Appraising the rocky shore of risk
November 1, 1999 Michael HlinkaCanadian corporations are facing an increasingly litigious environment resembling that of the U.S., delegates were told at the Canadian Risk & Insurance Management Society conference held recently in St. John’s, Newfoundland. Dubbed “Risk on the Rock”, the conference’s speakers portrayed…
THE HUB INVASION
November 1, 1999 Sean van Zyl, EditorWhile most of the public broker networks appear to have eased off on their acquisitional sprees, newcomer The Hub Group Ltd. has no intention of slowing down. In fact, the group’s president Rick Gulliver has announced plans of a major thrust into the U.S. brokerage market in the year ahead, with the recent acquisition of a leading Chicago-based broker signaling the beginning of an ambitious campaign.
Broker Networks PAUSE FOR BREATHER
November 1, 1999 Sean van Zyl, EditorAlthough the public broker networks almost overnight captured 5% marketshare of Canada’s property and casualty insurance market in a stunning succession of acquisitions, the recent poor results of many of the operators, combined with a more wary investor attitude to…
IBAO 99 Convention: Competing in a New World
November 1, 1999 Lowell Conn AND SEAN VAN ZYLCelebrating the 79th year of its annual convention, this year’s Insurance Brokers Association of Ontario (IBAO) event included a discussion panel of global senior executives of the property and casualty insurance industry, their frank views forewarning of a new world of distribution ahead.
INDEPENDENCE ALIVE
October 1, 1999 Sean van Zyl, EditorIf anyone harbored doubts of the political clout capable of the independent broker movement in protecting its business turf, such a notion would have been soundly thrashed by the highly effective campaign wielded against the banks in the latest round…
Canada/U.S. data shows similar ails
October 1, 1999 by Canadian UnderwriterCanadian and U.S. property and casualty insurance results for the first half of 1999 show a marked decline in earnings, primarily due to weak investment returns and sluggish premium growth. Both the Canadian and U.S. industries witnessed a rise in…
INVESTING in a low interest market
October 1, 1999 Cameron Laird, senior vice president of securities investment atWith the potential of gaining profit on underwriting limited by the soft market, property and casualty insurers are increasingly looking at ways of boosting their investment earnings. However, in today’s volatile investment markets, coupled with a low interest rate environment, the task of achieving an above average return is easier said than done — but not impossible. Appropriate risk rating and investment strategy implementation can generate higher gains.
INDEPENDENCE or INTERDEPENDENCE?
October 1, 1999 Sean van Zyl, EditorDespite the recent and resounding victory of independent property and casualty insurance brokers in blocking banks from branch retailing of insurance, Canada’s brokerage community faces many challenges on the road ahead. Even without the bank threat, the distribution end of…
The Peripatetic Rep: Four disciplines, one vision
October 1, 1999 AxiomAs we completed our tour of the brokerage’s renovated offices, Saul led me into a small boardroom on the second floor. Three men sitting around the table rose to their feet. “Dave,” he said with a smile, “meet my three…
“DO or DIE”, strategy message is to embrace the TECHNOLOGY FUTURE
September 1, 1999 Sean van Zyl, EditorWhether traditional players in the property and casualty insurance industry continue to hold the lion’s share of business will depend on their willingness to embrace consumer-driven technologies and boost productivity, delegates attending the recently held Strategy Institute conference were told. In particular, the pressure of higher consumer expectations coupled with increased competition from new players to insurance will be felt mostly in the personal lines arena, the speakers warn.
REINSURANCE BROKER VIEWS
September 1, 1999 by Canadian UnderwriterDonald Alexander, senior vice president of Guy Carpenter & Company Ltd. (Canada). My instincts tell me that the reinsurance market is under-priced. Rating models strongly indicate that market prices are below what they should be. This is not surprising, given…
that TECHNOLOGY THORN
September 1, 1999 Sean van Zyl, EditorWith the conference and seminar season once again shifting into full drive, the message remains consumerism. Nothing new — the insurance industry has become almost anaesthetized by the repeated urgency to address consumer expectations. However, the latest round of discussions…