Industry predicts e-commerce to triple
May 1, 2000 by Canadian UnderwriterA broad company survey released by consultants Towers Perrin suggests that the vast majority of the 300 respondents believe e-commerce will triple in revenue terms over the next two years. The survey respondents were drawn primarily from the U.S., Canada,…
Auto Repair Perspective: Work For, Not Against
May 1, 2000 John Norris, executive director of the Hamilton District AutobodThe world of repair shops and front-line collision damage appraisers is very different to that of the corporate insurance industry. A closer understanding of the challenges faced by both sides is clearly needed. In fact, with both bodyshops and insurers…
Slow and steady wins the race
May 1, 2000 Paul Kovacs, Senior vice president at the Insurance Bureau of CaIn April, the Canadian government stopped underwriting domestic credit insurance. This is a welcome response to our ongoing industry lobby. This breakthrough shows that a persistent and sustained effort is the key to eventually convince governments to also exit other insurance businesses across Canada.
IBAO AGM AND MID-YEAR CONFERENCE: Pulling Together
May 1, 2000 Sean van Zyl, EditorThis year’s Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference, which was recently held in Ottawa, drew focus on the need for the brokerage community to unite in the face of rapid consolition and the technological…
Independent Brokers: Networking Technology a Powerful Tool
May 1, 2000 Brian Thompson, president of SurNet Insurance GroupIf you are a small independent insurance broker doing business in today’s market, you are no doubt feeling uncertain about your future. With the advancement of direct writers and the broker network consolidators, who could blame you. However, for those in the brokerage community willing to embrace technology advantages, the future can be a bright one.
Defining Ontario’s Insurance Regulation
May 1, 2000 Vikki SpencerWith the creation of the Financial Services Commission of Ontario (FSCO) in 1998, the province took on the task of reconciling the interests of consumers with a patchwork quilt of industries governed by almost a dozen different set of rules.…
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…
THE AIR OUT OF THE BAG
May 1, 2000 Vikki SpencerAirbags recovered from written-off vehicles will be used for collision repairs in British Columbia, likely before the end of the year, says a researcher at the province’s public insurance organization. The decision follows testing on salvaged airbags conducted by the…
U.S. data threatens long-term growth
May 1, 2000 by Canadian UnderwriterImbalances in growth rates for property/casualty insurance premiums, losses and expenses could lead to a record downturn, says Frank J. Coyne, president and chief operating officer of Insurance Services Office Inc. (ISO). Forecasts based on third-quarter 1999 growth rates show…
Digital sharpens adjusters’ focus
March 1, 2000 Lorne Montgomery, Crawford Adjusters CanadaEmerging technologies are having a great impact upon the insurance industry, in particular the adjusting field. One innovation that is leaving its mark on adjusting in particular is digital photography. Incorporating photos into insurance reports is critical to developing comprehensive…
Brokerlink finds white knight in Allianz
March 1, 2000 by Canadian UnderwriterT he battle being waged for control of Calgary-based broker consolidator Canada Brokerlink took a dramatic turn toward the end of last month when Allianz Canada stepped to the table with a superior counter offer worth around $42 million. The…
After “HORSING” around, MOTIVATION is the name of the game
March 1, 2000 AxiomIpositioned myself near the entrance to the dining lounge and watched as the escalator in front of me deposited a steady stream of well-dressed couples to the upper level. I had arrived at the suburban racetrack early, to be on…