Industry
As everyone in the industry is well aware, there has been no shortage of government and public attention on auto insurance during the past year in Atlantic Canada. Now that this attention has brought about product reform in every province, some governments, unfortunately, are beginning to set their sights on other lines of insurance.
By Don Forgeron | September 30, 2004
5 min read
Risk
Thanks, Dave and Brian. That was a good presentation. Our members appreciated it,” Al said. I smiled at him, grateful that the presentation had gone down so well. Al, who in addition to running his own highly automated and successful brokerage, was also the current president of his local independent brokers’ association. The association had […]
By Axiom | September 30, 2004
10 min read
Home
Has the insurance industry reached the elusive goal where brokers effortlessly manage clients' needs and connect with ease to insurance companies? The belief that we are getting there is being driven not just by the launch of the Centre for Study of Insurance Operations' (CSIO) Internet-based "portal", but also with significant developments made by the leading broker management systems (BMS).
By John Belyea | September 30, 2004
6 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
September 30, 2004
4 min read
U.S. insurers posted an impressive US$9 billion underwriting profit for the first six months of 2004 compared with a loss of US$2.7 billion reported for the same period the year prior, according to industry data compiled by rating agency A.M. Best. Insurers lifted net income for the first six months of this year by more […]
2 min read
Fairfax Financial Holdings (TSX: FFH) says it will buy back up to 950,000 of its subordinate voting shares, representing just under 10% of its public float of over 13 million outstanding subordinate voting shares. “Fairfax is making this normal course issuer bid because it believes that in appropriate circumstances its subordinate voting shares represent an […]
1 min read
The global issue of “reinsurance recoverables” appears to have become less of a concern over the course of 2003, according to report just released by rating agency, Fitch Ratings. The report, which takes in results from 1998-2003, finds the industry’s exposure to reinsurance grew much less over 2003 than in the previous five years. Overall, […]
An attempt by Blockbuster Inc. customers to launch a class action suit against the video store chain over its fees has been blocked by the Quebec courts.Blockbuster announced this week that after a two-week hearing, the Quebec Superior Court had not only dismissed the lawsuit, but would order the plaintiffs to pay Blockbuster’s legal fees. […]
By Canadian Underwriter | September 30, 2004
Claims
Many insurers and reinsurers and beginning to count the costs of the 2004 Atlantic hurricane and Pacific typhoon season, and preparing investors for the impact on financial results.One of the hardest hit is Bermuda-based Renaissance Re, which says its third quarter earnings will be hit with a US$425 million loss from the four Florida hurricanes […]
Aon Corp. is seeking a new CEO with news of the departure of CEO Patrick Ryan. While Ryan will remain as CEO until a successor is found, he also plans to maintain his role as chair of the board even after he leaves the CEO role. President and COO Michael O’Halleran has decided not to […]
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