the strategic direction that CGNU wants to take, which is to be top five in the […]
October 31, 2000
1 min read
Technology shopping-lists and three-page security policies are no longer an adequate network security planning method for an insurance company. It used to be information technology (IT) management would seek funding approval for firewalls, anti-virus tools, and the computers to run them on. This budget would determine the investment in security technology, with no formal means […]
By Ron Lepofsky, president of PTI Technologies Inc., and Tom Adler, | October 31, 2000
3 min read
Given the rise in litigation and claims severity under D&O (directors and officers) coverage, rates are woefully inadequate, a recent Toronto Insurance Conference seminar was told. Udo Nixdorf, senior vice president of Chubb Insurance Company of Canada, says trends in litigation which are holding individual directors increasingly liable for business practices are among the factors […]
2 min read
Kingsway Financial Services has stepped to the plate as the first insurer to offer financial support for the Metro Toronto Police helicopter project. A pilot project to test the use of a helicopter in cases ranging from tracking suspects to locating missing persons has been under way since the summer. Already the program has been […]
Claims and operating costs continue to hamper Canada’s largest private insurer, Co-operators General Insurance Company. Despite a restructuring program following last year’s dismal financial performance, Co-operators saw net income drop and claims and operating ratios rise in the second quarter of 2000 compared with the same period last year. Net income for the first six […]
September 30, 2000
Following on the heels of Cowan Insurance’s online launch, Quebec brokers Di Perno & Associates has entered the online insurance fray with the launch of “AssureMoi.com Inc.” The site, issued through La Toile du Quebec, the world’s largest French language web portal, will offer auto, residential, medical and life coverage. It is expected to be […]
CARSTAR's annual conference brought insurers and collision shop owners onto common ground to repair the once adversarial relationship that plagued both sides. In the name of improved customer service and hence higher profits, all agreed the time has come to forge new partnerships.
By Vikki Spencer | September 30, 2000
5 min read
Two broker network consolidators, Hi-Alta and The Hub Group, have reported strong showings in the second quarter 2000, capitalizing on new acquisitions. Hi-Alta Capital Inc. (TSE: HIA) saw commission revenue jump almost 18%, to $9.95 million for the three-month period ending June this year, compared with the $8.84 million reported for the same quarter in […]
Incoming Insurance Brokers Association of Ontario (IBAO) president Dan Danyluk is no stranger to “selling passion”, he says. And, in a time of intense regulatory change, e-commerce explosion and swift market shifts, he intends to sell insurers, brokers and the province on the added value the IBAO brings to the table. With aggressive goals for […]
6 min read
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