Risk
Equisure Financial has made application to amend the name of its wholly owned chartered trust company to Equisure Trust Company from Evangeline Trust Company. Insurance Technology Advisors Ltd., a Canadian insurance marketplace consulting practice, announced that Domenic Maggio has joined the practice as a senior partner. Ontario Risk and Insurance Management Society has chosen its […]
June 30, 1999
2 min read
Insurance companies were warned that the deadline for Y2K is nearly here, for both internal company systems and external coverage policies. At a morning session addressing all aspects of Y2K, TRAC Insurance Services Ltd. general manager Joel Baker revealed results from TRAC’s end of 1998 Y2K readiness survey. “Based on the data, I maintain that […]
Industry
The insurance industry is applauding the federal government’s just released white paper outlining the future of financial services competition in Canada. In line with insurer and broker demands, the government has blocked banks from retailing insurance through branches as well as dampening any immediate hopes they may have had in moving into the vehicle leasing […]
The numbers say it all. Canada’s property and casualty insurance industry suffered one of its worst year-on-year performances last year, posting a modest return on investment of 7.1% — nearly half of 1997’s rate of return. Heavy underwriting losses incurred in 1998 — primarily due to the January ice storm — took a heavy toll […]
By Sean van Zyl, Editor | June 30, 1999
12 min read
Cecil Rhodes, the 19th-century British financier, colonial administrator and sponsor of Oxford's prestigious Rhodes Scholarship, once said, "I would annex planets if I could." A read through the financial pages of any newspaper would suggest that many corporate presidents and CEOs feel the same way.
By Robert Gunn, president of Royal & SunAlliance Canada | June 30, 1999
6 min read
The pendulum on road safety from an insurer perspective is swinging back from mechanical design of vehicles to a more holistic view of driving skills and adequacy of road infrastructure, delegates were told at the Insurance Information Centre of Canada’s (IICC) recently held Automotive Insurers & Manufacturers Forum. In addition, the forum’s speakers called for […]
By Lowell Conn | June 30, 1999
4 min read
The new millennium is not only bringing Y2K exposures to the fore, but a sense of consumer branding. From companies, brokers through to reinsurers, the latest industry leader forums have all hosted an urgency to address consumerism. The property and casualty insurance sector has hardly been renowned for its innovative approach to identifying buyer needs […]
3 min read
Held against the backdrop of the nation’s capital, the 1999 Canadian Insurance Congress — seen as Canada’s premier reinsurer/primary company CEO forum — offered good news to insurers and risk managers on the treaty negotiation front. This year’s reinsurance rates, which normally come up for re-negotiation between August to November, are unlikely to show much […]
By Lowell Conn & Sean van Zyl | June 30, 1999
7 min read
The New York-based Risk and Insurance Management Society (RIMS) released its second annual Quality Scorecard which polled 1,259 risk managers rating the service of brokers, carriers and third-party administrators (TPA). The overall performances were similar to that of last year, with brokers rising by a single satisfaction point to 74 out of a 100 while […]
1 min read
A month after Progressive announced its intention to pull out of the Canadian marketplace, its general manager continues to insist the withdrawal had nothing to with Canada’s insurance environment. Chip Conner, Progressive general manager, says industry speculation that the company was burned by an early year foray into the Alberta market is unfounded. “We’ve actually […]
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