Topic
Mergers and Aqcuisitions
Insurers applauding Ontario auto reforms
September 2, 2003 by Canadian UnderwriterAdditional auto insurance reforms, coming on the heels of those contained in Bill-198, are being welcomed with open arms by Ontario insurers.The reforms include several measures insurers have long been pushing for in the province, including a reduction in the…
Insurers’ Combined Ratio Drops as Profits Rise For 2-Q
September 1, 2003 by Canadian UnderwriterInsurers managed to bring their combined ratio to below the key 100% mark for the second quarter of this year as coverage price hikes implemented by companies over the last two years finally began to outstrip the growth in claims…
Government Auto Insurance in Atlantic Canada: ‘Fool’s Gold?”
September 1, 2003 Dennis ProuseWith the possibility of government run auto insurance systems being touted about by the governments of the Atlantic Canada provinces, for insurers operating in the region as well as the insured public, this current uncertain time is a period of trepidation. A decision driven by politics rather than practicality and the age old wisdom of competition could well result in the region’s drivers and taxpayers paying a hefty price over the long-run.
Shining Light on the “Auto Claims Economy”
September 1, 2003 Vikki SpencerWith auto insurance losses over the past two years having left many insurers in the “dark” in terms of how to deal with the costing of the product, there was a certain irony behind a recently held conference which focused on relationships between the various vendors and manufacturers involved in the auto claims chain – for in the midst of the event, the “blackout of 2003” struck. However, despite the adversity of the power outage, the conference’s participants were upbeat regarding a “new light” of cooperation between the various players toward achieving cost efficiency.
Letters to the Editor (September 01, 2003)
September 1, 2003 by Canadian UnderwriterDear Editor, Don Callahan is likely correct in his statement that “I cautiously (my emphasis) add that Canadian licensed reinsurers, regardless of the precarious position of their parents, will have sufficient capital to support run-offs view of strong scrutiny in…
Ontario Auto Package Offers Tax Cut
September 1, 2003 by Canadian UnderwriterThe Ontario government has formally proposed additional changes to the auto insurance system on the heels of implementation of Bill-198. The program includes a reduction in the premium tax from 3% to 2%, which the government says should save policyholders…
Newfoundland Auto Reform Includes Rate Freeze
September 1, 2003 by Canadian UnderwriterFeatured among reform changes to Newfoundland’s auto insurance system is optional coverage for minor pain and suffering, as well as a rate freeze imposed on insurers. This follows on the heels of the other Atlantic provinces in introducing changes to…
On The Move (September 01, 2003)
September 1, 2003 by Canadian UnderwriterRoyal & SunAlliance Canada confirms the retirement of president and CEO Larry Simmons. Simmons took over the top spot in 2001, having previously served as COO. He will continue to head up the company until a replacement is named. The…
Black Summer…
September 1, 2003 Sean van Zyl, EditorThose in the industry who had been looking forward to an easy-going summer would have been jolted by the series of adverse events that seemed to cascade one after the other in the final stages of the season. Basically, short…
RBC Insurance division produces higher net income on home & auto
August 28, 2003 by Canadian UnderwriterHome and auto insurance performance is the key factor in increased net income, says Royal Bank of its RBC Insurance division, along with Canadian life and reinsurance progress. The division reports that for the third quarter ending July 31, 2003,…
Insurers not impressed with Newfoundland auto reforms
August 27, 2003 by Canadian UnderwriterThe package of auto insurance reforms announced by the Newfoundland government yesterday is drawing the ire of insurers. The Insurance Bureau of Canada (IBC) says the government needs to “rethink” the reforms as they will add confusion and additional cost…
Newfoundland auto insurance plan includes optional coverage and rate freeze
August 26, 2003 by Canadian UnderwriterNew changes to Newfoundland’s auto insurance system announced today include optional coverage for minor pain and suffering, and a rate freeze.Following on the heels of other Atlantic provinces introducing changes to tackle rising auto insurance rates, Newfoundland has released a…