Industry
This year marks the fifth time in 20 years that the Ontario auto insurance product will be reformed. But what truly needs to change is the cycle of crisis and reform that leads to escalating costs for insurers and higher rates for consumers.
By Don Forgeron | April 30, 2009
4 min read
Ontario insurers looked to the Ontario regulator to diagnose and cure the province's ailing auto insurance product. And while they hail the province's diagnosis, the treatment, they say, isn't strong enough to keep insurers from having to raise consumers' auto insurance rates.
By David Gambrill, Editor | April 30, 2009
18 min read
UPCOMING EVENTS: FOR A COMPLETE LIST VISIT
April 30, 2009
Zurich Financial Services chief economist Daniel M. Hofmann travelled from Switzerland to meet with Canadian insurance industry leaders the week of Apr. 13. Hoffman presented to audiences in both Montreal and Toronto, and provided his outlook on the state of the economy and the impact of the financial crisis on our industry. Along with his […]
1 min read
Toronto’s financial district was filled with the sounds of Mark ‘Bird’ Stafford, as CCR celebrated its 8th Annual Blues Night. Guests, or ‘cats,’ shed their winter blues and welcomed spring while sampling hors d’oeuvres and bevies.
The Honourable Order of the Blue Goose International, Ontario Pond held its 9th Annual Scotch Nosing at the Rosewater Room in Toronto. More than 150 guests attended the sold-out event and were treated to some of Scotland’s rarest and finest single malts, along with a four-course meal. Ed Patrick, one of Scotland’s finest international scotch […]
Lecavalier has launched the first online catalog of recycled auto parts. The site will allow everyone to save an average of 50%, compared to the cost of an original new part, according to the company. Additionally, the purchase of a green product helps to prevent waste. Lecavalier recycles more than 12,000 vehicles that have been […]
By Canadian Underwriter | April 30, 2009
2 min read
More than 600 collision centre owners, managers and technicians have graduated from PPG’s Green Belt Training program. The training is a four-day comprehensive program blending Lean Six Sigma fundamentals and practical application implementation detail. Key program elements include: • success factors that allow some organizations to thrive in rapidly changing environments;• use of simulation games […]
The drop in insurers’ investment returns and assets values will lead to a capacity crunch that will inhibit insurers from underwriting higher levels of business in a market where rates are becoming more profitable, said David M. Thompson, vice president and operations manager of FM Global’s Toronto operations.Thompson spoke to delegates of the CIP Society’s […]
Longevity is a unique feature of Canada’s current recession and the country can expect to go three years without growth, Warren Jestin, senior vice president and chief economist of Scotiabank Canada, told insurance industry representatives attending the CIP Society Symposium 2009. “This is not a wind sprint, it’s a marathon,” Jestin said of the anticipated […]
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