What’s New: In Brief (March 07, 2007)

ING Insurance Company of Canada is continuing to support the Broker Identity Program [BIP] as a full partner, the Insurance Brokers Association of Canada [IBAC] announced in a press release.
IBAC launched the BIP program in 1989. More than 20 insurance companies in 2006 supported the branding campaign, designed to symbolize the value the countrys 30,000-plus insurance brokers bring to their clients.
The centrepiece of the program is the BIP symbol known as the BIPPER. The BIPPER symbolizes the value that insurance brokers bring their clients coverage and security.
We continue to recognize the invaluable branding the Broker Identity Program brings the insurance broker profession, said Derek Iles, president of ING Insurance, in a press release. The protective embrace exhibited by the BIPPER is a symbol to legislators and regulators that the broker distribution channel is one that provides un-challengeable value to consumers of insurance in virtually every community across this country.
Our continued support will only help grow awareness of this value, and of this common message the profession is so successful at communicating.
IBAC CEO Dan Danyluk welcomed the support of ING Canada. Brokers should appreciate the continued confirmation that even the biggest players in the industry recognize the strength and importance of even the smallest of brokerages in this country. The program is a testament that we manage collectively to be more effective than individually when issues affecting our profession are at play.

Swiss Re’s U.S. commercial insurance division has launched excess layer coverage for law firms, complementing its first-layer product, which has been available for more than 30 years.
“This expansion underscores Swiss Re’s commitment to protecting the reputations and assets of law firms,” said Michael Furlong, the leader of lawyers professional liability at Swiss Re’s commercial insurance division. With the launch of our lawyers excess product, we look forward to growing with our clients and brokers.”
Brokers will benefit from the ease of implementation of Swiss Re lawyers excess product, the company announced in a press release. It is designed to follow the form of the underlying policy, features a broad range of attachment points and is available in all 50 U.S. states.
Policies are written on non-admitted paper from First Specialty Insurance Corporation and are backed by Swiss Re.