Industry News

MGAs struggle with E&O burden

(June 14, 2005) Advisors who find their errors and omissions insurance (E&O) coverage too expensive can take comfort knowing they’re not alone — managing general agencies (MGAs) on the insurance side have the same problem. “Underwriters fear uncertainty, they won’t assume any risk they cannot quantify and they decline the offering they cannot understand,” said […]

By Steven Lamb |June 14, 2005

5 min read

Hedge funds look at marketing promises

(June 14, 2005) Canada’s hedge fund industry, in the spotlight thanks to redemption freezes at two fund complexes, has released a set of guidelines that might help advisors and investors avoid problems in the future, or at least get a better grasp on the potential risks they are incurring. The guidelines, six months in the […]

By Scot Blythe |June 14, 2005

4 min read

Briefly:

(June 17, 2005) The British Columbia Securities Commission has ruled that an English stock promoter violated provincial securities laws by trading on inside information and manipulating the market. Fatir Hussain Siddiqi of London traded in shares of AIS Resources while he had inside information about AIS and manipulated the market in the company’s stock, the […]

By Staff |June 13, 2005

12 min read

More MGAs embracing technological change

(June 13, 2005) Insurance company sales processes are notoriously behind the times relative to developments in the mutual fund industry. Where mutual fund companies regularly process transactions electronically, many insurance producers routinely file paper-based applications for their clients. Although this part of the industry can be highly resistant to change, managing general agencies (MGAs) are […]

By Kate McCaffery |June 13, 2005

3 min read