Canadian Underwriter

Features


Peter Parkin
Feature Mergers and Aqcuisitions

Primary Insurer Strategies 2004: Towing The Bottom-Line

December 1, 2003 Sean van Zyl, Editor

“Cautious optimism” – would seem to generally sum up the points of view of primary insurer CEOs in looking ahead to 2004. While this year saw the first signs of a profit recovery within the Canadian property and casualty insurance industry – with the premium pool rising by almost a third to reach a staggering $30 billion – the past 12 months also dealt insurers several blows in the form of higher catastrophe losses, rising prior-year adverse reserve developments, a spilling of red ink from the Facility Association, and provincial political intervention on loss-making mandatory covers. The latter, which applies to mostly personal lines auto, remains the greatest concern of insurers as governments have been slow to react with necessary product loss reduction reforms whilst introducing politically-motivated rate freezes. With much riding on the future viability of the auto product, insurer CEOs partaking in CU’s annual “strategic outlook” are hesitant to declare the industry “out of the woods” in terms of achieving a healthy and stable marketplace.

Jim Thompson
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On The Move (December 01, 2003)

December 1, 2003 by Canadian Underwriter

The Insurance Bureau of Canada operations at 240 Duncan Mills Rd. are moving to 2235 Sheppard Ave. East, Toronto. Enterprise Rent-a-Car has named Jim Thompson as vice president and general manager of its Alberta group. He has been with the

This year's B.C. Insurance Person of the Year Award goes to John M. Toomer, partner and manager at Vancouver General Insurance Agency. He has been in the industry for 35 years, starting as an underwriter with Safeco, before moving into the brokerage business. He is a past president of the Greater Vancouver Insurance Brokers Association, on the executive of the Insurance Brokers Association of B.C., and has served on the ICBC broker liaison committee for 13 years.
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Views (December 01, 2003)

December 1, 2003 by Canadian Underwriter

The Toronto Insurance Conference (TIC) hosted its annual “Black Tie Dinner” at Toronto’s Four Seasons Hotel recently. In attendance were company and vendor representatives, along with TIC member commercial brokers. Guest speaker for the event was Carla Collins, comedian and

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Western Financial Boosts Earnings For 3-Q

December 1, 2003 by Canadian Underwriter

Alberta-based Western Financial Group (TSX: WES) increased net income for the third quarter of this year by 45% to $516,810 compared with the $356,677 reported for the same period a year ago. This equates to diluted earnings of 2 a

Bob Whitman
Feature Mergers and Aqcuisitions

Organized Crime Bites Auto Insurers

November 1, 2003 by Canadian Underwriter

The alarming rise in insured cost of auto theft and fraud over recent years has much to do with the involvement and growth of organized crime in Canada, according to two Insurance Bureau of Canada (IBC) claim investigators who spoke

Bill Star
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Reserve Boosting Undermines Kingsway’s 3-Q Earnings

November 1, 2003 by Canadian Underwriter

Specialty risk insurer Kingsway Financial Services Inc. (TSX: KFS) saw net income for the third quarter of this year drop by 28% to $15.6 million compared with the $21.7 million reported for the same period in 2002. This equates to

Canadian Insurance Adjusters' Association
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Views (November 01, 2003)

November 1, 2003 by Canadian Underwriter

The Canadian Insurance Adjusters’ Association celebrated its 50th anniversary at its annual convention in St. John’s, Newfoundland recently. Along with East Coast traditions, including the “screech in” ceremony, the event included a seminar on privacy legislation and a trade show.

Camille Alexander
Feature Mergers and Aqcuisitions

After-Market Auto Parts Take Heat

November 1, 2003 by Canadian Underwriter

Auto repair shop attendees at the recently held Canadian Collision Industry Congress (CCIC) took aim at a panel of representatives from insurance companies in questioning the use of after-market parts in insured vehicle repairs. The attendees questioned the quality of

Stan Griffin
Feature Mergers and Aqcuisitions

Nova Scotia Auto Reforms Spark Insurer Withdrawals

November 1, 2003 by Canadian Underwriter

In the wake of passage of Nova Scotia’s Bill-1 – which reforms the province’s auto insurance legislation – insurers are announcing they will cease writing new business in the province. Royal & SunAlliance Insurance Co. of Canada and the Dominion

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A New Approach?

November 1, 2003 Lawrie Savage of Lawrie Savage & Associates Inc.

At the recent Insurance Bureau of Canada (IBC) “Regulatory Affairs Symposium”, which was held in Toronto, the speakers were asked to provide their perspective on recommendations put forward by former regulators and industry members on a new system of market conduct regulation in Canada. A move in this direction would significantly reduce the current “red tape” overload on insurers.

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Volatile Markets and the Reinsurance Intermediary

November 1, 2003 Donald Callahan, president of Guy Carpenter & Co. Ltd.

Is Your Reinsurance Transaction Secure?

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Letters to the Editor (November 01, 2003)

November 1, 2003 by Canadian Underwriter

Dear Editor, I have just finished reading/scanning another edition of CU received at our office and left for those of us brokers interested enough to pick it up and read. (I could go on at length about how uninterested and