The difference between an Internet presence and soliciting business through the Internet can be significant in terms of legal exposure. With the serious growth seen in commercial entities on the web over recent years, the regulators are now beginning to address some of the legal accountability issues of jurisdiction and local laws. However, for the time being, selling insurance over the Internet holds many legal pitfalls.
Business 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…
Several 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…
St. Paul Fire and Marine Insurance Co. has announced Doug Wyseman, a leader in the field of risk management for the public sector, has joined the company to establish niche loss control services for its new public sector insurance division.…
With e-commerce widely predicted to explode into the mainstream world of business in coming years, the lure of “getting into the ‘net game” before it becomes too late is almost irresistible for most companies. In particular, the Internet is expected…
The 1990s saw considerable attention drawn to the global benefits of the so-called “hot” developing economies such as South America, Asia and the former Eastern Bloc countries. Most recently, we have seen plunging stock markets and economic uncertainty resulting in these same areas. Strangely, these have a link with trends in Canadian financial supervision.
The numbers say it all. Canada’s property and casualty insurance industry suffered one of its worst year-on-year performances last year, posting a modest return on investment of 7.1% — nearly half of 1997’s rate of return. Heavy underwriting losses incurred…
Cecil Rhodes, the 19th-century British financier, colonial administrator and sponsor of Oxford’s prestigious Rhodes Scholarship, once said, “I would annex planets if I could.” A read through the financial pages of any newspaper would suggest that many corporate presidents and CEOs feel the same way.
First-quarter results of the U.S. property and casualty insurance industry show signs of improvement; largely on the back of increased investment earnings derived from higher interest rates. The industry’s after tax income for the period clocked in at US$9.2 billion…
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…
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,…
U.S.-based A.M. Best Company has announced it has acquired TRAC Insurance Services Ltd. — an independent Canadian insurance rating agency — and renamed it A.M. Best Canada Ltd. The acquisition of Toronto-based TRAC is the latest step in A.M. Best’s…