Risk
The small to medium-sized enterprise (SME) business segment dominates the Canadian economy. Yet, it is a marketplace which property and casualty insurers have in the past experienced varied success, with not all carriers having expressing wholehearted enthusiasm at developing coverage solutions appropriate to the needs of these insureds. The reaction of insurers in the most recent hard market pricing cycle bears testimony to the inconsistency which some insurance companies have approached underwriting of the small to mid-sized business marketplace. But, with renewed pricing stability having being achieved in many commercial lines, we believe that a concerted effort is now needed to provide long-term and consistent coverage solutions to the SME sector.
By Mike Jakeman, vice president of commercial insurance at Royal & SunAlliance Canada | March 31, 2005
4 min read
With the hard market all but over, Canada's insurance "wholesale" market is facing increased competition from standard carriers. What will this mean for brokers? And, how will the specialty firms adapt?
By Tom Talbot, president of The Wholesale Insurance Group | March 31, 2005
5 min read
The group insurance segment of the property and casualty insurance industry was one of the few places clients could find some shelter from the large premium increases during the recent hard market. Posting generally better loss ratios and offering steadier rates, many group insurers experienced considerable growth in premium volume. They also used the past three years as an opportunity to "fine tune" risk classification. But, as the market softens, the question now is who will be able to continue this growth - while keeping strict criteria for a "homogenous" group definition?
By Craig Harris | March 31, 2005
9 min read
The magic word for auto insurance in Atlantic Canada right now is "stability". As an industry, we have achieved stability in most of the region, or are very close to it, and must now work hard to maintain this environment.
By Don Forgeron, vice president Atlantic region at the Insurance Bureau of Canada | March 31, 2005
6 min read
In the wake of the broker compensation controversy which has rocked the commercial insurance industry in recent months, risk managers met at the recent Ontario Risk & Insurance Management Society "Professional Development Day" filled with questions and seeking solutions to improved relationships with their broker and insurer partners.
By Vikki Spencer | March 31, 2005
Auto
People treat you differently when you are an elephant. Everyone wants to high-five you, dance with you or hug you – not reactions to which we in the insurance industry are accustomed. When you are a pudgy pachyderm, most people see you and smile. For three weekends in February, I was “Elmer the safety elephant” […]
By Al Maggi, a senior communications officer at the Insurance Bureau of Canada (Toronto) | March 31, 2005
Brokers are always looking for new clients. Some just happen to look in the wrong places. There is a better and easier way to fill the “prospect pipeline”. How do you get sales leads? There are only so many strategies out there, and brokers have tried (and had limited success) with a number of methods. […]
By Rick Bauman, president of Bauman Consulting Inc. | March 31, 2005
Industry
"Focus" is a wonderful word - but from the results that many businesses create, it seems to be conspicuously absent outside of strategic conversations and perhaps the odd motivational speech.
By Chris Venn, president of Inventive Networks | March 31, 2005
Home
While traditionally audits have focused on the numbers, insurers are looking to understand the "why" and, more importantly, the "what to do about it" behind audits.
By Mike Laberge, president, Performance Imperative Inc. | March 31, 2005
Good to see you!” The smiled greeting came to me and my boss, Fred Wilson, from the president of the national industry association. The occasion was the official opening of the association’s new office, located in one of the city’s shining high rise towers. Fred was the manager of our insurance company’s downtown branch. As […]
By Axiom | March 31, 2005
10 min read
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