Industry
Business conditions for the Canadian property and casualty insurance industry remained weak for the first quarter of this year, with auto and personal property showing increased loss ratios across Ontario and Atlantic Canada, says Paul Kovacs in the Insurance Bureau of Canada’s (IBC) quarterly industry analysis. Commercial rates are, however, showing signs of improvement after […]
July 31, 1999
2 min read
Risk
St. Paul Fire and Marine Insurance Co. has announced Doug Wyseman, a leader in the field of risk management for the public sector, has joined the company to establish niche loss control services for its new public sector insurance division. Wyseman is a twenty-five year veteran of the risk management profession. The board of Royal […]
Achange in senior executive positions at Toronto-based Queensway Financial Holdings Ltd. (TSE: QFH) has resulted in a shift in power from Canadian to U.S. management. A statement recently released by the company says James Petcoff and Mathew Petcoff will be taking over as CEO/president and COO/vice president. Canadian David Rooney, who previously handled the portfolio […]
Dear Editor, The [June 1999] issue was excellent from cover to cover. I like the Autovision being separate rather than inserted. The subject matters are very different and while I read it from cover to cover as well, I did it at home in the evening. The profile article about ICBC’s president Thom Thompson, describes […]
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
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 […]
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
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