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Hub goes public

March 1, 1999 by Canadian Underwriter

The Hub Group Ltd., a broker consolidator, has gone public listing on the Toronto Stock Exchange as HBG. The initial public offering, underwritten by CIBC Wood Gundy Securities, distributed $11.7 million Hub common shares to the public at an opening

GRIFFIN
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New Year’s weather hit

March 1, 1999 by Canadian Underwriter

The snowstorm which almost buried Toronto for the first two weeks of the new year is expected to cost insurers roughly $50 million, the Insurance Bureau of Canada (IBC) estimates. Around 115cm of snow fell on Toronto with heavy accumulations

TOMLINSON
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Ontario auto falls again

March 1, 1999 by Canadian Underwriter

Private passenger auto insurance rates in Ontario decreased during the fourth quarter of 1998 according to the latest rate information published by the Financial Services Commission of Ontario (FSCO). This is the 10th successive quarterly decrease since 1996. Of the

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EDC hits record levels in 98

March 1, 1999 by Canadian Underwriter

The Export Development Corporation (EDC) posted record year end results for 1998. The corporation provides financial and risk management services to Canadian exporters, serving a record 4,183 exporters last year — a 13% increase on 1997. The EDC’s business volume

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Newfoundland adopts graduated licensing

March 1, 1999 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has given a pat on the back to the Newfoundland and Labrador authorities who have adopted graduated licensing systems from January 1 of this year. Atlantic vice president of the IBC, Don Forgeron, says

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Y2K claimants here already

March 1, 1999 by Canadian Underwriter

The ramifications of the millennium bug are already hitting insurers, says Crawford Adjusters Canada vice president Glenn Gibson, who recently addressed a capacity crowd at the SCOR Canada/Lang Michener Claims Symposium in Toronto. Already in the U.S. – where the

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Vector eases out B.C. market

March 1, 1999 by Canadian Underwriter

Vector Intermediaries Inc. (ASE: VTE) has entered into an agreement to sell its British Columbia operations. Regional vice president of Western Canada Rich Commerford has agreed to purchase Burnaby-based Charlton Insurance Agencies Ltd. as well as Macnaughton & Ward in

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Letters (March 01, 1999)

March 1, 1999 by Canadian Underwriter

Dear editor: The following correspondence has been sent by Noble Insurance, an Ontario-based insurance brokerage, to Robert Gunn, president of Royal Insurance Company of Canada, Noel Walpole, president of Economical Insurance Group, Robert Landry, president of personal finance solutions at

THOM THOMPSON-
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CORRECTION (March 01, 1999)

March 1, 1999 by Canadian Underwriter

News

illustration: gerald heydens
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A RISKY BUSINESS

March 1, 1999 Axiom

As I approached the first aisles of the “Exhibitors’ Showcase” it occurred to me for perhaps the sixth or seventh time just how technologically advanced our business had become. The three-day-long brokers’ convention had started, and half of the convention

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A turning point in professionalism

March 1, 1999 by Canadian Underwriter

The risk management profession is coming of age, says Susan Meltzer the incoming president of the Risk and Insurance Management Society Inc. Meltzer will be the fifth Canadian president to take the reins of North America’s most prestigious organization representing the development of risk managers. She is also the first Canadian woman to occupy the presidency chair of RIMS, a task she does not find daunting in the least. Her message: it’s time for risk managers to look ahead.

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Risk Management: It’s a Buyer’s Market

March 1, 1999 Lowell Conn and Sean van Zyl

Despite deteriorating conditions in the property and casualty insurance market, insurers continue to slash already low premium rates. Market observers forecast this trend to continue for at least 24 months as insurers prioritize marketshare over revenue prosperity. Simply put, the