Feature

Software standardizes claim costs

January 1, 2000 Michael Andrews

Each year U.S. insureds are involved in about 35 million automobile accidents. The cost to repair these vehicles tops an eye-popping nine billion dollars — more than the combined 1998 net incomes of Microsoft, Sears and Disney. Not surprisingly, automobile…

Feature

News (January 01, 2000)

January 1, 2000 by Canadian Underwriter

Tristan Barter, son of Lloyd and Karen Barter of Ron Armstrong Insurance Broker, in Crysler, Ontario, is the recipient of the 1999 Cunningham Lindsey Colin MacKay Memorial Scholarship Award. This annual scholarship is available to students enrolled in first-year studies…

Feature

CIBC cuts back on insurance

January 1, 2000 by Canadian Underwriter

In a move towards cutting $500 million out of its operating expenses, CIBC recently announced it was cutting 4200 jobs, roughly 10% of its entire workforce. While the bank will not release figures on the jobs being cut — maintaining…

Feature

GETTING TO GRIPS WITH CLAIMCOSTS

January 1, 2000 Sean van Zyl, Editor

With little room to maneuver on premium growth and enhancing investment returns, property and casualty insurers are likely to turn their attention in the year ahead to better risk selection and improved claims handling efficiency to boost bottom-line performance, industry…

Feature

Commercial Risk Under JIT

January 1, 2000 by Canadian Underwriter

The “just-in-time” (JIT) efficiency supply process has over recent years become more than just a popular fad among manufacturers, it has become an engraved business philosophy having produced significant operating savings to companies. However, when evaluating commercial coverages, insurers need to carefully weigh up all the risk factors associated with JIT.

Feature

The Trials of Industry Mergers Acquisitions

January 1, 2000 David Carr

1998 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?

Feature

Alternative Dispute Resolution: “Virtual Settlement” online

January 1, 2000 Gary Winston, Director and General Manager of Canadian Operation

Pressed 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.

Feature

The Distribution Challenge Of 2000

January 1, 2000 Sean van Zyl, Editor

The North American Insurance Conference, recently held in St. Petersburg Beach, Florida, drew an equal crowd of Canadian and U.S. insurance attendees, the event speakers covering a broad range of subjects from reinsurance market conditions through to the impact of…

Feature

Learning From the Masters

January 1, 2000 Lowell Conn

The independent adjuster faces an array of challenges in the year ahead, concedes new Ontario Insurance Adjusters Association (OIAA) president Christina Welton. Greater regulatory scrutiny on licensing, a pending court case that could introduce more liability for claims professionals, and…

Feature

The Edge of Claims Handling

January 1, 2000 Axiom

As the company’s senior marketing representative, this occasion was a command performance for me. My company was unveiling its new and improved 24-hour claims service, which included a fleet of modern cell phone, fax and computer-equipped cars to take our…

Feature

Investments plague Canadian and U.S. insurers

January 1, 2000 by Canadian Underwriter

The 1999 third quarter returns for both Canadian and U.S. property and casualty insurers show little improvement in net earnings, with the return on investment of both sectors now hovering at around the 7% mark. The real problem child surfacing…

Feature

Halifax presents new broker models

January 1, 2000 by Canadian Underwriter

Responding to a market survey of insurance brokers across Canada, ING Halifax is offering brokers three different partnership models in the coming years, Don Lough, ING Halifax president, told lunch guests at a recent Metropolitan Toronto Insurance Brokers meeting. ING…