Industry
Insurer AXA Canada has sold its book of commercial trucking business, consisting of ten vehicles and more, to specialty insurer Kingsway Financial Services Inc. The book is valued at about $23 million in annual premium. As part of the arrangement, Kingsway will pay AXA an “overriding commission” of an undisclosed amount depending on the amount […]
May 31, 2000
2 min read
Larry Simmons is stepping into the role of president and COO of Royal & SunAlliance Canada, effective with the departure of Linda Matthews later this year. Simmons is currently COO of commercial insurance for the company’s US operations and has been with R&SA since 1988. The company has also announced the promotion of Terry Broderick […]
The world of repair shops and front-line collision damage appraisers is very different to that of the corporate insurance industry. A closer understanding of the challenges faced by both sides is clearly needed. In fact, with both bodyshops and insurers facing extremely tight operating margins in the highly competitive auto repair market, it can only […]
By John Norris, executive director of the Hamilton District Autobod | April 30, 2000
6 min read
In April, the Canadian government stopped underwriting domestic credit insurance. This is a welcome response to our ongoing industry lobby. This breakthrough shows that a persistent and sustained effort is the key to eventually convince governments to also exit other insurance businesses across Canada.
By Paul Kovacs, Senior vice president at the Insurance Bureau of Ca | April 30, 2000
5 min read
With recent changes having been introduced by the Financial Services Commission of Ontario (FSCO) to insurer market conduct self-audits, there is a sense that the regulator is toughening its position on reporting non-compliance which could have serious ramifications for the insurance industry.
By James Cameron, president of Cameron & Associates Insurance Consu | April 30, 2000
This year’s Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference, which was recently held in Ottawa, drew focus on the need for the brokerage community to unite in the face of rapid consolition and the technological changes sweeping through the insurance industry. In presenting his opening speech, IBAO president Ken Orr […]
By Sean van Zyl, Editor | April 30, 2000
If you are a small independent insurance broker doing business in today's market, you are no doubt feeling uncertain about your future. With the advancement of direct writers and the broker network consolidators, who could blame you. However, for those in the brokerage community willing to embrace technology advantages, the future can be a bright one.
By Brian Thompson, president of SurNet Insurance Group | April 30, 2000
3 min read
The recent acquisition of broker network consolidator Canada Brokerlink by insurance company Allianz Canada appears to have set off a series of fireworks on the insurance industry’s skyline — an event which could result in a significant change in the current balance of power on the issue of client ownership. As one industry insider source […]
Legal action against insurance companies in the U.S. for alleged unauthorized use of aftermarket parts in vehicle repair have bubbled up into Canada. Within months of a successful $1.2 billion class action in Illinois against State Farm Insurance, similar suits have been filed in Quebec against AXA Canada, Groupe Desjardin and ING Canada, and in […]
By David Carr | April 30, 2000
8 min read
The Fourth Annual Women in Insurance Cancer Crusade (WICC) dinner was held Wednesday, March 29 at the Toronto Marriott Hotel. Pat Trywhitt, of Insurance Portfolio Inc., was the first ever recipient of the Lew Dunn Memorial Award for outstanding volunteer work. The annual award is named after Lewis Dunn, past president and chief executive officer […]
April 30, 2000
1 min read
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