Industry
Hoping to stem the tide of auto insurance reform in Quebec, the Insurance Bureau of Canada (IBC) has launched a new website to discuss why the system should not be changed.The site, www.impactnofault.com, is intended to educate Quebec residents about what changing the current system a mix of government and private coverage could potentially mean, […]
By Canadian Underwriter | February 2, 2004
2 min read
Risk
What does a person's credit history have to do with the odds they are going to have an auto accident or a house fire? Insurers say plenty. Credit scoring, or the use of an individual's credit history in the rating process, has been used in the U.S. but not without causing political turmoil. Canadian insurers, on the other hand, have been staying under the political radar, using credit scoring on a limited basis for fear of inciting further government intrusion into the underwriting process.
By Vikki Spencer | January 31, 2004
9 min read
The longstanding business of insurance - whereby risk of loss is transferred for a price per a set contract - has withstood wars, disasters, politics and time. Yet, the business of risk transfer has not remained "timeless" in that market forces have adapted with the changing needs of a developing and ever advancing society. The growing popularity of "cat bonds" as a form of investment as well as that of risk hedging against large unexpected losses therefore should come as no surprise to insurers.
By Dennis Kuzak | January 31, 2004
5 min read
While insurer and other industry Internet-based portals have made progress in simplifying personal lines processing, this is not the case with commercial lines. Some companies are building proprietary websites for commercial quotes. While this may please smaller brokers, it represents two steps backward for those brokerages who had invested in automating their commercial lines. Fortunately, tapping into new Internet technology provides a solution to satisfy all brokers.
By Kevin Campbell | January 31, 2004
For many years, brokers have sought technology that could seamlessly integrate sales-side systems with financial service carrier back-offices. This "holy grail" of broker technology is not merely a distant dream - it is available today.
By Lee Slack | January 31, 2004
4 min read
A survey conducted by the Insurance Information Institute (III) of the 250 insurance management attendees of its annually held Joint Industry Forum (JIF), which this year’s event recently took place in New York, suggests that four out of five U.S. industry executives believe that profitability within the insurance community will be stronger this year than […]
By Sean van Zyl, Editor | January 31, 2004
8 min read
Home
It would seem in today's tough market environment that "flexibility" has become a competitive (perhaps survivalist) tactic for brokerages in responding to the shifting "marketscape". And, I have seen brokers respond in many different ways - with some of these responses having been very creative and surprising. "Wireless networking" is one such creative solution.
By Chris Venn | January 31, 2004
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.
January 31, 2004
TD Bank’s insurance arm, Meloche Monnex, has acquired the Canadian personal lines book of Liberty Mutual, a subsidiary of the Boston-based Liberty Group. The terms of the deal were not disclosed. Meloche Monnex, which sells personal home and auto insurance as TD Insurance Home and Auto as well as under its own name, will as […]
London, Ontario-based wholesaler Totten Insurance Group has bought August Group Risk Management, an underwriting office serving brokers of Aviva Canada. Totten Group CEO Ross Totten says AGRM will remain at its current location and become a division of Totten, continuing to serve its existing stable of 10 brokers with Aviva’s personal and commercial lines products. […]
1 min read
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.
