At 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).
Like it or not, Winston Morris, chair of Canadian Council of Insurance Regulators (CCIR) and assistant deputy minister of commercial and corporate affairs in Newfoundland and Labrador, has found his name in the news quite a bit lately. Public hearings…
Incoming Insurance Brokers Association of Ontario (IBAO) president Dan Danyluk is no stranger to “selling passion”, he says. And, in a time of intense regulatory change, e-commerce explosion and swift market shifts, he intends to sell insurers, brokers and the…
Queensway Financial Holdings Limited has announced the appointment of Glenn Gibson as chief financial officer of Queensway replacing Cathy Wilson. Gibson brings more than 17 years of financial management to his new role. Chubb & Son vice president John Owens,…
The Insurance Bureau of Canada (IBC) recently completed a survey in conjunction with management consultants Deloitte & Touche to identify what internal risk control procedures property and casualty insurers have or should be applying in evaluating strategic, operational and capital…
Is a new subsidiary, new product or policy form on the horizon for your company? If so, better be prepared for slippery target dates. Lengthy delays in licensing can occur when companies or their brokers develop new products which don’t…
The early 20th century was a revolutionary time for the fine art community, with “modern artists” such as Henri Matisse carrying forward the early exploration attempts of the impressionist painters in testing conventional “realist” theory. In many respects, the modern…
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.