Industry
The first quarter financial results for U.S. insurers appears to confirm what many in the North American property and casualty insurance industry have come to suspect: that the pricing momentum of the “hard market” is rapidly disappearing like a wisp of smoke from a departing steamboat – leaving insurance companies standing forlorn on the dock. […]
By Sean van Zyl, Managing Editor | June 30, 2004
4 min read
Brokers should have more technology options coming their way for web-based interaction with insurers, but those systems need not be exclusive of the CSIO portal, attendees of the Toronto Applied Systems Client Network (TASCNet) conference heard recently. While Applied Systems is building interest in its online WARP system, the CSIO also took part in the […]
June 30, 2004
2 min read
Following a decision by the Alberta Securities Commission (ASC), the founders of Anthony Clark International have been ordered to pay fines totaling $80,000 and been banned from the markets for six years each. Brothers Luciano John and Secondo Pietro Podorieszach face the penalties after a panel of the ASC found them guilty of artificially inflating […]
1 min read
Commercial
The Insurance Corp. of B.C. (ICBC) has hired firm Ray & Berndtson Tanton Mitchell to find its new CEO following the announcement that Nick Geer will vacate the position. Geer joined ICBC as chair in 2001 and took over as interim CEO in 2002. Geer leaves the position at the end of June, to be […]
The Insurance Bureau of Canada (IBC) is taking its “Rest up! Save your neck” program to New Brunswick this summer, with university students across the province educating drivers on proper headrest adjustment. Sixteen students will staff exhibits at community events throughout the province, teaching proper headrest adjustment and handing out brochures. The industry hopes the […]
3 min read
Risk
While welcoming confirmation the New Brunswick government has abandoned the concept of public auto insurance, insurers remain concerned that reforms announced Tuesday will not help reduce the cost of providing insurance in the province.”We believe the government decision to preserve competition and choice is the right decision,” says Don Forgeron, Atlantic region vice president for […]
By Canadian Underwriter | June 29, 2004
The Alberta government is seeking input on potential changes to its Health Information Act (HIA). An all-party committee is reviewing the legislation, put in place three years ago to limit access to personal health information. A consultation guide is available at www.hiareview.assembly.ab.ca as well as information on submitting feedback. LAWPRO (Lawyers Professional Indemnity Company) is […]
In its comment on the Lloyd’s market, Moody’s Investors Service says based on the strong underwriting results currently posted by the market, investors could see returns of 5-10% of capacity for the 2005 underwriting year, on top of 12% returns anticipated this year.Overall, Moody’s says policyholder security at Lloyd’s is at its highest level in […]
U.S. property and casualty insurers have cause to celebrate, posting net income for the first quarter more than double that reported a year earlier, as rate increases over the past three years make their way to the bottom-line.Overall, net income for the quarter ending March 31, 2004 was US$13.3 billion, up from US$6.5 billion a […]
A study of financial services offshoring practices finds India remains the top stop, with over 80% of offshoring moving there. The study by Deloitte Research finds the offshoring trend is on the rise, up 38% this year over last.The top 100 financial services institutions are expected to offshore US$210 in terms of cost base by […]
By Canadian Underwriter | June 28, 2004
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
