A RISKY PROPOSITION
February 1, 2000 Ron Lepofksy, president, PTI TelecommunicationsGoing online means exposing your company to an array of security risks and hazards. These security risks are typically examined in a piecemeal fashion, but technology is emerging to examine this risk on an enterprise level. One thing is for sure, it’s time to assess your risk, and carry through with plans to mitigate it.
Up In Smoke
February 1, 2000 Sean van Zyl, EditorThe fact that one of Hollywood’s recent creations “The Insider”, which is based on behind-the-scenes dirty tricks employed by opposing parties in the U.S. anti-tobacco wars, achieved such box office success clearly indicates rising public interest in tarring cigarette manufacturers…
The three sided E-COIN
February 1, 2000 Sean Laughlin, business development manager, E-Business SolutionBuy-side, inside, and sell-side technology strategies are three systems today’s insurers are utilizing to create and maintain their competitive advantage.
ReplacementFinder joins the e-business fold
February 1, 2000 Kathryn SchroederFinding replacements for insured damaged products, at competitive prices, is a constant challenge to the insurance industry. The costs can have a severe affect on company bottom lines. “If adjusters had the ability to comparison shop among competing suppliers in…
STANDARDIZING CARRIER RISK
February 1, 2000 by Canadian UnderwriterProperty and casualty insurance companies — by the nature of their business — face many risks. When does a particular exposure become grave enough to pose a material risk and a threat to a company’s solvency? At the recently held 8th Annual KPMG Insurance Issues Conference, in Toronto, KPMG’s Wendy Mills and Tracy Capstick examined emerging standards for p&c insurers.
DEVELOPMENT OF THE STANDARDS
February 1, 2000 by Canadian UnderwriterOn the invitation of the Office of the Superintendent of Financial Institutions, the Insurance Bureau of Canada (IBC) formed a working group in 1998 to prepare a set of draft standards of sound business and financial practices for property and…
BIP Branding: The Pendulum SWINGS
February 1, 2000 Mabel Sansom, executive director Insurance Brokers Association oOn February, 28, the Insurance Brokers Association of Canada will launch its new television campaign, running until June 11, on network and specialty television. The campaign will be supported by a strong print campaign explaining the benefits of dealing within the independent broker channel. The campaign is intended to do one thing — brand the BIP logo in the consumer minds and direct them towards unbiased, professional advice when purchasing property & casualty insurance.
On The Move (February 01, 2000)
February 1, 2000 by Canadian UnderwriterQueensway Financial Holdings Limited has announced the appointment of Glenn Gibson as chief financial officer of Queensway replacing Cathy Wilson. Gibson brings more than 17 years of financial management to his new role. Chubb & Son vice president John Owens,…
Turn the Headlights On
February 1, 2000 Sean van Zyl, EditorArecently held KPMG seminar on e-commerce application opened with a quote from Bill Gates: “Business is going to change more in the next ten years than it has in the last fifty…If the 1980s were about quality and the 1990s…
The Face of REGULATION
February 1, 2000 David CarrTechnology, globalization, deregulation, consolidation and demutualization. These are the forces of change shifting the ground beneath the world’s financial services industry. Such change is drawing into question the effectiveness of regulators such as Canada’s Office of the Superintendent of Financial Institutions (OSFI) to remain relevant to its role, particularly in light of the new non-traditional players such as technology companies in financial services.
The Trials of Industry Mergers Acquisitions
January 1, 2000 David Carr1998 proved to be a record year for mergers and acquisitions (M&As) in the insurance industry, with total transactions exceeding US$150 billion. But the pace of insurance M&As sputtered in the second half of 1998, failing to pick up any real momentum in 1999. What lies ahead for 2000?
Alternative Dispute Resolution: “Virtual Settlement” online
January 1, 2000 Gary Winston, Director and General Manager of Canadian OperationPressed with rising claim costs and cutthroat pricing, insurers are having to look for cost-effective ways to reduce operating costs. Technology is expected to play a significant role in this respect in coming years, however an area offering enormous short-term scope is electronic settlement of casualty losses. Virtual settlement has finally come to Canada.