Industry
Specialty insurer Kingsway Financial Services Inc. (TSE: KFS) reported a 48% increase in net income to $20.1 million for the nine month period ended September of this year compared with $13.6 million disclosed for the entire 1999 financial year. This produced a return on equity for the reporting period of 15%. The gain in earnings […]
November 30, 2000
2 min read
The federal government’s announcement of an early general election for November of this year has scuttled hopes of having Bill-38, the national financial services legislation, passed within the fall sitting of parliament, confirms Paul Kovacs, vice president of the Insurance Bureau of Canada (IBC). Introduced by Finance Minister Paul Martin last year as a “white […]
October 31, 2000
1 min read
In advance of its annual meeting this month, the Registered Insurance Brokers of Ontario (RIBO) has released a policy paper on the province’s proposal to remove the sole occupation requirement for brokers. RIBO favours changing the requirement to ‘principal occupation’, rather than removing it altogether, as has been suggested by the Financial Services Commission of […]
Eric Laity (pictured) of Burnaby, B.C. has been named that province’s Insurance Person of the Year for 2000. Laity, who has spent 40 years working in the claims end of the industry, is the first recipient named from outside the traditional private sector of the general insurance industry. He retired in June as education services […]
Dear Editor, I am writing with respect to your editorial which appeared in the August, 2000 issue of CU. I wish to correct your statement that I am opposed to the concept of a national financial services ombudsman. The federal government has taken an important first step in proposing the Canadian Financial Services Ombudsman. While […]
The Centre for the Study of Insurance Operations (CSIO) is taking action in its quest to develop a single-entry portal for brokers. At a recent Insurance Brokers of Toronto Region luncheon, CSIO president Klaas Westera says that a portal was necessary to allow brokers seamless access to insurance companies, including rate comparisons. Now, CSIO is […]
Following a grueling year of devastating performance across the various areas of business – weak rates, rising claim costs, higher expense ratios and volatile investment returns – Canada’s property and casualty insurers may have perhaps turned the corner for the better based on industry results for the first half of the 2000 financial year. Specifically, […]
By Sean van Zyl, Editor | October 31, 2000
11 min read
The strong market position of CGU’s Canadian operations should leave it untouched in the wake of the CGNU group’s decision to divest its U.S. general insurance operations. Mark Webb, president of CGU Canada says, “the Canadian operations clearly meet the strategic direction that CGNU wants to take, which is to be top five in the […]
Although the optimistic whisper of higher premium pricing echoes along the company corridors of both the Canadian and U.S. property and casualty insurance industries, the first half-year underwriting results from both countries hint at caution. While the Canadian industry benefited this year from a robust investment environment – thereby offsetting underwriting losses – this gain […]
By Joel Baker, general manager of A.M. Best Co., Canada | October 31, 2000
4 min read
Technology shopping-lists and three-page security policies are no longer an adequate network security planning method for an insurance company. It used to be information technology (IT) management would seek funding approval for firewalls, anti-virus tools, and the computers to run them on. This budget would determine the investment in security technology, with no formal means […]
By Ron Lepofsky, president of PTI Technologies Inc., and Tom Adler, | October 31, 2000
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.
