Industry
Anthony Clark International Insurance Brokers Ltd. has settled a previously disclosed lawsuit filed by James Bonfiglio claiming the company failed to honor a stock option agreement in October, 1998. In its 2003 yearend results, ACL reported a $515,000 judgement had been made against the company, but that it would appeal that judgement. The terms of […]
By Canadian Underwriter | June 20, 2004
1 min read
Brokers should have more technology options coming their way for web-based interaction with insurers, but those systems need not be exclusive of the CSIO portal, attendees of the Toronto Applied Systems Client Network (TASCNet) conference heard recently.While Applied Systems is building interest in its online WARP system, the CSIO also took part in the two-day […]
2 min read
Comments made the New Brunswick NDP leader Elizabeth Weir are off the mark, says the Insurance Bureau of Canada (IBC).Weir stated that insurance rate decreases in the province were amongst the lowest in the country, but the IBC says in fact when rate decreases currently filed by insurers are approved, N.B.’s rates will actually have […]
The mega-mergers of St Pauls/Travelers and John Hancock/Manulife are a signal the industry should expect increased consolidation, say insurance executives and analysts.Two-thirds of those responding to the survey, which was taken as part of Standard & Poor’s annual insurance conference in New York this week, say consolidation will continue, while 71% say debt and equity […]
By Canadian Underwriter | June 17, 2004
While the outlook for North American insurance holding companies remains stable, their counterparts in the reinsurance sector can expect downgrades to outweigh upgrades in the near future, says rating agency Standard & Poor’s. Despite continued rate increases, S&P has extended its negative outlook on the reinsurance sector for the sixth consecutive year on the back […]
A new study by the American Automobile Association’s Foundation for Traffic Safety estimates five deaths and 607 injuries were the result of car accidents due to road debris in Canada in 2001. In fact, between 1999 and 2001, the AAA speculates 30 fatal car crashes were the result of debris in the road.The study, which […]
By Canadian Underwriter | June 16, 2004
At long last, the U.S. commercial lines sector has seen its outlook revised by rating agency Standard & Poor’s to stable, in line with the personal lines outlook.S&P points to a “delicate balance” between earnings growth and legacy reserving issues still hampering the commercial lines industry.2003 saw 10.7% premium growth in commercial lines, with S&P […]
By Canadian Underwriter | June 14, 2004
For health reasons, the president of Groupe Promutuel is stepping down. Mario Fortier has been with the board of directors and executive since 1992, named vice president in 1993, and in 1998 moving into the president’s role. Groupe Promutuel is currently accepting applications from its 34 mutual insurer members to fill the role, which will […]
By Canadian Underwriter | June 13, 2004
Following a decision by the Alberta Securities Commission (ASC), the founders of Anthony Clark International have been ordered to pay fines totaling $80,000 and been banned from the markets for six years each.Brothers Luciano John and Secondo Pietro Podorieszach face the penalties after a panel of the ASC found them guilty of artificially inflating the […]
The Canadian Insurance Congress kicks off Monday in Quebec City, with the annual “economic outlook” by CIBC World Markets chief economist Jeff Rubin and PACICC CEO Paul Kovacs. Converium CEO Dirk Lohmann will discuss reinsurance trends, while on Tuesday perennial guest speaker Lee Samis of Samis & Co. will tell insurers to “let the customer […]
By Canadian Underwriter | June 10, 2004
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
