Segment
Brokers
What’s new: In brief (November 09, 2004)
November 9, 2004 by Canadian UnderwriterNext week CGI will host its annual “Client Conference” in Niagara Falls, Ontario. The event, set for November 17 to 19, is built around the theme “Ideas into Action”, and will encourage discussion of how the industry can improve its…
What’s new: In brief (November 07, 2004)
November 7, 2004 by Canadian UnderwriterU.S. insurers are reacting positively to news of the re-election of George W. Bush. Despite the Bush administration’s failure to pass tort reform measures to lighten the burden of class action, asbestos or medical malpractice litigation, the Property-Casualty Insurers Association…
Winterthur, Hub both sell Quebec personal lines operations
November 7, 2004 by Canadian UnderwriterInsurer Winterthur and broker Hub International have both decided to refocus their business in Quebec away from personal lines.Winterthur says it will sell is L’Unique Compagnie d’Assurances Generales to La Capitale Assurances Generales Inc. for $48 million, and focus on…
RIBO AGM: U.S. broker allegations “ripple down” to Ontario
November 7, 2004 by Canadian UnderwriterWhile the past year had seen the situation improve on many fronts for brokers, the events of the past few weeks in the U.S. are now taking their toll on Ontario’s brokers, noted Rod Finlayson, outgoing president of the Registered…
What’s new: In brief (November 04, 2004)
November 4, 2004 by Canadian UnderwriterBermuda-based ACE Ltd. announces it has fired two employees and suspended three more as a result of internal investigations sparked by the U.S. probe of broker compensation practices. ACE Casualty Risk president Geoffrey Gregory and his staffer Patricia Abrams have…
What’s new: In brief (November 03, 2004)
November 3, 2004 by Canadian UnderwriterThe “Feed the Minds of Youth” luncheon hosted by the Insurance Institute of Ontario’s (IIO) chapters Wednesday saw more than 150 students participating in the “Take Our Kids to Work” day learn more about the insurance industry from guest speakers…
U.S. reinsurers producing “mixed results”: Benfield
November 3, 2004 by Canadian UnderwriterIn its inaugural quarterly analysis of U.S. reinsurers, Benfield Group says first-half 2004 results highlight the wide gulf between the achievers and the under-performers.Based on 13 top reinsurers’ results, Benfield finds underwriting performance and net income. While the average combined…
Hub buys Vancouver financial services firm
November 2, 2004 by Canadian UnderwriterThe Canadian life and financial services branch of Hub International, Hub Financial Inc., says it will acquire Vancouver-based financial services firm TILCO. "TILCO has been a major client of Toronto-based Hub Financial since Tilly Enriquez founded TILCO in 1993, and…
Fitch maintains stable outlook on commercial lines despite Spitzer probe
November 1, 2004 by Canadian UnderwriterEven with the cloud of the investigation into commission practices, rating agency Fitch is maintaining its stable outlook on the U.S. commercial lines p&c sector.Recently, Standard & Poor’s said it was placing a negative outlook on the sector following a…
What’s new: In brief (October 31, 2004)
October 31, 2004 by Canadian UnderwriterThe Supreme Court of Canada ruled that directors should not be held liable to creditors for decisions made in good faith prior to a bankruptcy, even if those decisions may have contributed to the company’s demise. In the case, in…
Canadian commission controversy heats up
October 28, 2004 by Canadian UnderwriterFast on the heels of the U.S. controversy over broker commissions and practices, the situation is heating up in Canada.Thursday, the Canadian Council of Insurance Regulators (CCIR) confirmed it would be working in tandem with the Canadian Insurance Service Regulatory…
Hub earnings down on Talbot acquisition
October 28, 2004 by Canadian UnderwriterAs a result of compensation paid in the acquisition of Talbot Financial, Chicago-based Hub International (TSX: HBG) is reporting earnings down for the third quarter and nine months ending September 30, 2004.The brokerage says despite revenue growth, net earnings for…