Risk
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Canadian Insurance Accountants Association: Annual Conference. Contact Paul Mann at 905-274-2722. The Prince Edward Hotel, Charlottetown, PEI. Sept. 19-22. […]
August 31, 1999
1 min read
Over the past decade sexual abuse claims in institutional environments have become one of the most troublesome areas of civil litigation. In particular, insurers underwriting risks involving many of Canada's most respected not for profit, charitable and religious organizations are now find themselves confronted by catastrophic personal injury claims involving serious allegations from past decades.
By William Blakeney, BA (Hons.) LL.B and Khalid Baksh, BA (Hons.) L | August 31, 1999
7 min read
Canadian automobile insurers wrote a combined $9.3 billion in earned premiums in 1998 while incurring losses of $7.0 billion. This 77.45 loss ratio ranks second only to accident & sickness as the worst loss experience category among all property & casualty business. Factoring in an industry average expense ratio of 32.29, this boosts the total […]
By Lowell Conn | August 31, 1999
9 min read
Following a lengthy period of stagnation, pricing within the U.S. reinsurance market seems to have stabilized, with even some evidence in the market of rate increases. However, until the market's excess capacity is depleted, buyers of reinsurance will continue to enjoy the benefits of highly competitive pricing.
By Sean Mooney, senior vice president at Guy Carpenter & Company In | August 31, 1999
5 min read
Industry
Donald Alexander, senior vice president of Guy Carpenter & Company Ltd. (Canada). My instincts tell me that the reinsurance market is under-priced. Rating models strongly indicate that market prices are below what they should be. This is not surprising, given year-after-year of price erosion and expansion of coverage. My gut feeling is that any “fat” […]
2 min read
Home
Publicly traded broker network The Hub Group Ltd. has released its second quarter figures posting promising earnings in the face of many acquisitions. Total revenue in the second quarter amounted to $19.1 million, bringing year to date revenue to $35.2 million. The company, which went public in early 1999, is operating at a profit, with […]
3 min read
With mass consolidation converting the insurance industry into a global industry — and the increased cross-border transactions, partnerships and mergers between U.S. and Canadian insurer — it is fitting that North American insurers will meet this Fall for the first North American Insurance Conference. Co-chaired by Kingsway Financial Services Inc. president Bill Star and Serge […]
Listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. have announced their intention to merge operations with netpremium volume of $277 million. The newly formed corporation — expected to retain the Brokerlink brand name — will trade shares with existing Brokerlink stakeholders on a 2.5 to 1 basis, while existing Vector shareholders will receive […]
Global broker Willis Canada has divested its Ottawa area commercial accounts to regional broker Binks Insurance Brokers Ltd. in a move industry observers suggest could be a sign of things to come in the commercial brokerage sector. Terms of the deal were not announced, but Henry Binks, president of Binks Insurance, says total premiums after […]
Dear Editor, We read the article by Lowell Conn, titled “Faith & Honour”, in your April 1999 publication and would like to comment on a couple of statements attributed to Ginny Bannerman. Ms. Bannerman is quoted as saying, in reference to Alberta’s new Insurance Act and Alberta’s educational requirements for general insurance brokers, “the requirement […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
