Features
Slow and steady wins the race
May 1, 2000 Paul Kovacs, Senior vice president at the Insurance Bureau of CaIn April, the Canadian government stopped underwriting domestic credit insurance. This is a welcome response to our ongoing industry lobby. This breakthrough shows that a persistent and sustained effort is the key to eventually convince governments to also exit other insurance businesses across Canada.
FSCO Tightens Compliance Standards
May 1, 2000 James Cameron, president of Cameron & Associates Insurance ConsuWith recent changes having been introduced by the Financial Services Commission of Ontario (FSCO) to insurer market conduct self-audits, there is a sense that the regulator is toughening its position on reporting non-compliance which could have serious ramifications for the insurance industry.
IBAO AGM AND MID-YEAR CONFERENCE: Pulling Together
May 1, 2000 Sean van Zyl, EditorThis year’s Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference, which was recently held in Ottawa, drew focus on the need for the brokerage community to unite in the face of rapid consolition and the technological…
Independent Brokers: Networking Technology a Powerful Tool
May 1, 2000 Brian Thompson, president of SurNet Insurance GroupIf you are a small independent insurance broker doing business in today’s market, you are no doubt feeling uncertain about your future. With the advancement of direct writers and the broker network consolidators, who could blame you. However, for those in the brokerage community willing to embrace technology advantages, the future can be a bright one.
Crossing the Floor
May 1, 2000 Sean van Zyl, EditorThe recent acquisition of broker network consolidator Canada Brokerlink by insurance company Allianz Canada appears to have set off a series of fireworks on the insurance industry’s skyline — an event which could result in a significant change in the…
Aftermarket Auto Parts: Shifting Gears
May 1, 2000 David CarrLegal action against insurance companies in the U.S. for alleged unauthorized use of aftermarket parts in vehicle repair have bubbled up into Canada. Within months of a successful $1.2 billion class action in Illinois against State Farm Insurance, similar suits…
Facility Association numbers decline
May 1, 2000 by Canadian UnderwriterThe number of policyholders in the high-risk Facility Association pool continued to decline in 1999, reports president Stan Griffin at the association’s recently held annual general meeting. Although the combined ratio of the market rose by 10 percentage points year-on-year…
News (May 01, 2000)
May 1, 2000 by Canadian UnderwriterThe Fourth Annual Women in Insurance Cancer Crusade (WICC) dinner was held Wednesday, March 29 at the Toronto Marriott Hotel. Pat Trywhitt, of Insurance Portfolio Inc., was the first ever recipient of the Lew Dunn Memorial Award for outstanding volunteer…
Defining Ontario’s Insurance Regulation
May 1, 2000 Vikki SpencerWith 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.…
CSIO confident of new strategy
May 1, 2000 by Canadian UnderwriterLast year proved to be a turning point for the insurance industry’s technology standards organization, the Centre for Study of Insurance Operations (CSIO), says chairman Howard Moran at the annual general meeting. Subsequent to the appointment of a new president,…
On The Move (May 01, 2000)
May 1, 2000 by Canadian UnderwriterMabel Sansom, executive director of the Insurance Brokers Association of Ontario, has announced her resignation effective when the association moves its offices to Ottawa later this year. Crawford Adjusters Canada has announced it is splitting the role of president and…
RIMS drives loss data standards
May 1, 2000 by Canadian UnderwriterThe 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.…