Industry
Some property & casualty underwriters have questioned client relationship management's (CRM) validity. Others have suggested that the client relationship process has evolved to "commodity status" and therefore CRM offers little competitive advantage. However, new 2003 market research suggests otherwise - understanding customers remains as relevant as ever.
By Robert Angel | August 31, 2003
5 min read
Risk
Dear Editor, Don Callahan is likely correct in his statement that “I cautiously (my emphasis) add that Canadian licensed reinsurers, regardless of the precarious position of their parents, will have sufficient capital to support run-offs view of strong scrutiny in this country” (CU July 2003 “Reinsurance Perspective: 2004 Treaty Outlook”) However it is critical for […]
August 31, 2003
Auto
Each Thursday this summer, members of the insurance industry participated in the Great Ontario Salmon Derby, hosted by Blakeney Henneberry Murphy. Launching from Port Credit, the motley crews vied for the biggest catch, with AIG leading as of mid-August. Leading in the salmon and trout categories at that time was Varma Singh. *************** CARSTAR Automotive […]
1 min read
The insurance industry lost a long-time friend recently with the passing of John (Jack) Lawrence Charles Lyndon. Born in 1934, he was called to the Alberta Bar in 1962, and later served as Deputy Minister of Consumer & Corporate Affairs under Alberta Premier Peter Lougheed. In 1978 he became president & CEO of the Insurance […]
The Ontario government has formally proposed additional changes to the auto insurance system on the heels of implementation of Bill-198. The program includes a reduction in the premium tax from 3% to 2%, which the government says should save policyholders up to $90 million. Other features include basing benefits claims only on income reported to […]
Royal & SunAlliance Canada confirms the retirement of president and CEO Larry Simmons. Simmons took over the top spot in 2001, having previously served as COO. He will continue to head up the company until a replacement is named. The Innovation Group (TiG) welcomes Joseph Perno as an advisor. He recently retired from his role […]
2 min read
Toronto-based Northbridge Finan- cial Corp. (TSX: NB), part of the Fairfax group, increased net earnings by 250% to $57.5 million for the second quarter of this year compared with the $16.4 million shown for the same period in 2002. The latest earnings equal $1.16 a share versus the 36 a share for the comparable period […]
Broker consolidator Hub Inter-national Ltd. (TSX: HBG) increased second quarter revenue by 29% year-on-year to US$74.1 million, while net earnings fell to US$10.1 million for the same period compared with the US$10.7 million reported at the end of June 2002. As a result, earnings saw a modest decline to 31 a share for second-quarter 2003 […]
Featured among reform changes to Newfoundland’s auto insurance system is optional coverage for minor pain and suffering, as well as a rate freeze imposed on insurers. This follows on the heels of the other Atlantic provinces in introducing changes to tackle rising auto insurance rates. The rate freeze presented in the Newfoundland package is for […]
Kingsway Financial Service Inc. (TSE: KFS) reported a return on equity of 18.2% for the 12 month period leading to the end of the second quarter of this year. This compares with the 11.8% ROE generated by the insurer for the comparable period for 2002. Kingsway’s net income for the latest quarter grew by 68% […]
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