Industry
Hurricane Irene, which moved from the Caribbean into southwest Florida with winds gusting at 75 miles an hour, dumped more than 18 inches of rain and caused widespread flooding in mid-October. The damage inflicted by Irene to the U.S. eastern seaboard follows closely on the heels of Hurricane Floyd which also produced widespread flooding despite […]
October 31, 1999
2 min read
Technology was a dominant theme of the 79th annual IBAO Convention as Ken Orr, president of the association for the 1999/ 2000 term, issued a cautionary tone on the industry’s interface future. Speaking at the convention’s final day luncheon, he says development of single entry multiple company interface (SEMCI) has become critical to achieving the […]
As an industry within the personal financial services sector, our customers don't like us very much. To tell you the truth, I don't blame them.; The SAME PRODUCT,
By Chris MacKechnie, a consultant at Information DesignWorks | September 30, 1999
4 min read
In a deal valued at $139.5 million, CGU Canada Ltd. has purchased The GAN Company of Canada Ltd. from its French owner GAN International. GAN Canada is the 22nd largest property & casualty group in the country with net written premiums for 1998 of $195 million, amounting to just over 1% of the total market. […]
September 30, 1999
Ontario's collision repair industry is undergoing fundamental change -- however, it is a change that spells good news for a besieged industry, insurers as well as a beleaguered consumer.
8 min read
Does the next millennium begin officially on January 1, 2000 or January 1, 2001? That debate is better left to the academics. What is certain is that January 1, 2000 is the date computers must recognize. It is also the date which could signal the beginning of the biggest litigation attack to hit North America. […]
By Steve Hammond, leader of commercial underwriting practices at Ro | September 30, 1999
6 min read
If anyone harbored doubts of the political clout capable of the independent broker movement in protecting its business turf, such a notion would have been soundly thrashed by the highly effective campaign wielded against the banks in the latest round of federal regulatory reform of financial services. The federal government’s white paper on financial services […]
By Sean van Zyl, Editor | September 30, 1999
Canadian and U.S. property and casualty insurance results for the first half of 1999 show a marked decline in earnings, primarily due to weak investment returns and sluggish premium growth. Both the Canadian and U.S. industries witnessed a rise in loss ratios for the second quarter when compared with the figures for the same period […]
3 min read
Co-operators General Insurance Company has released its second quarter results showing a marked improvement in its operating ratio over last year’s figures. The combined ratio of claims and operating expenses dropped to 98.5% during the second quarter of 1999 compared to 103% during the same quarter in 1998. Gross written premiums in 1999’s second quarter […]
1 min read
Brian Johnston, the former president of Liberty Canada Holdings and Cigna Insurance Company of Canada, has launched a new low-cost general insurance company, Markham General Insurance Company. The operation is capitalized at $20 million. Financially backed by a group of 22 brokers and an U.S. private investment fund arranged by managers Dailey & Partners, the […]
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