Risk
With the creation of the Financial Services Commission of Ontario (FSCO) in 1998, the province took on the task of reconciling the interests of consumers with a patchwork quilt of industries governed by almost a dozen different set of rules. That balancing act fell squarely on the shoulders of Dina Palozzi, first commissioner, now chief […]
By Vikki Spencer | April 30, 2000
6 min read
The Risk and Insurance Management Society (RIMS) has revealed plans to develop standards for the exchange of loss data between insurers, service providers and the risk management community. The results of a viability study were presented to RIMS last month. Although the RIMS’ data standard initiative is being driven from the U.S., the president of […]
April 30, 2000
1 min read
Underwriters Adjustment Bureau and the Insurers’ Advisory Organization have successfully completed ISO 9002 certification throughout the Ontario region, announced Fred Jacques, senior vice president of quality assurance for both groups. UAB/IAO provides claims handling loss control and risk information service to large insurers, municipalities, public utility companies and multi-national corporations. “The commitment that has been […]
The repeal of the U.S. Glass-Steagall legislation toward the end of last year has opened what many in the property and casualty insurance industry see as a “Pandora’s box”. The legislation was replaced with the Financial Services Modernization Act of 1999, which effectively allows for integration of business ownership across the financial services sectors. While […]
By Sean van Zyl, Editor | February 29, 2000
5 min read
Control over the distribution of insurance products is once again back on the property and casualty insurance industry’s radar screen as the federal government’s proposed white paper on financial services competition is set to go forward before parliament for legislative approval this March/April. Although the final version of the financial services paper is expected to […]
By Sean van Zyl | February 29, 2000
8 min read
When the “garage sale” begins and market players undercut one another, nowhere is the reverberations felt any stronger than the specialty lines business. Niche operators want the message to be clear: “Stay out of out of our business”. More to the point, it is not competition they fear but the disruption brought to the market […]
By by Lowell Conn | February 29, 2000
9 min read
Susan Meltzer, president of the Risk and Insurance Management Society (RIMS) for the 1999/2000 term, bridled in her opening comments in the panel discussion to a previous reference made by a seminar speaker at the RIMS’ “Operational Risk Management” conference recently held in Toronto. Meltzer’s objection was to a widely held belief in the corporate […]
Queensway Financial Holdings Limited has announced the appointment of H. Anthony Arrell and Patrick Hodgson to Queensway’s board of directors. Arrell is the chairman and chief executive officer of Burgundy Asset Management Limited. Hodgson is the president of Cinnamon Investments Ltd. and chairman of Todd Shipyards Corporation in Seattle, Washington. The Allianz Group has announced […]
February 29, 2000
2 min read
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. Toronto Insurance Women’s Association: Lunch Meeting. For more information, call Julia Benyak at 416-362-8586. Royal York Hotel, Toronto, ON. […]
On the invitation of the Office of the Superintendent of Financial Institutions, the Insurance Bureau of Canada (IBC) formed a working group in 1998 to prepare a set of draft standards of sound business and financial practices for property and casualty insurers. The IBC drew upon standards for similar standards for life insurance companies and […]
January 31, 2000
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