Hub goes public
March 1, 1999 by Canadian UnderwriterThe Hub Group Ltd., a broker consolidator, has gone public listing on the Toronto Stock Exchange as HBG. The initial public offering, underwritten by CIBC Wood Gundy Securities, distributed $11.7 million Hub common shares to the public at an opening…
A turning point in professionalism
March 1, 1999 by Canadian UnderwriterThe risk management profession is coming of age, says Susan Meltzer the incoming president of the Risk and Insurance Management Society Inc. Meltzer will be the fifth Canadian president to take the reins of North America’s most prestigious organization representing the development of risk managers. She is also the first Canadian woman to occupy the presidency chair of RIMS, a task she does not find daunting in the least. Her message: it’s time for risk managers to look ahead.
CORRECTION (March 01, 1999)
March 1, 1999 by Canadian UnderwriterNews
Weathering the storm
March 1, 1999 Sean van Zyl, EditorThere are few leaders in the Canadian property and casualty insurance industry applying an optimistic view of business and earnings growth in 1999. In fact, premium growth across the lines is unlikely to exceed the country’s expansion of gross domestic…
Liberty Risk Services’ LEADING-EDGE APPROACH to bottom-line savings
March 1, 1999 by Canadian UnderwriterHealth management services have been an all or none proposition for corporate Canada. A company traditionally has to buy a bundle of services from one provider or assemble a program from a group of vendors. Liberty Risk Services Canada wants…
EDC hits record levels in 98
March 1, 1999 by Canadian UnderwriterThe Export Development Corporation (EDC) posted record year end results for 1998. The corporation provides financial and risk management services to Canadian exporters, serving a record 4,183 exporters last year — a 13% increase on 1997. The EDC’s business volume…
Dominion sets Chieftain launch
March 1, 1999 by Canadian UnderwriterDominion of Canada General Insurance has joined the growing rank of insurance companies offering broker call centre services. In the spring of this year Dominion will launch Chieftain Insurance in the Alberta and Ontario personal lines markets. Dominion president George…
Risk Management: It’s a Buyer’s Market
March 1, 1999 Lowell Conn and Sean van ZylDespite deteriorating conditions in the property and casualty insurance market, insurers continue to slash already low premium rates. Market observers forecast this trend to continue for at least 24 months as insurers prioritize marketshare over revenue prosperity. Simply put, the…
Reinsurers partner on weather trades
February 1, 1999 by Canadian UnderwriterNew York-based Worldwide Weather Trading (WWT), a trading company dealing exclusively in weather hedges, has announced agreements with 10 reinsurers to underwrite its trading risk. With the announcement, the company unveiled its new trading offices in New York, facilitating full-scale…
AutoRate Warning
February 1, 1999 Linda Matthews, COO of Royal & SunAllianceOntario’s auto insurance regulations under Bill 59, and the latest revisions under Bill 90, have created a unique legislative environment in the provincial governing of consumer insurance. So much so that several provincial insurance regulators have eyed the legislation as…
Ice Storm Lessons learnt
February 1, 1999 Paul Kovacs, Executive Director, Institute for Catastrophic LossAt the time, it captivated Canadians across the country and even today is at the top of book best seller lists. The raw power of nature displayed by the ice storm which paralyzed south eastern Ontario, Quebec and parts of…
Financial MANAGEMENT LIABILITY
February 1, 1999 Shelley BoyesBugs, big deals, bad spills and a certain public official’s sexual high crimes and misdemeanors were all key factors driving the corporate insurance market throughout 1998. And the same scary financial exposures will likely be very much in the minds…