Industry
Lloyd’s of London has announced an increase in its "central fund" premium levy which is charged against syndicate members by 0.9% to the 2% level. The new rate becomes effective from next year and will run through to the end of 2003, the insurance market says.The additional income generated will boost the central fund coffer […]
By Canadian Underwriter | October 2, 2001
1 min read
Winnipeg-based auto collision repair operator The Boyd Group Inc. (TSE: BYD.A) has acquired AWC Collision Center which consists of four operations located in metro Seattle and Tacoma within the U.S. state of Washington. The terms and purchase price of the acquisition were not disclosed.Boyd will, however, issue about 143,000 class-A shares at a value of […]
After six years at the helm, the head of British Columbia’s public insurer is stepping down. Thom Thompson has been president and CEO of the Insurance Corporation of B.C. (ICBC) since 1995, and his retirement comes amidst a torrent of changes at the public insurer.Speculation has loomed that the B.C. auto market will be privatized […]
The last few months have seen a number of key breakthroughs in the Insurance Bureau of Canada's (IBC) campaign to open up the B.C. auto insurance market. We have broken through barriers that many said were impossible to overcome, and now stand closer than ever to seeing B.C. consumers enjoying full competition and choice in auto insurance.
By Dennis Prouse, government affairs manager Pacific region, IBC | September 30, 2001
5 min read
58www.canadianunderwriter.ca CANADIAN UNDERWRITER / OCTOBER 2001
September 30, 2001
Recently published results would tend to suggest that the Canadian property and casualty insurance industry is continuing a long run of poor underwriting results. Indeed, it has been many years since the industry as a whole could boast about an underwriting profit. Most carriers continue to run combines loss ratios well in excess of 100%. With one or two exceptions, even best of breed carriers are running at just under 100%. It is therefore no wonder that the industry has struggled to attract new capital over the last few years.
By Gordon Dunn, vice president of business development at The Innov | September 30, 2001
6 min read
The inviting smell of cooking hamburgers wafted in the warm sunny air as I walked across the park. A dozen large barbecues were lined up side-by-side, each with a smother of patties sizzling away. Off to another side there was a giant drum filled with cobs of corn gently bubbling in boiling water. A large […]
By Axiom | September 30, 2001
9 min read
The winds of change are sweeping across the property and casualty insurance industry. Some of the changes have been "blowing in the wind" for some time, while others are relatively new. For example, increasing consolidation in the industry, as well as moves by brokers to diversify and expand their product offerings. New changes include the liberalization of Canadian financial regulations, demutualization of many firms, and technical advances that could lead to a single-entry, multiple company interface for brokers.
By Kevin Rosen, insurance practice director at Silverline Technolog | September 30, 2001
George Anderson, CEO of the Insurance Bureau of Canada (IBC), has announced his retirement from the organization, effective from the beginning of July of this year. Anderson joined the IBC as president in 1992. “It has been a wonderful time to work at IBC, and we have accomplished some remarkable things. But, to my mind, […]
$15.5 billion Northridge Earthquake (1994) $15.3 billion Hurricane Hugo (1989) $4.2 billion Hurricane Andrew (1992) $15.5 billion Northridge Earthquake (1994) $15.3 billion Hurricane Hugo (1989) $4.2 billion Hurricane Andrew (1992) $15.5 billion Northridge Earthquake (1994) $15.3 billion Hurricane Hugo (1989) $4.2 billion In the face of rising loss estimates, insurers worldwide are beginning to process […]
3 min read
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.
