Industry
Ontario’s insurance regulator has issues a "cease and desist" order against the Myrtie Rose Benefit Program Inc. and the company’s four directors.The Financial Services Commission of Ontario (FSCO) says the benefits company is not licenced to sell insurance in Ontario. The issue applies to any agents of the company, as well as directors Myrtie Rose, […]
By Canadian Underwriter | January 2, 2005
1 min read
U.S. property and casualty insurers boosted net profitability for the first nine months of 2004 by 28.3% to US$26.7 billion compared with the US$20.8 billion reported for the same period a year ago, according to industry financial data released by the Insurance Services Office (ISO) and the Property Casualty Insurers Association of America (PCI). The […]
December 31, 2004
3 min read
Alberta-based broker network Western Financial Group says it has filed a prospectus with Canadian securities regulators to offer subscription receipts. The offering would apply to all provinces. The receipts will entitle holders to purchase one common share of Western stock (TSX: WES) upon completion of the company’s previously announced acquisition of Federated Life Insurance Co. […]
The flurry of initial public offering activity amongst non-standard auto insurance carriers shows just how far this sector has rebounded following disastrous results from 1999-2001, notes a new report by A.M. Best. In a special “Then and Now” report on non-standard auto, the rating agency points to four successful IPOs by U.S. carriers – Infinity […]
2 min read
Igal Mayer has been appointed board chairman of the Insurance Bureau of Canada (IBC) for a two-year term. The Aviva Canada CEO is a chartered accountant, honorary CIP and graduate of the University of Toronto. Crawford Adjusters Canada has named John Sharoun as COO, to assist CEO Glenn Gibson in implementing the firm’s three-year strategy. […]
Just as insurers have faced massive change in the auto insurance business over the past several years, so have their collision repair partners. As body shop owners and their business partners met recently for the inaugural PPG CertifiedFirst Network Conference in Calgary, change management was very much the topic of choice. And speakers say that those who can keep pace with change will reap the rewards with both their insurer partners and, more importantly, with consumers.
7 min read
First things first - fixing cars is nothing like fixing people! However, there may be some similarities between the collision side of the auto claims economy and the healthcare side. Just as insurers and their auto bodyshop partners strive to provide quality repairs in a more efficient and effective manner, the stakeholders on the healthcare side need to begin to focus on their common goal - fixing people better and faster.
By Sam Malatesta | December 31, 2004
5 min read
My car’s headlights showed a wild blizzard of flying snow ahead of us. We slithered sideways turning the corner, and I spun the wheel in the opposite direction to straighten up. A car going the other way hooted its horn angrily then quickly disappeared into the wall of darkness behind. “Whoopsie, Dave!” my boss Fred […]
By Axiom | December 31, 2004
11 min read
The Registered Insurance Brokers of Ontario (RIBO) recently published its new regulations on broker disclosure. RIBO, the self-regulatory body for general insurance brokers in Ontario, is responding to controversy begun in the U.S. over the level of disclosure related to broker commissions, specifically contingent commissions. In its rules on “conflict of interest”, RIBO says brokers […]
This is the last installment of Canadian Underwriter’s Daily News for 2004 we will be returning on January 3rd with our regular coverage of Canadian insurance industry news.The staff of Canadian Underwriter wishes everyone a happy and healthy holiday season, and best wishes in the New Year!
By Canadian Underwriter | December 23, 2004
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