Shining Light on the “Auto Claims Economy”
September 1, 2003 Vikki SpencerWith auto insurance losses over the past two years having left many insurers in the “dark” in terms of how to deal with the costing of the product, there was a certain irony behind a recently held conference which focused on relationships between the various vendors and manufacturers involved in the auto claims chain – for in the midst of the event, the “blackout of 2003” struck. However, despite the adversity of the power outage, the conference’s participants were upbeat regarding a “new light” of cooperation between the various players toward achieving cost efficiency.
Views (September 01, 2003)
September 1, 2003 by Canadian UnderwriterEach Thursday this summer, members of the insurance industry participated in the Great Ontario Salmon Derby, hosted by Blakeney Henneberry Murphy. Launching from Port Credit, the motley crews vied for the biggest catch, with AIG leading as of mid-August. Leading…
Views (August 01, 2003)
August 1, 2003 by Canadian UnderwriterDRI International now offers certification as a business continuity planner (CBCP) through its website, www.drii.org. The not-for-profit training enterprise offers the online courses globally. *************** Collision repair chain CARSTAR Automotive Canada has been named one of Canada’s top 100 fastest…
On The Move (April 01, 2003)
April 1, 2003 by Canadian UnderwriterE-L Financial chair and president Henry N.R. Jackman is stepping down, to be replaced by his son, Duncan. Among his roles is as chair of the board of Dominion of Canada General Insurance Co. The Insurance Bureau of Canada’s new…
Aiming for claims control
July 1, 2002 Vikki SpencerAs insurers, auto manufacturers and other claims supply chain representatives met for the annual AIM Forum in Toronto recently, cost control and injury reduction took the front seat. From the aftermarket parts debate to personal injury claims inflation, speakers noted that insurers and auto makers must find ways to protect against fraud and keep drivers safer, while still keeping a lid on expenses.
Caught in a Crunch – Auto Insurers Face Litigation Nightmare
May 1, 2002 Vicki SpencerAuto insurers may have been caught asleep at the wheel, in light of the recent decision in McNaughton versus The Co-operators. The Supreme Court of Canada refused the insurer leave to appeal a decision which could see deductibles returned to thousands of drivers who have written off their vehicles. In the wake of the decision, and as insurers await potential certification of the case as a class action, industry-wide reaction is still being measured. But no clear answers are in sight — insurers and the legal public note that the case is raising as many questions as answers, with a potential pile-up of claims waiting to be addressed.
Leveling Construction Theft
May 1, 2002 Rosie Lucifero, senior manager of marketing and communications aFinancial loss due to theft of equipment in the construction field has reached epidemic proportions. The Toronto Construction Association estimates that thieves currently walk or drive off Ontario construction sites with over $12 million worth of equipment each year, with the countrywide theft tally amounting to more than $32 million annually. Can insurers and their construction clients limit their exposures?
Coming Events (April 01, 2002)
April 1, 2002 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. Institute for Catastrophic Loss…
McNaughton v. Co-operators could spawn class action landslide
March 8, 2002 by Canadian UnderwriterThe victory of one policyholder in a case involving auto insurance deductibles could give rise to large numbers of Canadians seeking similar action against insurers. A Supreme Court of Canada ruling yesterday denies Co-operators General the right to appeal a…
On The Move (February 01, 2002)
February 1, 2002 by Canadian UnderwriterWith the departure of American Re CEO Edward J. Noonan, John Phelan (pictured) is set to take over the top spot at Munich Re’s U.S. subsidiary, effective March 31. Phelan has been with Munich Re of Canada (MROC) for almost…
Claims to Lead Technology Surge
January 1, 2002 Dale Hardy, president of Correlation Technologies Inc.“Hub power” is likely going to be the next big technology push in the North American property and casualty insurance industry, with the claims handling arena at the forefront of this advancement. Are you ready?
IBC and policy group at odds on B.C. insurance future
October 11, 2001 by Canadian UnderwriterA new study released by the Canadian Center for Policy Alternatives (CCPA) suggests privatizing British Columbia’s auto insurance system will be bad for consumers. “Allowing private firms to compete with ICBC in the provision of basic auto insurance will almost…