Industry
CEO panel discusses boundaries between brokers and agents
By David Gambrill | November 30, 2006
6 min read
Just a few of the 70-plus exhibitors who were working the show and showing their work at the 86th Annual Insurance Brokers Association of Ontario Convention and Exhibition held October 17-20 at the Sheraton on the Falls Hotel, Niagara Falls. The Guarantee Company of North America wins “The Best Exhibitor Award.” which The Guarantee Co.’s […]
November 30, 2006
1 min read
Sound underwriting has the edge on computer models when it comes to providing sensible insurance coverage for natural catastrophes
4 min read
These days, you might hear Ontario brokers saying they love the smell of regulation in the morning. It smells like…Victory. The Insurance Brokers Association of Ontario (IBAO)’s 86th convention in Niagara Falls did not manifest any signs of smug self-assurance. Still, brokers there were exhibiting signs of acknowledging that political fortunes seem to be smiling […]
By David Gambrill, Editor | November 30, 2006
3 min read
Canada’s average reported Directors & Officers (D&O) liability insurance limit was just under Cdn$71 million, according to a survey of 270 TSX/S&P companies. Hunters International Insurance, a Toronto-based company, conducted the study. It found the highest reported overall D&O limit in 2006 was Cdn$333 million, while the lowest was Cdn$4.5 million. “All of these figures […]
Weighing in on the Bank Act review, the C.D. Howe released a study in November that questions the current prohibition on banks selling most kinds of insurance in their branches. “A few years ago, the case for the prohibition was reasonable,” according to the study’s author, Mark R. Daniels, who has experience in the life […]
ING Canada Inc. (TSX: IIC) reported a 2006 Q3 profit of Cdn$156.8 million, down Cdn$46 million (or 22.7%) from the Cdn$202.8 million reported in 2005. “The decline from an exceptionally strong third quarter in 2005 reflects lower realized investment gains as well as a reduction in underwriting income driven by lower favourable prior-year claims development,” […]
Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) says its 2006 Q3 net income increased 19% over the past year — from US$31.3 million in 2005 Q3 to US$37.4 million in 2006 Q3. In addition, the company’s combined ratio improved to 97.2%, compared to 97.8% in 2005 Q3. The company’s underwriting profit improved to US$12.7 million in […]
Fairfax Financial Holdings Limited (TSX and NYSE: FFH) reported a net loss of US$359.2 million for 2006 Q3, and net earnings of US$68.4 million for the first nine months of 2006. The combined ratios of the company’s insurance and reinsurance operations for 2006 Q3 and the first nine months of 2006 were 98.5 % and […]
ARI Financial Services Inc., a fleet management company, has partnered with the CertifiedFirst Network. CertifiedFirst will serve as ARI’s collision repair service provider. Operated by PPG Industries, CertifiedFirst says it offers the breadth of coverage and service excellence to put ARI vehicles back where they belong–on the road. “This agreement promises tremendous benefits to both […]
2 min read
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