Crawford acquires Edmonton-based adjuster
August 10, 2001 by Canadian UnderwriterClaims management group Crawford Adjusters Canada has acquired Edmonton-based Leonard, Hirst & Miller Adjusters (LH&M) for an undisclosed amount. The firm boosts Crawford’s position in Alberta to nine offices and over 100 employees. LH&M is described as a multi-line adjusting…
OSC/FSCO Merger: Significant Change for Ontario Insurers
August 1, 2001 Brian Reeve, partner at Cassels Brock & Blackwell LLPThe proposed merger of FSCO and the OSC holds significant implications for Ontario’s insurers, with perhaps the greatest ramification being the “rule-making” authority that the new regulatory body will hold over the financial services industries. It is therefore critical that insurers make themselves familiar with the proposed merger legislation before it is inacted.
“Scan”-ing for Fraudulent Claims
August 1, 2001 Ken Smith, special investigations officer at The Citadel AssuranThe primary responsibility of any insurance professional is to provide the best possible service to policyholders. That means not only offering solid advice and guidance in the area of loss prevention, and approving and paying claims as quickly as possible when legitimate losses occur, but also identifying and denying fraudulent claims.
Claims Management: The Need for Data Integrity
August 1, 2001 Ed Doyle, Managing Director of Gallagher Bassett Canada Inc. andWith risk managers scrambling to find alternative risk financing, the importance of accurate claims data has come under the spotlight. In today’s hard market, risk managers are increasingly taking a closer look at their insurance costs and considering alternative risk transfer (ART) solutions. But, in order to make an accurate assessment, they need precise and timely claims data.
Coming Events (August 01, 2001)
August 1, 2001 by Canadian UnderwriterAnnouncements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Canadian Risk & Insurance…
Auto Insurers, Watch Out for That “Strike Suit”
August 1, 2001 William Blakeney, of Blakeney Henneberry BakshThe outcome of a class action lawsuit filed in Ontario against the Co-operators General Insurance Co. in an attempt to reclaim amounts the insurer allegedly gained from salvage following a total loss write-off of a vehicle and deductible charged to the insured, could herald a new attack of “strike suits” against auto insurers
RIBO calls for insurance recognition
August 1, 2001 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) has called on the Ontario government’s Ministry of Finance for recognition of the unique differences that exist between property and casualty insurance products and their distribution modes compared with the life, deposit-taking and…
New insurance marketplace helps computers “talk”
July 25, 2001 by Canadian UnderwriterA new Internet insurance marketplace is up and running, created by Riskebiz Internet Services Inc. The new site will provide links to web related services for insurers, brokers, adjusters and other insurance professionals. The new site uses UDDI, a set…
RIBO calls for separate recognition of insurance products
July 13, 2001 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) has called on the Ontario government’s Ministry of Finance for recognition of the unique differences that exist between property and casualty insurance products and their distribution modes compared with the life, deposit-taking and…
Crawford to handle Pondimin settlement
July 9, 2001 by Canadian UnderwriterCrawford Adjusters Canada has been appointed to administer the class action settlement arising from the use of diet drug Pondimin, the company has announced in a press release. An Ontario Superior Court Justice has approved the appointment, and the process…
Raising th Bottom-Line through subrogation efficiency
July 1, 2001 Michael Baumel, head of global subrogation at GE ERCThe area of subrogation is a necessary part of the claims process, one which is often overlooked or under-utilized by the primary insurer. A poor or effective claims management approach to subrogation can mean the difference of millions of dollars to the bottom-line. Faced with the current business climate, can insurers afford financial spillage?
Flying High Against Diversity
July 1, 2001 Vikki SpencerIn a time when insurers are cutting costs, including those associated with claims handling, it is difficult to say any adjuster is “flying high”. But Keith Edwards is one exception. Not only will he take over as president of the Canadian Independent Adjusters Association (CIAA) this year, but the licensed pilot also has high hopes for his profession. Edwards says this time of “belt tightening” is an opportunity for independents to prove their efficiency and expertise.