Crawford strikes western hold
September 1, 2001 by Canadian UnderwriterThe recent purchase of Edmonton, Alberta adjusting firm Leonard, Hirst & Miller (LH&M) has provided Crawford Adjusters Canada with a firm foothold in the west. Crawford CEO Glenn Gibson says the “fit” of LH&M’s professional expertise was a main attraction.…
Breaking from the “Burger Chains”
September 1, 2001 Sean van Zyl, EditorAfter more than 10 years of heated debate and political positioning by various stakeholders, the new federal financial services legislation under Bill C-8 was proclaimed this past June. The new legislation was passed with the all-important block against the banks selling insurance products through their branches – this despite a delay in the bill’s delivery due to the last minute general election call in the fall of last year. The fact that banking representatives made it clear before the Senate Financing Committee just prior to the passing of Bill C-8 that they expect financial services reform to be re-addressed incoming years, is a clear sign that independent insurance brokers cannot let up the pressure in their political lobbying campaign, says Ginny Bannerman, incoming president of the Insurance Brokers Association of Canada (IBAC).
St. Paul gains top surety ranking in Canada
September 1, 2001 by Canadian UnderwriterU.S., Minnesota- based specialty risk insurer St. Paul Companies has acquired London Guarantee Insurance Co. from Canadian-based Great West Lifeco. Inc. for $125 million. The deal has boosted St. Paul to lead-ranking underwriter of surety business in Canada. The deal…
Rehab Costs Insurers Look for New Treatments
September 1, 2001 Ian Campbell and Barbara Sulzenko-Laurie of the IBCRehabilitation healthcare costs associated with auto injuries have almost overnight become one of the biggest cost concerns for Canadian insurers. While the dramatic rise in treatment costs has much to do with attempts by the provincial governments over recent years to shift the spiraling healthcare cost burden onto the private sector, the greater injury to insurers lies in the myriad of unregulated service providers operating in the rehab sector and the ineffectiveness of the current “fee-for-service” payment system.
St. Paul acquisition of London Guarantee secures Canadian positioning
August 3, 2001 by Canadian UnderwriterMinnesota-based The St. Paul Companies (NYSE: SPC) has purchased specialty liability underwriter London Guarantee Insurance Co. from the Great West Lifeco Inc. (TSE: GWO) for about $125 million.London Guarantee is ranked second as market leader in underwriting surety business and…
DAVE’S TOP 10
August 1, 2001 AxiomIt was annual broker review time. Like all my company’s marketing representatives, I had to hold up an objective magnifying glass once a year to each of my brokers. I had to assess each one, listing their strengths and their…
Taking New Risks
August 1, 2001 Vikki SpencerWith the increasing emphasis being placed on the risk management function within the corporate setting comes increased responsibility and the demand for additional knowledge about a variety of risks. And, with Canadian companies moving forward into the global economy, the onus on risk managers to provide expert advice on new risks and new risk transfer opportunities is growing. This year’s conference of the Canadian chapters of the Risk and Insurance Management Society (CRIMS) is a chance to move risk managers into the new millennium, say organizers Paul Gray and Karin Zabel.
RIMS CONFERENCE 2001: ON THE WORLDSTAGE
July 1, 2001 Vikki Spencer“We stand on the verge of an incredible opportunity.” With these words, incoming Risk and Insurance Management Society president David Mair opened the society’s 2001 conference in Atlanta. The opportunity, he says, comes from the changing insurance market, and the…
Canadian Insurance Congress 2001: A CULTURAL CRISES
July 1, 2001 Sean van Zyl, Editor“We haven’t seen [adverse financial] conditions such as this in the last 50 years,” says the Insurance Bureau of Canada’s (IBC) chief economist Paul Kovacs. As one of the opening speakers at this year’s Canadian Insurance Congress, Kovacs points out…
Hub expands U.S. presence
June 18, 2001 by Canadian UnderwriterFollowing on the heels of its purchase of U.S. brokerage Kaye Group Inc., Canadian-based Hub International has picked up J.P. Flanagan Corporation. The Chicago brokerage has satellite offices in Baltimore, Cleveland, Denver and New York, and last year had annual…
HEALTHCARE CLAIMS MANAGEMENT gets the Internet treatment
June 1, 2001 Brenda Rusnak, CEO, ACTIVE Health Management Inc.Compounded by consumer needs and stiff competition within the industry, insurance companies are forced to find new and innovative ways to differentiate themselves from their competitors. It is no longer enough to improve the efficiency of internal administration, insurers must…
Collision Repair: SERVICE DETERMINES PROFITABILITY
May 1, 2001 Sean van Zyl, EditorSpeakers of an insurer/collision discussion panel hosted by the industry’s international education body I-Car at its recent Canadian national conference were provided with the stark theme of dealing with “reality”. On a particularly “realistic note” was the thick tension in…