Defining Ontario’s Insurance Regulation
May 1, 2000 Vikki SpencerWith the creation of the Financial Services Commission of Ontario (FSCO) in 1998, the province took on the task of reconciling the interests of consumers with a patchwork quilt of industries governed by almost a dozen different set of rules.…
FOURTH ANNUAL WOMEN IN INSURANCE CANCER CRUSADE
May 1, 2000 by Canadian UnderwriterUnderwriters Adjustment Bureau and the Insurers’ Advisory Organization have successfully completed ISO 9002 certification throughout the Ontario region, announced Fred Jacques, senior vice president of quality assurance for both groups. UAB/IAO provides claims handling loss control and risk information service…
High Impact Ahead
May 1, 2000 Sean van Zyl, EditorWith the growth of property and casualty insurance industry earnings having plummeted to almost a 20-year low on the back of poor investment returns and intense rate competition — which saw last year’s annual rate of premium growth clock in…
Facility Association numbers decline
May 1, 2000 by Canadian UnderwriterThe number of policyholders in the high-risk Facility Association pool continued to decline in 1999, reports president Stan Griffin at the association’s recently held annual general meeting. Although the combined ratio of the market rose by 10 percentage points year-on-year…
RIMS drives loss data standards
May 1, 2000 by Canadian UnderwriterThe Risk and Insurance Management Society (RIMS) has revealed plans to develop standards for the exchange of loss data between insurers, service providers and the risk management community. The results of a viability study were presented to RIMS last month.…
Developing niche lines of business: The garage sale closed
March 1, 2000 by Lowell ConnWhen the “garage sale” begins and market players undercut one another, nowhere is the reverberations felt any stronger than the specialty lines business. Niche operators want the message to be clear: “Stay out of out of our business”. More to…
RISK MANAGEMENT STRATEGIES BEYOND
March 1, 2000 Sean van Zyl, EditorSusan Meltzer, president of the Risk and Insurance Management Society (RIMS) for the 1999/2000 term, bridled in her opening comments in the panel discussion to a previous reference made by a seminar speaker at the RIMS’ “Operational Risk Management” conference…
Coming Events (March 01, 2000)
March 1, 2000 by Canadian UnderwriterAnnouncements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Toronto Insurance Women’s Association:…
U.S. fin-reform focuses CEO strategy planning
March 1, 2000 Sean van Zyl, EditorThe repeal of the U.S. Glass-Steagall legislation toward the end of last year has opened what many in the property and casualty insurance industry see as a “Pandora’s box”. The legislation was replaced with the Financial Services Modernization Act of…
On The Move (March 01, 2000)
March 1, 2000 by Canadian UnderwriterQueensway Financial Holdings Limited has announced the appointment of H. Anthony Arrell and Patrick Hodgson to Queensway’s board of directors. Arrell is the chairman and chief executive officer of Burgundy Asset Management Limited. Hodgson is the president of Cinnamon Investments…
The Political Lobbying War Heats UP
March 1, 2000 Sean van ZylControl over the distribution of insurance products is once again back on the property and casualty insurance industry’s radar screen as the federal government’s proposed white paper on financial services competition is set to go forward before parliament for legislative…
The Face of REGULATION
February 1, 2000 David CarrTechnology, globalization, deregulation, consolidation and demutualization. These are the forces of change shifting the ground beneath the world’s financial services industry. Such change is drawing into question the effectiveness of regulators such as Canada’s Office of the Superintendent of Financial Institutions (OSFI) to remain relevant to its role, particularly in light of the new non-traditional players such as technology companies in financial services.