Features
The Trials of Industry Mergers Acquisitions
January 1, 2000 David Carr1998 proved to be a record year for mergers and acquisitions (M&As) in the insurance industry, with total transactions exceeding US$150 billion. But the pace of insurance M&As sputtered in the second half of 1998, failing to pick up any real momentum in 1999. What lies ahead for 2000?
Alternative Dispute Resolution: “Virtual Settlement” online
January 1, 2000 Gary Winston, Director and General Manager of Canadian OperationPressed with rising claim costs and cutthroat pricing, insurers are having to look for cost-effective ways to reduce operating costs. Technology is expected to play a significant role in this respect in coming years, however an area offering enormous short-term scope is electronic settlement of casualty losses. Virtual settlement has finally come to Canada.
Learning From the Masters
January 1, 2000 Lowell ConnThe independent adjuster faces an array of challenges in the year ahead, concedes new Ontario Insurance Adjusters Association (OIAA) president Christina Welton. Greater regulatory scrutiny on licensing, a pending court case that could introduce more liability for claims professionals, and…
Passing The Torch
January 1, 2000 Lowell ConnA recent recipient of the Insurance Marketing Communications Association Golden Torch Award, honouring communication within the industry, Jan Lowther has surprised her peers once more. The flamboyant group publisher of Canadian Underwriter magazine has announced her retirement ending a twenty three year tenure with the publication.
The Distribution Challenge Of 2000
January 1, 2000 Sean van Zyl, EditorThe North American Insurance Conference, recently held in St. Petersburg Beach, Florida, drew an equal crowd of Canadian and U.S. insurance attendees, the event speakers covering a broad range of subjects from reinsurance market conditions through to the impact of…
Strong Winds are Blowing
January 1, 2000 Paul Kovacs, executive director of the Institute for CatastrophiWith the 1999 hurricane season recently closing with the last minute arrival of Hurricane Lenny causing considerably and unexpected damage in the Caribbean, the timing of the recently jointly held Institute for Catastrophic Loss Reduction (ICLR) and Insurance Bureau of…
The Edge of Claims Handling
January 1, 2000 AxiomAs the company’s senior marketing representative, this occasion was a command performance for me. My company was unveiling its new and improved 24-hour claims service, which included a fleet of modern cell phone, fax and computer-equipped cars to take our…
Assessing EFFECTIVE Occupation Rehabilitation
January 1, 2000 Craig McCleary of Ability To Function Inc.One of the grayest areas of claims management is effective assessment of occupational related disabilities. In determining a claim settlement, the insurer not only has to judge the merit of the claim presented, but as well the accuracy of the assessment data used. However, the latter is now an area which can be more effectively managed through professional and well documented “functional evaluation” (FE) procedures.
On The Move (January 01, 2000)
January 1, 2000 by Canadian UnderwriterCrawford Adjusters Canada has announced the appointment of Santo Carbone as vice president of corporate services. He replaces retiring Rex Stephenson. Carbone has 20 years of experience as an adjuster with expertise in claims management, customer relations and problem solving.…
RIMS releases benchmarks
January 1, 2000 by Canadian UnderwriterThe cost of risk has risen in the U.S. but dropped in Canada, according to the recently released Risk & Insurance Management Society (RIMS) 1999 Benchmark Survey. The annual report, co-authored by Ernst & Young, polled 737 American and 79…
Coming Events (January 01, 2000)
January 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. Ontario Risk & Insurance…
IBC proposes Disaster Reduction Plan
January 1, 2000 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is proposing the establishment of a Natural Disaster Reduction Plan, which would see all levels of government contribute a total of up to $750 million over five years to create a Natural Disaster Protection…