Canadian Underwriter


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Allstate acquires CNA personal lines

July 1, 1999 by Canadian Underwriter

U.S.-based Allstate Corporation has acquired CNA’s personal lines business in a transaction valued at $1.2 billion. The deal calls for Allstate to pay CNA $140 million in cash for the business and company shell. Also, Allstate will utilize about $950

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the hot branding-iron of CONSUMERISM

July 1, 1999 Sean van Zyl, Editor

The new millennium is not only bringing Y2K exposures to the fore, but a sense of consumer branding. From companies, brokers through to reinsurers, the latest industry leader forums have all hosted an urgency to address consumerism. The property and

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99 Canadian Insurance Congress: Marching to new Drummers

July 1, 1999 Lowell Conn & Sean van Zyl

Held against the backdrop of the nation’s capital, the 1999 Canadian Insurance Congress — seen as Canada’s premier reinsurer/primary company CEO forum — offered good news to insurers and risk managers on the treaty negotiation front. This year’s reinsurance rates,

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Progressive packs south

July 1, 1999 by Canadian Underwriter

A month after Progressive announced its intention to pull out of the Canadian marketplace, its general manager continues to insist the withdrawal had nothing to with Canada’s insurance environment. Chip Conner, Progressive general manager, says industry speculation that the company

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The right adjuster FOR THE JOB

July 1, 1999 Lowell Conn

National harmonization of the licensing and regulation of the adjusting profession has become a hot topic for regulators and the insurance industry in Canada. Alberta’s recent Insurance Act rewrite included a step-licensing structure as well as a provision for mandatory

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Study shows buyers anti to reinsurance adjustments

July 1, 1999 by Canadian Underwriter

A Conning & Company reinsurance study concludes that buyers will not respond well to a general hardening of market rates. The study suggests that a reinsurance price increase will lead to a significant outflow of business from the traditional insurance

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Canadian 1-quarter ratios rise on consolidation costs

July 1, 1999 by Canadian Underwriter

Queensway Financial Holdings Inc. and St. Paul Companies released their first quarter earnings, with both showing results mirroring industry trends. Both companies followed the industry’s alarming trend of rising operating ratios. And while Queensway’s premium volume rose considerably — the

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On The Move (July 01, 1999)

July 1, 1999 by Canadian Underwriter

Equisure Financial has made application to amend the name of its wholly owned chartered trust company to Equisure Trust Company from Evangeline Trust Company. Insurance Technology Advisors Ltd., a Canadian insurance marketplace consulting practice, announced that Domenic Maggio has joined

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Martin’s “Wait and See” strategy

July 1, 1999 by Canadian Underwriter

The insurance industry is applauding the federal government’s just released white paper outlining the future of financial services competition in Canada. In line with insurer and broker demands, the government has blocked banks from retailing insurance through branches as well

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Manitoba brokers brace for the banks

June 1, 1999 by Canadian Underwriter

The new president of the Insurance Brokers Association of Manitoba (IBAM) Ron Vandenbosch says the battle against banks retailing insurance is the top concern expressed by his constituents at the recent IBAM annual general meeting in Winnipeg. Asked to list

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Extreme Perils

June 1, 1999 Sean van Zyl, Editor

Natural disasters such as extreme weather, a volcanic eruption or an earthquake, are often quaintly referred to in the insurance world as “Acts of God”, adverse events which are seemingly unexplainable or beyond man’s control. Noticeably, the economic and insurance

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1998 in perspective

June 1, 1999 Don Smith, Chairman of Trac Insurance Services

Last year I predicted 1998 would bring back a deteriorating trend to the property and casualty insurance industry. In addition to the January ice storm, I felt that the continuing “soft market” would have a negative impact on underwriting results.