Industry
Prices will firm up and standard insurers will tighten underwriting rules, Kingsway Financial Services Inc. president Bill Star says, addressing media and stakeholders at the company’s first annual Analyst & Investor Day. “The result could see more business bypassing standard insurers to the non-standard market,” he adds. Through the morning, the company’s U.S. and Canadian […]
November 30, 1999
1 min read
Kemper Canada has gone online with its HUON system, announcing their personal lines automobile and property markets are now being supported by The HUON Solution. “We now have the system to facilitate a winning environment,” says Judy Maddocks, president of Kemper. “As Kemper Canada introduces HUON over the coming months, we will start to experience […]
The Supreme Court of Ontario has ruled in favour of insurers who mounted a challenge against a City of Toronto bylaw outlawing insurers from directing their insureds to preferred bodyshops. “This is a big victory for the industry and for the insureds,” remarks one stakeholder, CGU Group Ltd. claims manager Wayne Roth. According to the […]
2 min read
Most people in the industry think he has lost his marbles, launching a new property and casualty insurance company in Canada from the ground up in what is widely seen as an overcrowded and cutthroat market. To say that Brian Johnston, who was the president of Liberty Canada Holdings until resigning in early 1997, is […]
By Sean van Zyl, Editor | November 30, 1999
5 min read
The 1990s will likely go down as the most momentous period in the modern history of the property and casualty insurance industry, a senior executive with experience dating back to the post WWII era recently stated. From “riches to rags,” another executive referred with a note of irony to the industry’s course over the past […]
By Lowell Conn and Sean van Zyl | November 30, 1999
12 min read
Marketing, distribution and technology are no longer separate components of the insurance business, delegates were told at the Institute for International Research’s recently held Distribution & Marketing in Property & Casualty Insurance conference. Multi-distribution channels including call centers and the Internet are becoming the standard by which the successful insurers will be measured. And, with […]
By By Lowell Conn | November 30, 1999
The recently held Insurance Corporation of British Columbia's (ICBC) auto repair symposium drew focus on the forces of change sweeping through the industry, in particular the close relationship that exists between property and casualty insurers and shop operators. Similar to the cost-efficiency driven rationalization occurring across other provinces, B.C.'s own market should be preparing for change if the existing independent players plan on surviving into the new millennium, the speakers warn.
By Brian Harper, editor of Bodyshop Magazine | November 30, 1999
3 min read
New York City-based Cybersettle.com, Inc. — an online company that resolves insurance disputes — has set up shop in Canada, settling its first Canadian dispute in late October. The website saves insurers and insureds the cost of court action, with both parties exchanging statements of claim and three different settlement offers. The website evaluates the […]
The Office of the Superintendent of Financial Institutions (OSFI), the federal government’s financial services watchdog, is unhappy with the current level of voluntary earthquake reserving committed by property and casualty insurers. OSFI special adviser Julie Dickson indicated at the recently held North American Conference (see our upcoming January issue for further conference details) that compulsory […]
The November Women In Insurance Cancer Crucade educational breakfast educated hundreds of insurance professionals on the challenges of living with serious illness. Attendees at the breakfast watched a dramatic production entitled ‘Handle With Care?’, which was based on a study with metastatic breast cancer patients. The ‘Handle With Care?’ production translates the research into a […]
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