Industry
Castek Inc. has signed a letter of intent with Kingsway Financial Services to use its Internet-based ClaimsPath platform for its auto physical damage and property claims. “Our adjusters will be able to obtain multiple quotes from preferred vendors and track the entire claims process in real-time. We anticipate a 40% decrease in handling and at […]
November 30, 2002
1 min read
The licensing body for Ontario’s brokers is taking notice of the market availability crisis. At the recently held Registered Insurance Brokers of Ontario (RIBO) annual general meeting, outgoing president Joanne Brown says that concerns over the current tight market have been put forward by many brokers. “Through individual conversations with brokers and calls to the […]
2 min read
As insurers and brokers met at the recent Insurance Brokers Association of Ontario (IBAO) convention held in Hamilton, the mood was a far cry from the easy days of the soft market. Rising rates and "vanishing markets" have put a strain on broker/insurer relations. Added to this is the pressure of mobilizing the industry towards its Internet portal project. The mix is producing heated discussion about the industry's future direction.
By Vikki Spencer | November 30, 2002
6 min read
The Insurance Institute of Canada celebrated its 50th anniversary with a special dinner in Toronto recently. Welcoming guests is executive committee deputy chair Jan Tomlinson of Chubb. The event included the IIC board of directors, past chairs, sponsor company CEOs, guests from the CPCU and CII and institute directors.
The Registered Insurance Brokers of Ontario (RIBO) again saw the introduction of a new award, in the name of former president Donald W. Lambie (pictured receiving a plaque from current president Joanne Brown) to be presented annually to the person attaining the highest mark on the RIBO qualification exam. Also, top Level II qualifier Robert […]
Once more talented insurance professionals had a Night to Shine and raise funds for the Women in Insurance Cancer Crusade in the first Hallowe’en Benefit Bash in Toronto. Performing were the Accidental Benefits: Gary Gardner, Terry O’Brien, Lee Aldridge, Tom Golfetto, Laura Narby, Brian Hitchlock and Greg McCutcheon, joined by special guest Brad Quinn. Thanks […]
The Liberal B.C. government announced that it has temporarily opted against open competition in the province’s basic, mandatory auto insurance market. The provincial government delivered its long-awaited “Core Review” findings in investigating the operation of crown insurer, the Insurance Corp. of British Columbia (ICBC), with the view of deregulating the insurance market as part of […]
3 min read
Kingsway Financial Services Inc. (TSX: KFS) increased net income for the third quarter by 51% to $21.7 million from the $14.3 million made for the same period last year. This saw a 22% jump in earnings to 44 a share compared with the 35 a share shown for the third quarter of 2001. The company’s […]
Despite a declining underwriting loss for Canadian p&c insurers thus far in 2002, investment market declines are hitting balance sheets hard.In its quarterly “Perspectives” report, the Insurance Bureau of Canada (IBC) notes that in the last two quarters investment income has dropped $500 million. This muddied the impact of increased premiums and a lower loss […]
By Canadian Underwriter | November 29, 2002
Oakville, Ontario-based Pethealth Inc. has expanded its U.S. presence through two new distributors. The nation’s largest pet insurance provider has signed agreements with the U.S. largest union benefits provider, Union Privilege. Pethealth’s PetCare insurance program will be exclusively marketed to members of the American Federation of Labor and the Congress of Industrial Organizations starting at […]
By Canadian Underwriter | November 28, 2002
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