Industry
Imbalances in growth rates for property/casualty insurance premiums, losses and expenses could lead to a record downturn, says Frank J. Coyne, president and chief operating officer of Insurance Services Office Inc. (ISO). Forecasts based on third-quarter 1999 growth rates show the industry’s combined ratio would increase from 107.5% to 111.7% this year, and 136.2% for […]
April 30, 2000
1 min read
Broker consolidator Hi-Alta Capital Inc. (TSE: HIA) reported a 40% rise in net income to $345,226 for the 1999 financial year compared with the prior year’s earnings. However, earnings came in lower at 3 a share (1998: 4 a share) due to the dilution affect of debenture conversions to common stock. The debentures, amounting to […]
A broad company survey released by consultants Towers Perrin suggests that the vast majority of the 300 respondents believe e-commerce will triple in revenue terms over the next two years. The survey respondents were drawn primarily from the U.S., Canada, U.K., Europe and Australia. Over 35% of the respondents represent “traditional companies” with more than […]
With recent changes having been introduced by the Financial Services Commission of Ontario (FSCO) to insurer market conduct self-audits, there is a sense that the regulator is toughening its position on reporting non-compliance which could have serious ramifications for the insurance industry.
By James Cameron, president of Cameron & Associates Insurance Consu | April 30, 2000
6 min read
This year’s Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference, which was recently held in Ottawa, drew focus on the need for the brokerage community to unite in the face of rapid consolition and the technological changes sweeping through the insurance industry. In presenting his opening speech, IBAO president Ken Orr […]
By Sean van Zyl, Editor | April 30, 2000
The Fourth Annual Women in Insurance Cancer Crusade (WICC) dinner was held Wednesday, March 29 at the Toronto Marriott Hotel. Pat Trywhitt, of Insurance Portfolio Inc., was the first ever recipient of the Lew Dunn Memorial Award for outstanding volunteer work. The annual award is named after Lewis Dunn, past president and chief executive officer […]
For the 1999 financial year the U.S. property and casualty insurance industry produced a disappointing 6.6% rate of return compared with 9.2% for 1998 and 11.9% for the year prior. The industry’s drop in shareholder returns for the year was driven by lower investment gains and a 39.5% year-on-year decline in underwriting losses to US$23.4 […]
2 min read
If you are a small independent insurance broker doing business in today's market, you are no doubt feeling uncertain about your future. With the advancement of direct writers and the broker network consolidators, who could blame you. However, for those in the brokerage community willing to embrace technology advantages, the future can be a bright one.
By Brian Thompson, president of SurNet Insurance Group | April 30, 2000
3 min read
Emerging technologies are having a great impact upon the insurance industry, in particular the adjusting field. One innovation that is leaving its mark on adjusting in particular is digital photography. Incorporating photos into insurance reports is critical to developing comprehensive case reports, and the advent of digital photography has meant adjusters are able to do […]
By Lorne Montgomery, Crawford Adjusters Canada | February 29, 2000
4 min read
There are a multitude of parallels between changes affecting the securities and insurance industries, notes 2000 Property & Casualty Joint Industry Forum keynote, Goldman, Sachs & Co. chief executive officer Henry Paulson Jr. “Globalization and technology are driving a whirlwind of change. Now more than ever, there are so many opportunities, in so many different […]
February 29, 2000
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