Canada is big business — amounting to some $17 billion each year. And, although Canada’s money recycling black market is minor in global terms (which the U.N. estimates to be $1 trillion worldwide), there are weaknesses in the current financial…
As we completed our tour of the brokerage’s renovated offices, Saul led me into a small boardroom on the second floor. Three men sitting around the table rose to their feet. “Dave,” he said with a smile, “meet my three…
Last June the federal government released its white paper on financial services regulation. While the gist of the paper was very much in favor of protecting the existing rights of members of the property and casualty insurance industry, contained within…
As an industry within the personal financial services sector, our customers don’t like us very much. To tell you the truth, I don’t blame them.; The SAME PRODUCT,
Delphi Information Systems has officially launched ebix.com, their internet-based data exchange system that allows insurers, brokers and consumers to communicate, exchange quotes and conduct business online. Currently, only U.S. consumers can purchase insurance through the site. As first reported in…
Despite 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…
Ontario’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.
The recent acquisition of insurance wholesale broker KMS Insurance by consolidator The Hub Group emphasizes the change consolidation is bringing about throughout the broker distribution channel. Wholesale brokers and managing general agents have been brought into the market fray of soft rates and the eternal drive for cost-efficiency. Is there a future for this particular breed of broker — most of the players believe so, but each appears to be taking a different course.
With year 2000 reinsurance treaty negotiationscurrently in full swing, there is a desperate hope among the players that rates will return to moresensible levels. However, faced with increasedcompetition, both locally and globally, reinsurersanticipate a long road ahead before the soft…
“The future of the independent broker is up to the independent broker,” says George Cooke president of The Dominion of Canada General Insurance Company. A favorable future lies ahead of the independent broker if the members of the profession want…
Whether traditional players in the property and casualty insurance industry continue to hold the lion’s share of business will depend on their willingness to embrace consumer-driven technologies and boost productivity, delegates attending the recently held Strategy Institute conference were told. In particular, the pressure of higher consumer expectations coupled with increased competition from new players to insurance will be felt mostly in the personal lines arena, the speakers warn.
Listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. have announced their intention to merge operations with netpremium volume of $277 million. The newly formed corporation — expected to retain the Brokerlink brand name — will trade shares with…