Views (September 01, 2004)

The friends of Mike Yang are staging two events to raise funds for this industry veteran, who is recovering from a serious illness experienced last fall. Funds are needed to help Mike and his family modify their home and vehicle to accommodate his condition and recovery. The first reception is Thursday, September 23 from 5-7 p.m. at the Windsor Arms Hotel, Club 22, 18 St. Thomas St., Toronto. The second is October 7, 2004 at the Armenian Community Centre Banquet Hall, 45 Hallcrown Place, Toronto. Mike will be present for both events, and along with refreshments there will be a silent auction at each – prize donations are being welcomed. Cash donations can also be made directly. For more information contact Valerie Morrison at 905-754-0142 or Rick Bowers at 905-754-0139, or email friendsofmikeyang@yahoo.ca.

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MSA Research Inc. has released its 2004 Benchmark Report for the p&c industry, as well as MSA Research Life/Health, Canada software. Both contain industry results from the past five years of regulatory filings, plus breakdowns by various business lines and result criteria. MSA Researcher P&C is already available and all products can be found at www.msaresearch.com or by calling 416-368-0777.

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Accident Support Services International Ltd. has launched “Collision Reporting and Occurrence Management System” or CROMS II, a technology platform to streamline the collision reporting process. The system will allow brokers and insurers to access post-collision information online including such things as official police reports, photos and more. ASSI president Steve Sanderson says the program is especially helpful in raising “red flags” on suspicious claims by accessing VIN data. For more information visit www.accsupport.com.

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XN Risk Insurance Services (Canada) Ltd. has set up shop in Toronto as Canada’s newest managing general underwriter. The company will focus on providing management liability insurance for mid-tier (less than 250 employees, under $50 million in assets), privately-held companies. The new office will be headed by industry veteran Phil Hoyt as managing director. He brings more than 20 years experience with companies such as Safeco and Chubb to the new role. In other company news, XN Financial has teamed up with Assurex’s RCM&D to offer health insurance to individuals traveling into the U.S.

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A Hamilton, ON call center did its part to help in the aftermath of Hurricane Charley. ECHO Intake Solutions, a division of Cunningham Lindsey Canada Ltd., worked 24/7 following the August 15-16 disaster, fielding calls from claimants trying to put their lives back together following the storm. “In the past two weeks we’ve had upwards of 2,000 calls a day we’ve handled on behalf of U.S. insurers,” says Maureen Fraser, assistant vice president at ECHO. “During peak periods we’ve had up to 50 dedicated employees responding to distressed callers or dispatching claim reports to insurers, adjusters or catastrophe teams.”

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The Wholesale Insurance Group and BC-based Travel Underwriters have joined to create a plan which blends critical illness and travel insurance coverage. The companies say the coverage is a response to the increasing ability to survive major illness and thus the need for critical illness coverage, but combines this in a single product with travel coverage for medical, accident and more. The product will also be available through a proprietary online application for brokers.

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October will bring the “National Insurance Information Campaign” hosted by the Canadian Association of Insurance Women (CAIW). A contest is being held for the association most active in the campaign, which is aimed at raising awareness of the insurance industry. For more information, contact Dave Luckwell at 780-448-0645.

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Sitefyi has launched MyContactEngine.com, a site designed to react to customer inquiries made through broker websites. Not only does it generate a web form, but it also stores, sorts, creates databases and allows for customer analysis. For more information visit www.mycontactengine.com.

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A.M. Best has released its “Key Rating Guide” on CD-ROM and in print, with five years of performance indicators for insurance companies. The package includes access to BestDirect, which provides immediate notification of rating changes and other news. The rater has also released a new white paper and video explaining enhancements to is insurance company rating process. More information is at www.ambest.com.