Industry
Western Canada-based broker network Hi-Alta Capital Inc. (TSE: HIA) reported a 35% increase in net income to $465.5 million for the 2000 financial year compared with 1990’s $345.3 million. This equals earnings of 429 a share for 2000 (1999: 347) which rose at a more sedate pace of 24% year-on-year due to an increase in […]
May 31, 2001
2 min read
Risk
New Insurance Brokers of Toronto Region president David Forster (right) presents a plaque commemorating the service of immediate past president Michael Freedman at the association’s annual general meeting recently. Douglas G. Hogemboom has been appointed president and CEO of Empire Life Insurance Company and Concordia Life Insurance Company. He also joins the boards of E-L […]
April 30, 2001
1 min read
The past decade has been a time of transition for the collision repair industry, marked by a shrinking market and consolidation. Now the industry is seeking new alliances with the insurance industry in the drive to improve efficiency and increase customer satisfaction. As both industries head into the next decade, the pressure and the potential for success is increasingly dependent on the strength of those alliances.
By Sam Malatesta, vice president marketing & insurance relations at | April 30, 2001
5 min read
Speakers of an insurer/collision discussion panel hosted by the industry’s international education body I-Car at its recent Canadian national conference were provided with the stark theme of dealing with “reality”. On a particularly “realistic note” was the thick tension in the air of the predominantly auto bodyshop audience of which individuals at the various “refreshment […]
By Sean van Zyl, Editor | April 30, 2001
New marketing technologies and rising consumer concern of “information exploitation” by financial service providers has created a challenge for the insurance industry. Faced with new federal legislation under Bill-6, which affords information protection to individuals, insurers and their financial services counterparts will have to comply with specific legal requirements by set target dates over coming […]
By Carole Machtinger, chief privacy officer of Insurance Informatio | April 30, 2001
6 min read
Canadian automobile owners, insurance companies and law enforcement officials are looking for solutions to the rising cost of auto theft, which is estimated at more than $1 billion per year in this country. Many new developments in anti-theft systems have been made, but adoption rates have been slow and their effectiveness remains questionable. The latest developments in cellular tracking may be especially effective in combating the export of stolen vehicles, and new insurance incentives to drivers who install these and other devices are a key part of the solution.
By Linda Farha of Boomerang Tracking Inc. | April 30, 2001
4 min read
The writing is on the wall. The insurance industry must move online, and sooner rather than later. Or must it? And what form should this "movement" toward the Internet take? Speakers at the recent Strategy Institute P&C Super Summit offered a range of views on the potential for online success and disaster.
By Vikki Spencer | April 30, 2001
The Insurance Bureau of Canada’s (IBC) annual “Financial Affairs Symposium” held in Toronto served the stage for a new industry regulatory battle with the Office of the Superintendent of Financial Services (OSFI) over what many insurers regard as a “surprising turn” by the federal regulator toward reporting of discounted unpaid claims. In addition to increased […]
Financially troubled specialty insurer Queensway Financial Holdings Ltd. (TSE: QFH) has signed a deal to sell off the last of its assets, with a letter of intent to sell Ontario auto insurer Coachman Insurance Co. to Saskatchewan Government Insurance. At the same time, Queensway announced it will sell its shares of Queensway Investment Council Ltd. […]
Co-operators General Insurance Co. reports a boost in income for the last quarter of 2000, with after-tax net income almost doubling over the same period in 1999, from $8.4 million to $17.3 million. At the same time, the company’s combined ratio dropped from 105.3% for Q4 1999 to 101.8%. Part of this is attributable to […]
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