OIAA Claims 2003: Legislative Trade-Off
April 1, 2003 Vikki SpencerTwo new pieces of legislation are changing the landscape for Ontario’s insurers. Changes to the auto insurance system have been much discussed, but falling under the radar is the introduction of contingency fees for lawyers, potentially signaling a swing to…
Insurers step up to deal with New Brunswick storms
February 5, 2003 by Canadian UnderwriterFollowing harsh winter storms which struck New Brunswick and other Atlantic provinces earlier this week.According to the Insurance Bureau of Canada (IBC), as of Tuesday morning, 25,000 households in New Brunswick were still without power as a result of the…
Location! Location! Location!
February 1, 2003 AxiomIt was not hard to find the spanking new offices of Triple D Adjusters Ltd. They occupied the main floor of a new low-rise office building close to one of the city’s main expressway exits. My insurance company used Triple…
Unplugged: ASPs lighten IT burden
February 1, 2003 Chris Shannahan, vice president, Fair, Isaac and Co.Today insurers spend an average 4% to 8% of their annual budgets on technology – a relatively small investment compared to that of other industries. In the past year, with insurance companies being hard hit by unexpected terrorist-related claims, increasing reinsurance costs, and decreasing income from investments, beleaguered carriers are demanding more returns from their precious IT dollars. Many insurers are opting for the flexibility and agility offered by hosted ASPs (application service providers), a form of IT and application outsourcing.
Auto Product Reform: Effecting Change
January 1, 2003 Jacquelyn Stephens, executive director, Preferred Medical ProfesPending auto insurance product reform in Ontario presents new opportunities for insurers and their third-party vendors to collaborate in bringing the market back to a healthy state. However, change requires leadership, resolution and an enterprise-wide focus to be effective. We…
On The Move (January 01, 2003)
January 1, 2003 by Canadian UnderwriterH.L. (Skip) Sutherland is retiring as president of Crawford Adjusters Canada after almost 45 years in the insurance industry. He began his career with Zurich in 1957 and later helped form Adjusters Canada Inc., which was bought by Crawford in…
Views (January 01, 2003)
January 1, 2003 by Canadian UnderwriterOntario Insurance Adjusters’ Association president Brian Nauss (right) and past president Louise Rivett welcome guests to the annual OIAA Christmas Party, held at the Sheraton Centre, Toronto. The event brings together adjusters and their business partners to network, dine and…
Claims Management Strategies 2003: Competing Interests
January 1, 2003 Vikki SpencerWhat promised to be the “year of the rebound” in 2002 was anything but. Despite price hardening, claims have continued to grow, particularly with never-ending medical payouts on auto claims. And, this is just the tip of the iceberg facing…
Profile: Adjusters Preparing for Change
January 1, 2003 Vikki SpencerNo one would argue the insurance industry is one that stands still, particularly not in today’s market. For adjusters, the changes are keenly felt, impacting how they do their jobs on a daily basis. From mergers and acquisitions to changing…
News: Castek Inc.
December 1, 2002 by Canadian UnderwriterCastek Inc. has signed a letter of intent with Kingsway Financial Services to use its Internet-based ClaimsPath platform for its auto physical damage and property claims. “Our adjusters will be able to obtain multiple quotes from preferred vendors and track…
IBAO Convention 2002: Stressed Relations
December 1, 2002 Vikki SpencerAs insurers and brokers met at the recent Insurance Brokers Association of Ontario (IBAO) convention held in Hamilton, the mood was a far cry from the easy days of the soft market. Rising rates and “vanishing markets” have put a strain on broker/insurer relations. Added to this is the pressure of mobilizing the industry towards its Internet portal project. The mix is producing heated discussion about the industry’s future direction.
Making Connections at Saskatoon 2002
November 1, 2002 by Canadian UnderwriterThe RIMS Canada Conference recently brought together risk managers and their insurance partners in Saskatoon. Along with educational sessions and exhibits, there were also many opportunities for networking. From Saturday night parties hosted by Cunningham Lindsey and Crawford Adjusters to…