Industry can meet Sept. 11 commitments, says A.M. Best
November 1, 2001 by Canadian UnderwriterAlthough the September 11 terrorist attacks are “unprecedented in scope and complexity,” the industry will be able to meet its commitments, says Larry Mayewski, executive vice president and chief rating officer for A.M. Best. “The direct and indirect impact of…
IBC helps recover more than $16 million in stolen vehicles last year
October 22, 2001 by Canadian UnderwriterIn the last fiscal year (July 2000 to June 2001) the Insurance Bureau of Canada (IBC) has played a part in the recovery of 666 vehicles nationwide, valued at more than $16 million. The IBC’s Investigative Services Division (ISD) adds…
MPI changes tune on rate reduction
October 4, 2001 by Canadian UnderwriterFollowing announcement of higher than normal claims payouts this summer, Manitoba Public Insurance (MPI) is taking back its request to the province for a rate reduction for motorists.Hail storms in August are partly to blame for the decision, which will…
The Smart Home of the Future
October 1, 2001 Andy Walker, Cyberwalker Media SyndicateJust as items in a store are tracked through UPN codes, the items in homes may soon be “tagged” and tracked. And this is just the beginning of new “smart home” technology. New systems are under development that could put a very different face on the house of the future.
Industry’s ROE slips again on rising claims (September 01, 2001)
September 1, 2001 by Canadian UnderwriterCanada’s property and casualty insurers came home with a meager 2.6% return on equity (ROE) for the 12-month period to end June this year. The latest quarterly financial figures released by the Insurance Bureau of Canada (IBC) show a 70%…
Quebec broker sets online selling launch
September 1, 2001 by Canadian UnderwriterFollowing last fall’s announcement that Quebec brokerage DiPerno and Associates would be among the first to launch an online sales vehicle, AssureMoi.com president Mark DiPerno says the site will be up and running at the beginning of October. The first…
Industry’s ROE slips again on rising claims (August 27, 2001)
August 27, 2001 by Canadian UnderwriterCanada’s property and casualty insurers came home with a meager 2.6% return on equity (ROE) for the 12-month period to end June this year. The latest quarterly financial figures released by the Insurance Bureau of Canada (IBC) show a 70%…
Alberta warns against unlicensed insurers
August 1, 2001 by Canadian UnderwriterAlberta’s insurance regulator has issued a public warning against operators said be selling insurance products within the province without a license. This move follows on legal action taken by Ontario’s financial services regulator last month against a company believed to…
Blame the Car…
August 1, 2001 Sean van Zyl, EditorOnly a numskull politician could possibly suggest that cars are to blame for what their idiot drivers do. Yet, that seems to be the message Quebec’s (questionably) revered Minister of Transport, Guy Chevrette, has charged. At a recently held media…
Auto Insurers, Watch Out for That “Strike Suit”
August 1, 2001 William Blakeney, of Blakeney Henneberry BakshThe outcome of a class action lawsuit filed in Ontario against the Co-operators General Insurance Co. in an attempt to reclaim amounts the insurer allegedly gained from salvage following a total loss write-off of a vehicle and deductible charged to the insured, could herald a new attack of “strike suits” against auto insurers
OSC/FSCO Merger: Significant Change for Ontario Insurers
August 1, 2001 Brian Reeve, partner at Cassels Brock & Blackwell LLPThe proposed merger of FSCO and the OSC holds significant implications for Ontario’s insurers, with perhaps the greatest ramification being the “rule-making” authority that the new regulatory body will hold over the financial services industries. It is therefore critical that insurers make themselves familiar with the proposed merger legislation before it is inacted.
Quebec broker ready to launch online sales
July 18, 2001 by Canadian UnderwriterFollowing last fall’s announcement that Quebec brokerage DiPerno and Associates would be among the first to launch an online sales vehicle, AssureMoi.com president Mark DiPerno says the site will be up and running in the next few weeks. The first…