Queensway’s court coup
August 1, 1999 by Canadian UnderwriterAchange in senior executive positions at Toronto-based Queensway Financial Holdings Ltd. (TSE: QFH) has resulted in a shift in power from Canadian to U.S. management. A statement recently released by the company says James Petcoff and Mathew Petcoff will be…
Regulating professional Virtue
August 1, 1999 by Canadian UnderwriterRecent years have seen the emergence of ethical issues relating to multi-disciplinary professional firms such as lawyers and accountants. Questions have been raised over the role such organizations play in providing global services to companies such as insurers while maintaining confidentiality of the information handled and thereby avoiding potential conflicts of interest. A recent legal case has drawn a clearer picture of this ethical debate.
Factory Mutuals Finalize Merger
August 1, 1999 Steven Zenofsky, public relations consultant at FM GlobalThere’s a new insurance company on the block with a 165-year history, following the recent merger of commercial/industrial property insurers Allendale Insurance, Arkwright, Protection Mutual Insurance and their affiliate Factory Mutual. The new company will market itself as FM Global.…
could this year be THE BIG ONE?
August 1, 1999 Sean van Zyl, EditorAlan Greenspan only has to mention inflation and interest rates in the same breath to send the investments markets into spasm. His most recent economic brief, presented toward the end of July, knocked off close to 3% of the value…
Insurers offshore BOUND
August 1, 1999 Michael HlinkaSeveral months ago Northern Telecom shook the Canadian business community when it announced plans to relocate to the U.S., mainly due to the high personal income tax structures in Canada which make it difficult if not impossible to compete against…
U.S. debate predicts “E-Revolution” for insurance
August 1, 1999 by Canadian UnderwriterThe property and casualty insurance industry in North America will have to come to grips with the growth in e-commerce — in terms of client demands for cover as well as managing their own exposures to the Internet, a national…
TURNING TO LEARNING
August 1, 1999 Jaellayna Palmer & Peter Smith of Learn2BeAs insurance professionals, we sell not only security, but also knowledge. Our competitive advantage is often based on what we know and how well we can apply it. This means that individually, as brokers, and collectively as an industry, learning…
International trade body turns to financial services COMPETITION
August 1, 1999 Glenn McGillivray, head of corporate communication at Swiss ReinIt is becoming increasingly clear the importance of the financial services sector on the global stage. The recent drive toward globalization of business — coupled with new information technology and the formation of geo-economic and political alliances — have allowed…
Bell fire losses minimal
August 1, 1999 by Canadian UnderwriterThe insurance industry got off lightly from the July 16 fire at a downtown Toronto Bell Canada switching station in which phone service was cut off for 113,000 downtown homes and offices for nearly five hours. Initial estimates had the…
Thinking outside the Canvas
August 1, 1999 Lowell ConnThe early 20th century was a revolutionary time for the fine art community, with “modern artists” such as Henri Matisse carrying forward the early exploration attempts of the impressionist painters in testing conventional “realist” theory. In many respects, the modern…
A Rocky Road An Ocean of Opportunity
August 1, 1999 Lowell ConnThere is a patriotic undertone to this year’s Canadian Risk & Insurance Management Society (CRIMS) national conference — “Risk on the Rock” — which will be held in St. John’s Newfoundland this coming September. In addition to hosting one of Canada’s premier national conferences, the province is also celebrating its fiftieth year of Canadian confederacy.
Canadian First-Quarter Weak
August 1, 1999 by Canadian UnderwriterBusiness conditions for the Canadian property and casualty insurance industry remained weak for the first quarter of this year, with auto and personal property showing increased loss ratios across Ontario and Atlantic Canada, says Paul Kovacs in the Insurance Bureau…