Industry
Consumers are facing a global fiscal crisis featuring a severity of the type that only their grandparents have seen, and the current reigning soft market should be the first casualty, insurance brokers heard at the 88th annual convention of the Insurance Brokers Association of Ontario (IBAO).In reacting to the crisis, insurance companies should take appropriate […]
By Canadian Underwriter | October 27, 2008
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Attraction and retention of the millennial generation should not be the focus of employers, but rather maximizing the potential all of the workers from different generations including Boomers and getting them to work together is the key to successful strategies.Max Valiquette, president and CEO of the marketing firm Youthography, delivered the message to delegates of […]
Insurers and brokers need to think more like judges when they read or draft insurance policy contracts, because judges will ultimately determine whether or not policy coverage exists in a claim situation, a litigator told brokers attending an education session at the 88th annual convention of the Insurance Brokers Association of Ontario.Tom Donnelly, a founding […]
David Brosnan has been appointed CEO of ACE Canada, contingent upon obtaining a work permit from Citizenship and Immigration Canada.Karen Barkley will now serve as COO of ACE Canada and president of ACE Canada’s property and casualty business, a release says. She has been with the company since 1992.Brosnan has been with ACE since 2005 […]
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Lower insurance industry net income may signal a turn in the insurance pricing cycle, according to a RIMS Benchmark Survey. This is despite the failure of two major hurricanes and a global credit crunch to derail the soft commercial insurance market in the third quarter.Property, with an 8.5% decrease in average premium, and general liability […]
By Canadian Underwriter | October 24, 2008
The Insurance Bureau of Canada’s board of directors will discuss whether the IBC’s mandate should be revised to include a discussion about distribution issues, Jean Francois Blais, president and CEO of Axa Canada said.Blais was a member of the CEO panel during the Insurance Brokers Association of Ontario’s annual convention in Toronto.The question ‘Do you […]
When it comes to using a reliable indicator to figure out which Canadian P&C insurance company is best-positioned to survive the worst financial crisis to hit the North American markets since the Great Depression era, does size matter?The answer, as expressed to brokers attending the 88th annual general meeting of the Insurance Brokers Association of […]
The Insurance Brokers Association of Ontario (IBAO) has asked the province’s insurance companies to sign a memorandum of understanding, promising, in effect, that the insurers will not purchase a majority control in brokerages.In Spring 2008, IBAO leadership suggested it would approach the province’s insurance regulator and ask it to re-establish and enforce a “control-in-fact” test […]
The insurance industry has been taking its old marketing techniques and just dumping it into a new channel the Internet and the approach will not work, Mitch Joel, president of Twist Image, told delegates at the Insurance Brokers Association of Ontario’s 88th annual convention.”Each month in Canada, there are 5.2 million searches on Google for […]
By Canadian Underwriter | October 23, 2008
Canadian financial institutions that have normal course issuer bids in place should consult with Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), before repurchasing shares pursuant to those bids, the regulator notes in an advisory. OSFI says it believes the current environment calls for increased conservatism in capital management. The practice […]
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