Segment
Brokers
CIAB survey shows reduced commercial risk pricing for 1-Q
April 20, 2004 by Canadian UnderwriterThe latest quarterly market index produced by the U.S.-based The Council of Insurance Agents & Brokers (CIAB) suggests that pricing of commercial business either declined or remained flat across the various size segments of the marketplace during the first quarter…
Royal & SunAlliance boost broker contracts in New Brunswick
April 20, 2004 by Canadian UnderwriterRoyal & SunAlliance Canada Group has appointed four new brokerages to its book in northern part of New Brunswick. The insurer says it will look at expanding overall capacity in the province’s auto insurance market based on the product cost-cutting…
N.B. brokers want competitive market
April 13, 2004 by Canadian UnderwriterReacting to the release of New Brunswick’s Select Committee Report on Public Automobile Insurance, the province’s brokers say they want to keep competition for their consumers.The Insurance Brokers Association of New Brunswick (IBANB) is critical of the committee’s report, saying…
CCIR releases “referral agreement” feedback
April 8, 2004 by Canadian UnderwriterThe Canadian Council of Insurance Regulators (CCIR), coming off their spring meetings, has released feedback on the January discussion paper on referral agreements. Among the respondents is the Registered Insurance Brokers of Ontario (RIBO), which outlined its policy on referral…
Proposal would see “sole occupation” rules loosened for agents
April 7, 2004 by Canadian UnderwriterIn a discussion paper, the Financial Services Commission of Ontario (FSCO) is looking at loosening the “sole occupation” restriction on general and life agents.The restrictions mean that agents in bigger communities must be full-time agents and not hold other jobs.…
Brokers in demand more than ever: Swiss Re study
April 7, 2004 by Canadian UnderwriterCommercial and reinsurance brokers are facing an increasing demand for their services, in light of the growing complexity of risks, according to the latest Swiss Re sigma study.The study looks at development of the broker market over the past 20…
Western Financial net income up 37% for 2003
April 6, 2004 by Canadian UnderwriterNet income for brokerage and bank Western Financial Group (TSX: WES) was up 37% in 2003, to $2.1 million from $1.6 million in 2002, being its own projections. This translates to earnings per share of $0.11 last year, versus $0.08…