Dominion president calls for B.C. auto insurance deregulation by 2003
June 18, 2001 by Canadian UnderwriterSpeaking at the recently held AGM of the Insurance Brokers Association of British Columbia (IBABC) in Kelowna, George Cooke of the Dominion of Canada General Insurance Co. praised the "unwavering commitment" of the province’s new premier Gordon Campbell to increase…
MPI wants to lower premiums
June 7, 2001 by Canadian UnderwriterManitoba’s drivers could be paying even lower rates in the coming year if the public insurer there has its way. Manitoba Public Insurance (MPI) has applied to the Public Utilities Board for an overall premium reduction of 1.2%, the fourth…
Auto claim costs PILE UP
June 1, 2001 Vikki SpencerAs controversy over aftermarket parts use continues to swirl in the wake of the State Farm verdict, insurers, auto manufacturers, and those in the collision repair industry are looking at how to make driving safer and reduce accident costs. With auto insurers facing dismal results across the country, and in Ontario in particular, the need to tackle these costs is clear. But the role aftermarket parts, recycled parts, theft deterrents, and vehicle design will play in this attempt to bring profitability back to the auto insurance market was very much up for discussion at the recent Auto Insurers and Manufacturers (AIM) forum held in Mississauga.
A SURE HAND AT THE WHEEL
June 1, 2001 AxiomWith my boss, Fred Wilson, at the wheel, we maneuvered the comfy van on to the highway and headed for the golf course. As manager of the company’s downtown branch, Fred was in close daily contact with many of our…
Deterioration marks Facility results
June 1, 2001 by Canadian UnderwriterPoor results in the overall auto market are carrying over into the Facility Association, the insurance pool for high-risk drivers. At the association’s recent AGM, outgoing CEO Stan Griffin noted that in Ontario combined ratios for the FA jumped from…
ON THE RIGHT TRACK
May 1, 2001 Vikki SpencerA recent decision by the Newfoundland Public Utilities Board has created the platform for a “sure victory” for the property and casualty insurance industry’s Facility Association (FA). This development has also produced a heady start for Stan Griffin, the current…
UNLOCKING B.C.’S AUTO MARKET
May 1, 2001 Sean van Zyl, EditorAt the time of writing this article, less than two weeks remained before voters in British Columbia will be asked to choose a new provincial government. And, in the lead-up to B.C.’s provincial election set for May 16, polling results suggest that the current ruling New Democratic Party (NDP) will likely garner less than 20% of the popular vote, while the opposition Liberal Party seems to be favored by 80% of the province’s voters. As media reports in B.C. point out, it is not a case of whether the Liberals will win, but by how much. What does this have to do with the insurance industry? A change in government in B.C. this year – particularly with the Liberals in the driving seat – could herald the beginning of deregulation of the province’s $2.6 billion “basic auto” insurance marketplace which for the last 27 years has been legislatively protected and underwritten by the Insurance Corporation of British Columbia (ICBC).
LEGAL COUNSEL COSTS: VALUE OR NOT?
April 1, 2001 Paul Iacono, a senior partner at Iacono BrownInsurers today do not retain trial counsel. They retain counsel to prepare a case for settlement with the view that the appropriate legal resources will be available if ever needed. Unfortunately, the current working relationship of hourly billing that exists between insurers and their outside legal counselors has created an ineffective and costly process which cannot go unresolved. However, there are alternative fee solutions which can work for all parties.
A NEW ORDER VALUE OR LOST OPPORTUNITY?
March 1, 2001 Sean van Zyl, EditorComing years will see increased attention being brought to bear on the service performance of the claims management side of the insurance business, delegates who attended the recently held Canadian Insurance Claims Managers Association and Canadian Independent Adjusters Association joint…
Cross-Canada broker survey BRIDGING THE GAP
March 1, 2001 Vikki SpencerA time of sweeping change. This is no understatement of the current regulatory, market and distribution conditions in the insurance industry. For the country’s brokers, this time of change means refocusing lobby efforts, translating the hardening of rates to their…
TIME, a new currency for a new economy
February 1, 2001 David Plouffe, president of Insurance Technology Advisors Ltd.“If I could save time in a bottle…” These fateful words of the late Jim Croce, dating back to the 1970s may prove to be a most insightful prediction for the 21st century man. Why should you spend your time…
DELIBERATE ACTS: THE END OF AN ARGUMENT
January 1, 2001 William Blakeney, a senior partner of Blakeney Henneberry BakshInsurance coverage for intentional acts — specifically sexual abuse allegations — has been one of the most contentious areas of insurance law over the past five years. The controversy has pitted some of Canada’s oldest and most respected religious and…