Industry

IFB reduces E&O rates

(June 10, 2005) Independent Financial Brokers of Canada is reducing its errors and omissions insurance rates and introducing higher coverage limits. IFB’s rates now start at $750 per year for $1 million in coverage, a $50 decline. IFB has also secured additional coverage for members who require limits of up to $2 million, with those […]

By Doug Watt |June 10, 2005

2 min read

SEC seen backing off on enforcement

(June 10, 2005) William Donaldson’s decision to step down as chair of the U.S. Securities and Exchange Commission will mark a change in direction for the agency. Donaldson was appointed in 2003 at a time when public confidence in the U.S. securities markets had been shaken by corporate accounting scandals. In response, and under some […]

By Philip Porado |June 10, 2005

3 min read

MGAs urged to come together

(June 10, 2005) Managing general agencies, by their own admission, are an incredibly splintered group. To the outside observer, the business model MGAs have created for themselves appears competitive to the point of dysfunction. Cost downloading and increased pricing pressures from the insurance carriers however could be the catalyst needed to create unity and cooperation […]

By Kate McCaffery |June 10, 2005

3 min read

Crocus debacle could affect entire LSIF sector, experts warn

(June 9, 2005) While the recent scathing report from Manitoba Auditor General Jon Singleton focused exclusively on the Crocus Investment Fund, industry experts warn the fallout could spread to labour-sponsored funds throughout the country. The 245-page report — five months in the making — identified numerous causes for the $61.1 million decline in the value […]

By Geoff Kirbyson |June 9, 2005

3 min read