TAKING THE PLUNGE
June 1, 2000 Vikki SpencerArmed with over 50 years experience in the insurance business, Simon Farrow is ready to lead a new company, Thompson General Insurance, onto the playing field. The market may be competitive, he says, but this “virtual company” is mixing state…
Acquisition costs deflate Equisure’s earnings
June 1, 2000 by Canadian UnderwriterListed broker network con- solidator, Equisure Financial Network (TSE:EFN), reported a 50% drop in earnings for the first quarter of this year to 2c a share compared with the same period previous. Although consolidated revenue for the first quarter of…
“Integration” or… “Assimilation”
June 1, 2000 Sean van Zyl, EditorWith the recent approval of the U.S. Financial Services Modernization Act, a considerable amount of attention in Canada has been turned to watch developments south of the border. Financial services legislative reform in the U.S. has opened the door to…
Integrated Product Distribution: Crossing the lines
June 1, 2000 Vikki SpencerFuelled by mergers, acquisitions, alliances and regulatory change, the idea of one-stop financial services shopping is becoming a reality south of the border. With caution, several insurers and brokers in Canada have broadened their focus to “test the market” on…
RIMS reveals restructuring
June 1, 2000 Sean van Zyl, EditorThe Risk and Insurance Management Society 2000 Conference & Exhibition, which was recently held in San Francisco, drew a record number of more than 12,000 attendees and exhibitors. The event marked the society’s 50th anniversary as the North American body…
IBAO AGM AND MID-YEAR CONFERENCE: Pulling Together
May 1, 2000 Sean van Zyl, EditorThis year’s Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference, which was recently held in Ottawa, drew focus on the need for the brokerage community to unite in the face of rapid consolition and the technological…
Independent Brokers: Networking Technology a Powerful Tool
May 1, 2000 Brian Thompson, president of SurNet Insurance GroupIf you are a small independent insurance broker doing business in today’s market, you are no doubt feeling uncertain about your future. With the advancement of direct writers and the broker network consolidators, who could blame you. However, for those in the brokerage community willing to embrace technology advantages, the future can be a bright one.
Crossing the Floor
May 1, 2000 Sean van Zyl, EditorThe recent acquisition of broker network consolidator Canada Brokerlink by insurance company Allianz Canada appears to have set off a series of fireworks on the insurance industry’s skyline — an event which could result in a significant change in the…
Defining Ontario’s Insurance Regulation
May 1, 2000 Vikki SpencerWith the creation of the Financial Services Commission of Ontario (FSCO) in 1998, the province took on the task of reconciling the interests of consumers with a patchwork quilt of industries governed by almost a dozen different set of rules.…
After “HORSING” around, MOTIVATION is the name of the game
March 1, 2000 AxiomIpositioned myself near the entrance to the dining lounge and watched as the escalator in front of me deposited a steady stream of well-dressed couples to the upper level. I had arrived at the suburban racetrack early, to be on…
The Technology PINCH
March 1, 2000 Laird Laundy, an independent insurance consultantGenerally speaking, I am an optimist about the role technology plays in our society, but I am certainly not an unabashed enthusiast. I often find, as I deal with various service suppliers, especially call-centers, that the cutting edge is not so much a finely honed blade as a blunt cleaver in need of a good refurbishing.
Undercurrents
March 1, 2000 Sean van Zyl, EditorThe friendly bout gloves seem to have been removed in the latest acquisitional match of industry consolidation, namely the less-than-friendly bid made by listed Equisure Financial Network in the beginning of this year for its public-traded rival, Canada Brokerlink Inc.…