Assurex International has expanded its operations in Canada with the addition of Phoenix Group Corporation in Edmonton, Alberta, to its list of broker partners. Lipscomb & Pitts Insurance, LLC, of Nashville, Tennessee, also joins Assurex’s network of nearly 70 independent…
There is little wonder to why insurance company leaders are reluctant to embrace e-commerce wholeheartedly. Having being struck a double whammy of first “panel beating” their multi-million dollar legacy-based systems into shape for Y2K, then being told these same platforms…
The 2000 Canadian Insurance Congress — which this year celebrated its tenth anniversary as Canada’s premier annual reinsurance/primary company CEO forum — drew together a strong cast of speakers from across the sectors of the North American property and casualty…
The rise of direct insurers has energized discussion about regulating product sales inducements. While many brokers fight to maintain the prohibition on inducements, others are asking the question, “who are we protecting?” And regulators are starting to respond, rewriting the…
The global reinsurance market suffered its worst underwriting year in 1999, largely as a result of natural disaster catastrophe losses estimated to having cost the industry about US$24 billion. European reinsurers finished 1999 with an alarming 131% combined ratio, the…
What are some of the world’s reinsurers doing to move forward amid what has been the worst market downturn in recent memory?
The Export Development Corporation (EDC) has earmarked $1 million over three years for an International Studies Scholarship, to be administered by the Association of Universities and Colleges of Canada. Undergraduate students pursuing degrees in business or economics focussing on international…
Larry Simmons is stepping into the role of president and COO of Royal & SunAlliance Canada, effective with the departure of Linda Matthews later this year. Simmons is currently COO of commercial insurance for the company’s US operations and has…
Armed with over 50 years experience in the insurance business, Simon Farrow is ready to lead a new company, Thompson General Insurance, onto the playing field. The market may be competitive, he says, but this “virtual company” is mixing state…
With the recent approval of the U.S. Financial Services Modernization Act, a considerable amount of attention in Canada has been turned to watch developments south of the border. Financial services legislative reform in the U.S. has opened the door to…
Fuelled by mergers, acquisitions, alliances and regulatory change, the idea of one-stop financial services shopping is becoming a reality south of the border. With caution, several insurers and brokers in Canada have broadened their focus to “test the market” on…
In a bid to become a full-service technology provider to the insurance industry, Toronto-based Keal Technology announced it has bought the insurance brokerage management systems division of CGI. The move makes Keal one of the largest broker systems providers in…