Risk
The insurance and risk management communities lost a friend with the passage of Barry Shakespeare. Most recently with Duke Energy (formerly Westcoast Energy), he is a past Canadian Risk Manager of the Year and past president of the Ontario and B.C. chapters of the Risk & Insurance Management Society. He is remembered by his wife […]
May 31, 2003
1 min read
Auto
The “Insurance Corporation Amendment Act”, which was recently introduced by British Columbia’s legislature will see the creation of a new body that will set price rate controls for crown insurer, the Insurance Corp. of B.C. (ICBC) on basic auto insurance. “The new structure takes politics out of ICBC rate-setting and ensures open, transparent and independently […]
Industry
E-L Financial Corp. Ltd. (TSX: ELF), parent of The Dominion of Canada General Insurance Co. and Chieftain Insurance, increased net income for the first quarter of this year to $11.1 million, or $2.89 per share, versus the $9.4 million in net income, or $2.44 per share, disclosed for the same period the year prior. This […]
New Alberta broker association president Mark Zemp says brokers want to be at the table for discussions of how to change auto insurance legislation. The recent Independent Insurance Brokers Association of Alberta (IIBAA) annual general meeting and conference in Jasper was not hampered by snowstorms hitting the province, but brokers are feeling left out in […]
2 min read
Claims
The Insurance Bureau of Canada (IBC) and Institute for Catastrophic Loss Reduction (ICLR) are doing their part to build safer communities. The IBC recently launched a program to honor “disaster-prepared” communities, while the ICLR unveiled the country’s first “disaster-resistant” home, both as part of National Emergency Preparedness Week. ***************************** Industrial Alliance Auto and Home Insurance […]
When you read the headlines these days, there is a sense of susceptibility and unease amongst top executives when it comes to the security of their critical information systems – most often the lifeblood of their organization. Whether it is computer viruses running amok, the theft of vulnerable hard drives, or the growing threat of […]
By Stephen McWilliam | May 31, 2003
3 min read
The Hartford Financial Services Group Inc. has sold the renewal rights to much of its US$700 million global property and casualty reinsurance business under HartRe to Bermuda-based Endurance Specialty Holdings Ltd. A statement released by Endurance says the deal will involve about US$400 million in annual premium, of which business written by HartRe Canada is […]
Kingsway Financial Services Inc. (TSX: KFS) saw net income rise by 50% year-on-year to $24.4 million for the first quarter of the current financial year compared with the $16.3 million reported for the same period in 2002. This translates to a 48% increase in diluted earnings of 49 a share against the 33 a share […]
As insurers await Bill-198 regulations, substantial problems remain within Ontario’s auto insurance system, says Mark Yakabuski the Ontario regional vice president of the Insurance Bureau of Canada (IBC). He recently spoke at the annual meeting of the Canadian Insurance Accountants Association (CIAA). While the legislation helps abate some of the costs associated with the healthcare […]
The Ontario School Boards’ Insurance Exchange has named Jim Sami as general manager and Attorney-in-Fact. He has over 20 years insurance experience, and began at the Safeco Claims School. Hub International shareholders have added a new independent director to the company’s board with the election of Frank S. Wilkinson, an independent consultant. Wilkinson is former […]
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