Segment
Brokers
Lloyd’s granted injunction against Stuart
September 6, 2004 by Canadian UnderwriterLloyd’s has been granted an injunction in Ontario Superior Court against Ian Stuart, who, the London market contends, has been holding himself out as a Lloyd’s representative without authorization.The court order prohibits Stuart from purporting to place business with Lloyd’s…
Bermuda market maintains profitability in second quarter
September 2, 2004 by Canadian UnderwriterThe Bermuda market shows no signs of waning profitability, even as rates in several key lines begin to soften, according to results compiled by Benfield Group. In its quarterly analysis of the top 16 listed Bermuda companies, Benfield finds net…
What’s new: In brief (August 30, 2004)
August 30, 2004 by Canadian UnderwriterThe Toronto Insurance Conference has set the line-up for its annual seminar, slated for Thursday, September 9 at the Toronto Marriott Eaton Centre. The program, which runs through the morning, focuses on “Errors & Omissions” for brokers and commercial clients.…
Terrorism insurance buys up in second quarter: Marsh
August 25, 2004 by Canadian UnderwriterMore than 46% of U.S. businesses who purchased property insurance in the second quarter of 2004 also bought terrorism risk coverage, according to the latest survey from international broker Marsh Inc.Marsh has been tracking terrorism insurance purchases since the implementation…
Contingency fees must be fully disclosed: RIMS
August 24, 2004 by Canadian UnderwriterThe organization representing commercial insurance buyers has not come out against broker contingent commissions, but is issuing strong words on the need for full disclosure of such arrangements. In its policy statement on compensation agreements, the Risk and Insurance Management…
Western Financial earnings up 104.4% in first-half 2004
August 11, 2004 by Canadian UnderwriterAlberta-based broker network and bank Western Financial Group (TSX: WES) saw its earnings rise 104.4% in the first half of 2004, up to $2.0 million from $957,000 in the first six months of 2003. Earnings per share were up to…
What’s new: In brief (August 10, 2004)
August 10, 2004 by Canadian UnderwriterIn support of Mike Yang, a long-time insurance industry figure who is returning home following a serious illness, two fundraising events are planned. On Thursday, September 23 from 5-7 pm, Mike will be at the Windsor Arms Hotel at 18…
Hub earnings up 15% on U.S. and Canadian success
August 2, 2004 by Canadian UnderwriterChicago-based broker Hub International (TSX: HBG) saw improvement in its results coming from a variety of sources for the second quarter ending June 30, 2004 growth was experienced both organically and through acquisition, while both Canadian and U.S. operations performed…
Compensation culture distracting business from core operations: U.K. survey
July 28, 2004 by Canadian UnderwriterBusinesses in the U.K. say the growing compensation culture there is taking focus and resources away from core business and revenue generation, according to a new survey by international broker Aon.A full 75% of businesses surveyed say rising compensation trends…
Event cancellation market stabilizing: Willis
July 26, 2004 by Canadian UnderwriterThe event cancellation insurance market which took a roller-coaster ride after 9/11 is leveling off, according to a new report from international broker Willis.The study says premiums and terms in the event cancellation market are stabilizing despite ongoing turmoil in…
CIAB 2-Q commercial market survey reflects price weakness
July 22, 2004 by Canadian UnderwriterU.S. commercial property and casualty insurance rates continued to decline in the second quarter of this year across the various business size segments of the marketplace, according to the latest quarterly broker member survey conducted by the Council of Insurance…
What’s new: In brief (July 14, 2004)
July 14, 2004 by Canadian UnderwriterKingsway Financial Services has promoted Claude Smith to the role of vice president and chief information officer. Smith has been with the company four years, and most recently held the same titles with subsidiary Kingsway General Insurance. Kingsway Financial has…