Features
New Year’s weather hit
March 1, 1999 by Canadian UnderwriterThe 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…
Hub goes public
March 1, 1999 by Canadian UnderwriterThe 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…
Coming Events (March 01, 1999)
March 1, 1999 by Canadian UnderwriterAnnouncements 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. Insurance Bureau of Canada:…
Royal & SunAlliance in CG&B alliance
March 1, 1999 by Canadian UnderwriterRoyal & SunAlliance Insurance Company of Canada has struck a strategic alliance with the Toronto-based broker network, CG&B Group. “We believe that in order for the CG&B Group to maintain our position as a profitable, growing and innovative firm we…
ING strengthens B.C. position
February 1, 1999 by Canadian UnderwriterING Canada, through its Calgary-based subsidiary Western Union Insurance, has entered into a strategic alliance with B.C.-based BCAA. Under the agreement, ING will purchase BCAA’s subsidiary, BCAA Insurance Corporation, for undisclosed terms. BCAA will continue to sell home and auto…
Call centres notch premiums
February 1, 1999 by Canadian UnderwriterPremiums generated by call centres in Canada have risen by 96% since 1994, says Ted Belton who addressed the Strategy Institute Call Centre Conference recently. Belton notes the more traditional distribution methods generated premiums at a lower 20% growth rate…
Third quarter data shows cat costs
February 1, 1999 by Canadian UnderwriterThe U.S. property and casualty insurance industry posted US$23.2 billion in net taxed income for the first nine months of 1998, showing a 15% drop from the $27.4 billion made over the same period in 1997. The decline is attributed…
Coming Events (February 01, 1999)
February 1, 1999 by Canadian UnderwriterAnnouncements 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. Canadian Insurance Accountants Association:…
News (February 01, 1999)
February 1, 1999 by Canadian UnderwriterThe Professional Liability Underwriting Society (PLUS) recently held their international conference in Palm Springs, California, with over 2000 registrants in attendance. Founded in the U.S. in 1986 and having expanded into Canada in 1997, PLUS is a forum for individuals…
Solutions from the Ashes
February 1, 1999 Lowell ConnThe Synchron initiative, once heralded as the industry’s ultimate electronic interface solution between companies and point of sale, collapsed last year. From its ashes have risen several alternative solutions, one of the most prominent being The Freedom Alliance, a strategic…
Ice Storm Lessons learnt
February 1, 1999 Paul Kovacs, Executive Director, Institute for Catastrophic LossAt the time, it captivated Canadians across the country and even today is at the top of book best seller lists. The raw power of nature displayed by the ice storm which paralyzed south eastern Ontario, Quebec and parts of…
Jokers Wild
February 1, 1999 Sean van Zyl, EditorJust over half a year has elapsed since the burial of Synchron. Since then, little appears to have been achieved in finding a replacement solution to the industry’s drive for a single interactive technology interface solution. Add to which, recent…