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
Auto claim costs PILE UP
June 1, 2001 Vikki SpencerAs controversy over aftermarket parts use continues to swirl in the wake of the State Farm verdict, insurers, auto manufacturers, and those in the collision repair industry are looking at how to make driving safer and reduce accident costs. With auto insurers facing dismal results across the country, and in Ontario in particular, the need to tackle these costs is clear. But the role aftermarket parts, recycled parts, theft deterrents, and vehicle design will play in this attempt to bring profitability back to the auto insurance market was very much up for discussion at the recent Auto Insurers and Manufacturers (AIM) forum held in Mississauga.
Collision Repair: SERVICE DETERMINES PROFITABILITY
May 1, 2001 Sean van Zyl, EditorSpeakers of an insurer/collision discussion panel hosted by the industry’s international education body I-Car at its recent Canadian national conference were provided with the stark theme of dealing with “reality”. On a particularly “realistic note” was the thick tension in…
Coming Events (April 01, 2001)
April 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. RIMS Annual Conference. Atlanta,…
Coming Events (March 01, 2001)
March 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. Women in Insurance Cancer…
On The Move (March 01, 2001)
March 1, 2001 by Canadian UnderwriterThe St. Paul’s company has appointed Bob Fellows president and general manager of St. Paul Canada. Fellows brings 20 years industry experience to the position, most recently leading Royal & SunAlliance’s Financial Solutions venture. Lloyd’s of London has named Nicholas…
A NEW ORDER VALUE OR LOST OPPORTUNITY?
March 1, 2001 Sean van Zyl, EditorComing years will see increased attention being brought to bear on the service performance of the claims management side of the insurance business, delegates who attended the recently held Canadian Insurance Claims Managers Association and Canadian Independent Adjusters Association joint…
Natural Catastrophes: An Increasing Trend?
December 1, 2000 Donald Keefe, manager of engineering property and special risksLast year was one of the worst years in the 1990s for natural catastrophes worldwide. There were two major earthquakes in Turkey and one in Taiwan, Columbia, Mexico and Greece, making 1999 the year most severely affected by earthquakes since 1976. The earthquakes in Turkey and Taiwan claimed the lives of over 20,000 people and resulted in economic losses of approximately US$ 26 billion.
GOING FOR THE NICHE APPLE
September 1, 2000 Mike Wills, leader of Royal & SunAlliance's Specialty SolutionsGlobalisation has created an expanded market in Canada for specialty niche lines of business. Products such as alternative risk financing or equipment maintenance management which have historically been unavailable in Canada either because the market was too small to support such activity, or large insurers were reluctant to break new ground, are now washing up on Canadian shores.
Following the right track
June 1, 2000 Vikki SpencerAuto manufacturers and property and casualty insurers recently joined forces at the AIM 2000 Conference held in Mississauga to combat cost-pressures and identify means of better serving their customers. Highlighting the agenda were the use of research, design and rating…
Multi-Distribution: Switching channels
June 1, 2000 Vikki SpencerRecent management consultant surveys of the North American property and casualty insurance industry have highlighted distribution as the number-one future concern facing insurer CEOs. The reports all weigh strongly in favor of integrated multi-distribution approaches with the Internet playing central…
Aftermarket Auto Parts: Shifting Gears
May 1, 2000 David CarrLegal action against insurance companies in the U.S. for alleged unauthorized use of aftermarket parts in vehicle repair have bubbled up into Canada. Within months of a successful $1.2 billion class action in Illinois against State Farm Insurance, similar suits…