Industry
Broker consolidator Hi-Alta Capital Inc. (TSE: HIA) saw increased revenue and net income for the financial year ended December 31, 2001, the company’s sixth year of operation.Acquisitions played a key role in the company’s growth, with 9 agencies in 11 communities added to Hi-Alta’s Western Insurance Network last year, as well as the addition of […]
By Canadian Underwriter | April 4, 2002
1 min read
Stan Griffin, formerly the head of the Facility Association, has been selected to replace retiring George Anderson as president and CEO of the Insurance Bureau of Canada (IBC).Griffin began with the IBC in 1975 and rose to the position of vice president of its Ontario region, before moving to Facility in 1999. He returned to […]
By Canadian Underwriter | April 3, 2002
2 min read
Broker consolidator Hi-Alta Capital Inc. is once more growing its Western Insurance Network (WIN) through acquisition, as well as the establishment of a new office in southeastern Alberta. Six new agencies have been added to WIN with the purchase of Prairie West Financial Group, Gateway Agencies and Chase Canada.Hi-Alta is buying the insurance, investment and […]
By Canadian Underwriter | April 2, 2002
Saskatchewan’s public insurer is the latest addition to class action lawsuits being filed against insurers following the McNaughton v. Co-operators decision.Since the Supreme Court refused to hear Co-operators appeal of an Ontario court decision that says policyholders should be refunded their deductible if their car is written off after an accident and then sold for […]
By Canadian Underwriter | April 1, 2002
Vendor Applied Systems has appointed four new product managers. Dave DeGroot, Shannon Martin, Kathy Polizzi and Tony Villa bring almost 40 years of combined experience to their new roles. Kingsway Financial Services has named James Corcoran and J. Brian Reeve to its board of directors. Corcoran is a lawyer and former superintendent of insurance for […]
March 31, 2002
With the rise of high-profile court cases, particularly in the U.S., employment practices liability (EPL) has become a focus for the industry. The severity of EPL claims is growing, with many wondering when, or if, the trend will reach its peak.
By Chris Rebchuk, corporate risk underwriter at Company of North America | March 31, 2002
6 min read
Almost from the start of the Internet "boom", pundits prophesied the death of the middleman. Everyone from high-profile technologists like Nicholas Negroponte to columnists in Wired and Fast Company declared that insurance brokers and other market intermediaries were stuck on the fast train to obsolescence. But those predictions are being proved wrong as the Internet promises to enable brokers as never before.
By Andree Ryckman, a certified management consultant at Call Centre | March 31, 2002
Montreal-based insurer Optimum General Inc. (TSE: OGI.A) posted a net loss of $2.7 million for the 2001 financial year ended December compared with earnings of $168,000 reported for the previous year. This translates to a loss of 25 a share for the latest full year reporting period against the 2 a share in earnings made […]
Canadian property and casualty insurers ended the 2001 financial year with a meager 3% return on equity, with the final quarter industry results showing an even worse picture of a mere 0.5% return. Speaking at the recently held annual Swiss Reinsurance Co. Canada’s “Statistical Breakfast” seminar, the Insurance Bureau of Canada’s (IBC) chief economist Paul […]
3 min read
Broker consolidator Hi-Alta has added four new offices to its Western Insurance Network (WIN), including two in Alberta, and one each in BC and Saskatchewan. J.A. Buchan Agencies of Champion, AB, will be merged with Wes Fulton Agencies in nearby Vulcan, while Cochrane Insurance will eventually join Whittle Agencies in Cochrane, AB. The Prince George, […]
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