Industry
The website for State Farm Insurance Co. took top spot in the first Canadian survey of p&c insurance company websites. The survey, conducted by Toronto-based UBER analyze tested the thoughts of consumers and brokers on 50 Canadian sites. Coming in behind State Farm are Allstate, TD Insurance, Royal & SunAlliance and Kanetix (a site that […]
By Canadian Underwriter | April 3, 2003
1 min read
The U.S. operation of Toronto-based international claims services firm Lindsey Morden Group Inc., Cunningham Lindsey U.S. Inc., has agreed to purchase RSKCo Services.RSKCo is a owned by CNA Financial Corp. subsidiary Continental Casualty Co. Through the signed agreement to acquire, Cunningham Lindsey U.S. will get the claims management and related business of RISKCo that is […]
Commercial
Broker consolidator Hub International Ltd. (TSE, NYSE: HBG) has acquired a new Kentucky unit through its Hub International Midwest “hub” operation. Purchased is Madisonville, Kentucky-based brokerage Wilson & McPherson Inc.Wilson & McPherson, more than 135 years old, is focused on mid-size commercial clients, bringing in revenue of about US$500,000 annually. The brokerage will remain in […]
Risk
Instant price quotes are the number one priority of consumers in online insurance buying, says a new study by Toronto-based UBER analyzer. In a survey of consumer attitudes about online insurance buying, 28% said they would be willing to purchase home or auto insurance on the web, but that consumers are looking for very specific […]
By Canadian Underwriter | April 2, 2003
Insurers and reinsurers are becoming increasingly at odds over who should shoulder the burden on asbestos claims, says a new report from rating agency Standard & Poor’s (S&P). “Asbestos Driving a Wedge Between Insurers and Reinsurers” predicts the fighting will intensify in the coming months.”Disputes between insurers and reinsurers appear to be intensifying,” says Steve […]
In a new report “Asbestos: Too Hot to Handle for European Insurers?”, rating agency Fitch says asbestos reserving by European insurers will remain a drag on earnings for years to come. Fitch does not expect asbestos to cause solvency issues by and large, as insurers have some years to over which to fund the expected […]
2 min read
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Peel Region Police have arrested three men suspected of running a “chop shop” and the theft and “re-vinning” of vehicles in the Greater Toronto Area.In the fall of 2002, two stolen vehicles were recovered by police from a business on Royal Windsor Drive in Mississauga, Ontario. This led police to Woodchester Auto Sales in Oakville, […]
By Canadian Underwriter | April 1, 2003
Prior-year reserving and the stock market downturn have combined to drag SCOR Group into the red even deeper than predicted for 2002. The French insurer is posting a loss of EUR 455 million (Cdn$730 million), higher than the EUR 400 million (Cdn$640 million) forecast late in 2002, and worse than the loss of EUR 278 […]
The company’s semiannual meeting of our “broker liaison group” had gone well. These “BLG” gatherings were often referred to as the “bitching, lying and gloom sessions”, however, this one had moved along quite smoothly. Our president had first welcomed our roomful of leading brokers, and delivered a brief “state of the union” address including an […]
By Axiom | March 31, 2003
10 min read
Sweeping changes unlike any ever seen in the history of the insurance industry are altering the competitive landscape. Insurers, brokers and agents alike feel their future survival may depend on wise choices made today – but they are faced with a bewildering tangle of regulatory reforms, new technologies, shifting business models, multiplying delivery channels, and […]
March 31, 2003
5 min read
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