Industry
Like the voyaguers forging new territory, collision shop owners and insurers were looking for a road map to the future of the auto claims economy at the 5th CARSTAR Industry Conference held recently in Mont Tremblant, Quebec. The voyageurs used "Inukshuk", rock formations, to mark their path, but it may not be so easy for the two linked industries. With insurers facing rising claims costs and bodyshops facing a shrinking market, speakers urged greater communication as the key to both sides of the claims process achieving improved profitability.
By Vikki Spencer | September 30, 2002
5 min read
Personal auto insurance – specifically the losses and subsequent pricing actions taken within the private sector markets has become a political “hot potato” almost countrywide. Brokers and consumer groups from the east coast through to the west are beginning to grumble with not just the dramatic upward price adjustments, but also the availability of capacity. […]
By Sean van Zyl, Editor | September 30, 2002
4 min read
U.S. rating agencies Moody’s Investors Service and Fitch Ratings have issued negative outlook reports for the global reinsurance sector, citing limited medium to long-term earnings growth potential despite the substantial rate increases introduced by companies during the course of this year. A slowdown in growth may spur a new round of mergers and acquisitions within […]
September 30, 2002
2 min read
In the July 2002 CU article “Rates Keep On Trucking”, it stated that AXA Canada has withdrawn from trucking coverage. The company still writes for trucks of 9 power units or less.
1 min read
To celebrate our 75th year in business, my insurance company had staged a special anniversary party at our head-office. There had been an open bar, mounds of hot finger food, plus a few mercifully short speeches. Some of our leading brokers, independent adjusters, lawyers, and other friends of the company had come along and said […]
By Axiom | September 30, 2002
9 min read
The power of the broker lobby force has been evident in the ongoing bid to keep banks from selling insurance through their branches. Now, in a trying Ontario auto market where capacity is scarce and prices hardening, brokers are again being asked to make their voices heard. Incoming Insurance Brokers Association of Ontario (IBAO) president Jim Hawryluk will be among those leading the charge as brokers join insurers in encouraging legislative reform of the Ontario auto product.
While British Columbia escaped much of the auto underwriting hardships experienced by many of the other provinces, impact of the "hard market" has definitely been felt - which has kept brokers busy. The province's brokers also await the outcome of the B.C. government's decision regarding deregulation of the basic auto product.
By Don Ungaro, president of IBABC | September 30, 2002
The theme from panelists at a recent insurance conference in Toronto was clear - it's all about execution in today's tough marketplace. It was a message that even keynote speaker Rob Sampson warmed up to.
By Craig Harris | September 30, 2002
At the recently held Insurance Brokers Association of Canada (IBAC) AGM, newly elected president Brian Gilbert used a humorous analogy between the geography of his home province, Manitoba, in outlining the association’s long-term political cause to protect the legislative rights of the independent brokerage community: “As brokers, we have made it clear to politicians for […]
3 min read
Despite an encouraging half-year financial return, The Co-operators General Insurance Co. (TSX: CCS.PR.A) saw its net income drop for the second quarter reporting period as claims costs rose. The company’s net income fell to $7 million for the quarter ending June compared with the $11.5 million reported for the same period a year earlier. This […]
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.
