Scrambling for loose business
December 1, 1999 Lowell ConnSports insurance is a specialty-lines oddity. It is unprofitable business marred by rising loss payouts not accurately balanced by the premiums generated. It is a competitive market where premium prices should be two or three times their current rate, insiders…
The future of distribution: Keeping our Options Open
December 1, 1999 Doug Davis of Davis Consulting Inc.With increasing attention being brought to bear on the cost of distribution and how to improve competitiveness, insurers and independent brokers alike are repositioning. This, however, is having a noticeable impact on the industry’s “traditional relationships,” leaving many within the industry unsure to the “what”, “where” and “how” of the future of the independent broker profession.
FOCUSSING EDUCATION
November 1, 1999 by Canadian UnderwriterThe IBAO will continue pursuing its provincial “off-site” education program, which was launched at the association’s 1998 Convention, says Rodney Hancock, education chair. And, while the program has proven “highly successful” for a first year, he adds that some fine-tuning…
OLD DOGS LEARNING NEW TRICKS
November 1, 1999 Lowell ConnTaco Bell’s Chihuahua campaign, launched in late 1997, has become the pre-eminent brand recognition success of the late 1990s. The ad spots, featuring a talking Mexican dog whose only desire is to pursue Taco Bell food, has resulted in a…
Identifying and Managing Risk
November 1, 1999 Jane Voll, director of policy and research, and Andrew Keppen, rThe 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…
A Brave New World
November 1, 1999 Sean van Zyl, EditorThe term “globalization” has become yet another buzzword expression littering the field of industry jargon. Similar to other grand but ambiguous phrases like “business reengineering” and “corporate repositioning” (among a broad host too numerous to mention), the term globalization jumps…
Broker networks position
November 1, 1999 by Canadian UnderwriterBroker consolidator Equisure Financial Network Inc. (TSE: EFN) has in partnership with the ING group launched a new general insurance company to be licensed across Canada. Ownership of the new insurer, Northbrooke General Insurance Company of Canada, will be equally…
CGU snaps up GAN Canada
October 1, 1999 by Canadian UnderwriterIn a deal valued at $139.5 million, CGU Canada Ltd. has purchased The GAN Company of Canada Ltd. from its French owner GAN International. GAN Canada is the 22nd largest property & casualty group in the country with net written…
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…
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…
U.S. insurers hit by Floyd
October 1, 1999 by Canadian UnderwriterU.S. property and casualty insurers will pay homeowners and businesses an estimated $1.3 billion for insured property damage caused by Hurricane Floyd, according to preliminary calculations by the Insurance Services Office Inc. Hurricane Floyd hit 16 states, from Florida to…
The mechanics of Ontario’s collision repair
October 1, 1999 by Canadian UnderwriterOntario’s collision repair industry is undergoing fundamental change — however, it is a change that spells good news for a besieged industry, insurers as well as a beleaguered consumer.