Industry
The traditional property and casualty (p&c) insurance industry is moving toward multi-channel distribution. The shift may not be as brisk as some industry observers believe is necessary to blunt the competitive challenge posed by the banks and others, even some traditional broker companies. Still, it is difficult to argue with the success that Canadian brokers are having in retaining customers in the face of an expanded range of distribution options already available.
By Jacinta Whyte, vice president of the personal insurance division | November 30, 1999
7 min read
Most people in the industry think he has lost his marbles, launching a new property and casualty insurance company in Canada from the ground up in what is widely seen as an overcrowded and cutthroat market. To say that Brian Johnston, who was the president of Liberty Canada Holdings until resigning in early 1997, is […]
By Sean van Zyl, Editor | November 30, 1999
5 min read
In a post NAEC media conference, VICC president Henning Norup says the organization has approved its first “after market” anti-theft deterrent system, where the device has been fitted to the vehicle other than the manufacturer. The Autowatch 329 Ti immobilizing device, a system developed by PFK Electronics based in South Africa, passed all of VICC’s […]
November 30, 1999
1 min read
The 1990s will likely go down as the most momentous period in the modern history of the property and casualty insurance industry, a senior executive with experience dating back to the post WWII era recently stated. From “riches to rags,” another executive referred with a note of irony to the industry’s course over the past […]
By Lowell Conn and Sean van Zyl | November 30, 1999
12 min read
Marketing, distribution and technology are no longer separate components of the insurance business, delegates were told at the Institute for International Research’s recently held Distribution & Marketing in Property & Casualty Insurance conference. Multi-distribution channels including call centers and the Internet are becoming the standard by which the successful insurers will be measured. And, with […]
By By Lowell Conn | November 30, 1999
For those who felt the market conditions of 1999 were worth a good cry over a beer, the year ahead is likely to be a very sober occasion, analysts warn. Results for property and casualty insurers for the final quarter of 1999 are expected to mirror the poor performance delivered for the first half of […]
4 min read
The issues of broker sole occupation and the current restrictions applying to brokerage ownership will likely be among the top priorities on the Registered Insurance Brokers Association of Ontario’s (RIBO) 2000 agenda with regard to regulatory changes currently under discussion with Ontario’s insurance regulator. Both items have been move ahead on the priority scale by […]
3 min read
The recently held Insurance Corporation of British Columbia's (ICBC) auto repair symposium drew focus on the forces of change sweeping through the industry, in particular the close relationship that exists between property and casualty insurers and shop operators. Similar to the cost-efficiency driven rationalization occurring across other provinces, B.C.'s own market should be preparing for change if the existing independent players plan on surviving into the new millennium, the speakers warn.
By Brian Harper, editor of Bodyshop Magazine | November 30, 1999
Prices will firm up and standard insurers will tighten underwriting rules, Kingsway Financial Services Inc. president Bill Star says, addressing media and stakeholders at the company’s first annual Analyst & Investor Day. “The result could see more business bypassing standard insurers to the non-standard market,” he adds. Through the morning, the company’s U.S. and Canadian […]
New York City-based Cybersettle.com, Inc. — an online company that resolves insurance disputes — has set up shop in Canada, settling its first Canadian dispute in late October. The website saves insurers and insureds the cost of court action, with both parties exchanging statements of claim and three different settlement offers. The website evaluates the […]
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