Features
Dispute resolution for the new millennium
March 1, 1999 by Canadian UnderwriterIn response to the growing need for alternative and effective mechanisms in dealing with potential legal disputes, British Columbia’s insurance industry recently launched the Insurance Dispute Resolution Services of B.C. One of the more innovative features of this resolution process…
Hub/Co-operators on partnership bandwagon
February 1, 1999 by Canadian UnderwriterCo-operators General Insurance Company is the latest insurer to take an ownership position in a broker network, trading its equity holdings in Ontario-based Barton Insurance Brokers to the Hub Group in exchange for an approximate 10% stake of the latter’s…
Letters (February 01, 1999)
February 1, 1999 by Canadian UnderwriterDear editor: Vibration from construction equipment, or blasting operations commonly results in claims from nearby homeowners for structural damage to their residence. It is now common to conduct pre-construction surveys of such residences to document any existing damage prior to…
Aces high
February 1, 1999 by Canadian UnderwriterBermuda-based ACE Ltd., listed on the NYSE, has acquired the global property and casualty insurance operations of CIGNA Corporation for US$3.45 billion. Subject to regulatory approval by the end of June this year, the deal will be cash financed which…
AXA forms Quebec bank alliance
February 1, 1999 by Canadian UnderwriterIn response to the opening up of Quebec’s insurance market to the Caisse Populaire Desjardins through the controversial Bill 188 which was passed by the province last summer, AXA Insurance has entered into a marketing partnership with National Bank to…
WWW.SEEKING YOU
February 1, 1999 Andy WalkerInstant communication has come to the computer desktop through a miraculous little software company called Mirabilis. The Tel Aviv based company has revolutionized communication across the Internet with its innovative little program called ICQ which translates to the not-quite-acronym “I…
On The Move (February 01, 1999)
February 1, 1999 by Canadian UnderwriterHannover Re has announced the appointment of Dr. Detlef Steiner to the Executive Board at Hannover Re for the North American market, for worldwide facultative reinsurance and claims. Until 1998, Steiner was a member of the Corporate Executive Board at…
Reinsurers partner on weather trades
February 1, 1999 by Canadian UnderwriterNew York-based Worldwide Weather Trading (WWT), a trading company dealing exclusively in weather hedges, has announced agreements with 10 reinsurers to underwrite its trading risk. With the announcement, the company unveiled its new trading offices in New York, facilitating full-scale…
Where the paper trail stops
February 1, 1999 Philip Sceviour, President of Panda Systems Inc.With most insurance claims the paper trail starts with an incident report. The incident report is then prepared as a claim report by the internal claims handler who in turn creates a paper track process. A third party adjuster then…
Financial MANAGEMENT LIABILITY
February 1, 1999 Shelley BoyesBugs, big deals, bad spills and a certain public official’s sexual high crimes and misdemeanors were all key factors driving the corporate insurance market throughout 1998. And the same scary financial exposures will likely be very much in the minds…
Hi-tech streamlines car rental process
February 1, 1999 Matt Darrah, vice president of Enterprise Rent-A-Car, TorontoConsistency and convenience have been earmarked as the key factors likely to satisfy the consumer of the future. The rapid advancements made on the technology front over recent decades are largely responsible for this shift in consumer expectations. To survive…
AutoRate Warning
February 1, 1999 Linda Matthews, COO of Royal & SunAllianceOntario’s auto insurance regulations under Bill 59, and the latest revisions under Bill 90, have created a unique legislative environment in the provincial governing of consumer insurance. So much so that several provincial insurance regulators have eyed the legislation as…