Industry
In May’s Moves and Views, Mabel Sansom was incorrectly identified as the executive director of the Insurance Brokers Association of Ontario (IBAO) rather than her true position of executive director of the Insurance Brokers Association of Canada (IBAC). It was also indicated in the announcement, as did several other media, that Sansom would be resigning […]
June 30, 2000
1 min read
Brokers across the country need to keep the pressure on federal and provincial legislators. This is the message Manitoba’s brokers heard at their annual conference in Brandon from the Brokers Association of Manitoba (IBAM) new president Gerry Corrigal. The recent release of the federal government’s new financial services legislation does not mean broker associations can […]
2 min read
Following a dismal performance for the 1999 financial yearend, Canada’s largest private insurer Co-operators General Insurance Company reported significantly lower earnings for the first quarter of the current financial year. Net income for the first three months of this year amounted to $2 million compared with $7.6 million reported for the same period the year […]
Rob Clarke, the newly elected president of the Independent Insurance Brokers Association of Alberta (IIBAA), says his organization is as prepared as it can be for the pending implementation of changes to that province’s Insurance Act. Foremost on Clarke’s agenda is the implementation of mandatory continuing education, expected prior to the February, 2001 licensing period. […]
By Vikki Spencer | June 30, 2000
3 min read
Following a string of global office restructurings among reinsurers, the Berkshire Hathaway owned General Re Corporation and Cologne Re have been amalgamated in name as one operation as GeneralCologne Re. “The essence of our direct reinsurance business model is our service to our clients and our excellence in underwriting…In order to do all of this […]
Following several months of rumor that the Canadian Imperial Bank of Commerce (CIBC) was looking for an exit strategy in divesting from its less-than-profitable property and casualty insurance interests, the bank appears to have finally found a taker — for $330 million. Quebec-based financial services group Desjardins Laurentian Financial Corporation has snapped up CIBC’s The […]
The torrential and almost record downpour resulting from a rainstorm which struck southern Ontario over the weekend of May 12th and 13th of this year is expected to cost insurers about $68 million in insured damages, according to preliminary figures released by the Insurance Bureau of Canada (IBC). And, almost a month later to the […]
Two of the public broker consolidator networks, Vector Intermediaries Inc. (V:VTE), and Hi-Alta Capital Inc. (TSE:HIA), have produced a mixed bag of financial results for the first quarter of this year. Vector’s revenue for the first quarter remained static at $3.067 million compared with that of the same period the year prior. However, the network […]
With increasing technological and market pressures coming to bear on the broker distribution channel, it is more important than ever for brokers to market their expertise and customer-service excellence, says Renate Mueller, new president of the Insurance Brokers Association of British Columbia (IBABC). In her first address to members, at the association’s annual meeting in […]
Fuelled by mergers, acquisitions, alliances and regulatory change, the idea of one-stop financial services shopping is becoming a reality south of the border. With caution, several insurers and brokers in Canada have broadened their focus to “test the market” on integrated product selling. Although traditional companies and the independent brokerage community have in the past […]
By Vikki Spencer | May 31, 2000
10 min read
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