Geer exits top spot at ICBC
May 16, 2004 by Canadian UnderwriterThe Insurance Corp. of B.C. (ICBC) says its CEO Nick Geer is leaving at the end of next month, but no successor has been named.Geer took over top spot at the government insurer three years ago – originally serving as…
FSCO lays charges against two former Pilot execs
May 12, 2004 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) confirms that charges have been laid against two former executives of Pilot Insurance Co. for allegedly providing the regulator with false information. Former Pilot CEO Stuart Kistruck and CFO Colin Simpson face two…
ICBC to reward safe driving communities
May 5, 2004 by Canadian UnderwriterThe Insurance Corp. of B.C. is aiming to reduce auto accidents this month, issuing a challenge to communities. Between May 5 and 27, communities in various size categories which show the greatest reduction in car crashes can receive grants between…
ICBC uncovers $23,000 fraud
May 2, 2004 by Canadian UnderwriterA Maple Ridge, B.C. man has pleaded guilty to fraudulently accepting payment of $23,414 from the Insurance Corp. of B.C.In May, 2003, Daniel Wiens claimed the amount following a single-vehicle crash he said occurred on May 16, resulting in a…
Piecing Together Parts
May 1, 2004 Craig HarrisThin profit margins have prompted insurers to closely examine claims cost reduction strategies. While bodily injury and healthcare have received the lion’s share of attention in auto insurance, the vehicle damage side of the equation is experiencing challenges of its own. Insurers are trying to find ways to reduce cycle turnaround time, improve supply chain management and save money through aftermarket and recycled parts. The issue for insurers is how to trim costs while ensuring parts quality and vehicle safety.
Customer Service Versus Cost
May 1, 2004 Vikki SpencerIn an environment of high consumer expectations, mutual insurers looked to vendors to offer lessons in managing customer relationships at the Canadian Association of Mutual Insurance Companies (CAMIC) mid-year meeting which was recently held in Toronto. Speakers focused on meeting the customer service challenge while maintaining control of claims expenses and underwriting through enhanced information.
Views (April 01, 2004)
April 1, 2004 by Canadian UnderwriterB + L Consultants and Vigil Technology Locating Systems Inc. have signed a national promotional services agreement. The three-year deal will see B + L promoting the Vigil GPS system nationally to 900 car dealers, with an annual target of…
Sedans luring thieves: Crime Bureau
March 1, 2004 by Canadian UnderwriterThieves are targeting sedans, including older model vehicles, for parts, says a new report by the U.S. National Insurance Crime Bureau (NICB).The non-profit organization, which was established to fight vehicle theft and insurance fraud, looked at the most stolen vehicles…
U.S. insurers lash out on credit scoring report
February 24, 2004 by Canadian UnderwriterU.S. insurers are fighting back in the credit scoring debate, releasing their own analysis to criticize a recent report by the Missouri Department of Insurance (MDOI). The MDOI study found that low income and minority groups were negatively impacted by…
Chubb program aimed at increasingly dangerous world
February 23, 2004 by Canadian UnderwriterA new homeowner’s policy from Chubb Insurance Co. of Canada may be a sign of increasingly dangerous times, covering rising crimes including child abduction, home invasion, car jacking and stalking.In launching the program, Chubb cites Statistics Canada data suggesting 30%…
Internet Data Exchange: Crossing the Lines
February 1, 2004 Lee SlackFor many years, brokers have sought technology that could seamlessly integrate sales-side systems with financial service carrier back-offices. This “holy grail” of broker technology is not merely a distant dream – it is available today.
New car owners lack insurance knowledge
January 15, 2004 by Canadian UnderwriterNew car owners know far more about the vehicle they are purchasing than they do about the insurance they buy to cover it, says a study by U.S. insurer Progressive.The survey of new car buyers should that while 98% could…