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What’s New: In brief


October 5, 2005   by Canadian Underwriter


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Canada-specific software solutions developer PowerSoft and provider of technology solutions for the p&c insurance industry Applied Systems Canada have integrated PowerSoft’s PowerQuote rate comparison and sales tool with Applied Systems’ agency management systems, The Agency Manager (TAM) and TAMOnline. Making use of Applied Systems technology, PowerSoft will develop a two-way integration that will allow the exchange of client information in either direction between PowerQuote and current versions of TAM and TAMOnline. “Integration between TAM and PowerQuote means brokers will truly have choice for their front-end sales and quoting tools,” PowerSoft president Chris Lang says. Integration between TAM and PowerQuote will be completed soon and available across Canada.

The 15th Annual Insurity Claims Conference, “The Power of Decisions,” will be held November 1-4 at the Caribe Royale All Suites Resort and Convention Center in Orlando, Fla. Session topics will include integrated solutions, fraud management, data visualization, data mining and regulatory compliance. This conference is intended for property/casualty claims executives, adjusters, special investigation units (SIU), claims managers and IT management of claims groups. Celent Communications will make a presentation on how current trends affect the future of claims management, and there will be several hands-on workshops. ChoicePoint will discuss the integration of Insurity products with ChoicePoint data, public filings and third-party providers. Registration is $1,250 per person. To obtain a conference brochure and a registration form, contact madonna.eddy-brown@insurity.com.

XN Holdings, parent company of XN Financial Services and XN Risk Insurance Services, is introducing a cross-border solution for Canadian producers in need of High Value Homeowners’ coverage for high net worth clients and prospects. Through this offering, Canadian agents can retain control of their client’s cross-border insurance coverage while growing their business and legally deriving revenue from a broad range of foreign personal lines insurance placements. “XN Financial recognized that Canadians have a unique set of exposures and needs while traveling or living in the United States,” Dan Anber, president and ceo of XN Holdings, says. XN Financial has assembled a suite of ‘best in class’ products and services through a single coordinated access point for all personal lines cross-border insurance needs, using AM Best “A” rated carriers (or better). Products include high value homeowners’, windstorm, primary and excess flood, high limit excess liability coverage, superior automobile product, and high value valuable articles, among others. Each product is supported by “24/7” claims service accessible through the XN Global Service Center, based in Miami, Fla. As a fully licensed agent/broker capable of managing insurance transactions in multiple foreign jurisdictions, XN Financial offers a legal means through which Canadian producers can place foreign business and collect referral fees, and XN Financial is responsible for filing any associated foreign taxes and/or fees. The new ‘wind only’ facility will primarily target Canadian owned Florida homes built during the year 2000 and afterwards, availing homeowners of $1,000,000 (minimum) Coverage A (HO’3’s only), but could respond to select older homes which have undergone enhancements and renovations, or that exhibit superior construction. The XN Financial offering includes accommodating coverage options for other structures, personal property and loss of use, increased coverage for loss assessment (not subject to a deductible), automatic coverage for personal property replacement cost, $5,000 for loss assessment, and a limited fungi element, with a maximum available wet or dry rot or bacteria coverage of $50,000. XN Financial’s underwriting manager Barbara Owens will be responsible for the daily management of consumers business. With over 25 years of insurance experience primarily in Personal Lines, Barbara Owens is a designated Accredited Advisor of Insurance, as well as an Accredited Customer Service Representative, and currently holds an active Florida General Lines License. Barbara has over 10 years experience in managing the Florida cross border business for one of Canada’s largest brokers. Prior to joining XN Financial, Barbara was responsible for the underwriting and placement of new accounts for one of the U.S.’s largest brokers.