The U.S. Marketplace Post September 11
March 1, 2002 Sean van Zyl, EditorSpeakers at this year’s Joint Industry Forum — which recently took place in New York City — were bullish of the financial prospects of the North American property and casualty insurance industry in the post September 11 era. However, they,…
Profitability “first line of defence”, says regulator
February 13, 2002 by Canadian UnderwriterProfitability is the “first line of defence” for insurers facing rough financial times, says the country’s top regulator. In a speech to the Empire Club, superintendent Nick Le Pan of the Office of the Superintendent of Financial Institutions notes that…
Large brokers produce mixed results
February 12, 2002 by Canadian UnderwriterThe world’s largest insurance brokers have each produced very different yearend results in the wake of September 11 and a hardening insurance market.Giant Marsh & McLennan held the line, with revenues of US$2.5 billion in the fourth quarter, equal to…
Don’t pop the champagne cork just yet
February 1, 2002 Sean van Zyl, EditorAlthough the 2001 yearend results for both the Canadian and U.S. property and casualty insurance industries are expected to reflect one of the worst financial years on record, there is an excited buzz among the ranks of company CEOs that…
Working to Be Smart
February 1, 2002 John Kelly, a law professor at Seneca College & consultant to AlInsurance professionals tend to be well versed with the mechanics of information technology (IT), but lacking on strategic, legal, e-business applications. Much of their exposure to computer hardware and software comes from vendor and technology consultants who are long on technical expertise but short on how to add value in providing insurance services to clients. Consequently, insurance professionals who buy IT may become victims of “bells-and-whistles” sales pitches.
Winning in An Online World
February 1, 2002 Glen Piller, president of iter8 Inc.All to often insurers are presented e-business strategies that appear to be conceived, developed and implemented in a straightforward manner. This view makes getting online look easy, but let us face it: things have not quite worked out that way.
U.S. commercial market reveals hardening and confusion
January 29, 2002 by Canadian Underwriter“Major commercial property/casualty premiums uniformly on the upswing and confusion in the market” is how the U.S. Council of Insurance Agents and Brokers (CIAB) is characterizing the post-September 11 environment. In releasing fourth quarter 2001 results of its Commercial Insurance…
RIBO celebrates 20 years
January 1, 2002 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) annual general meeting, held recently in Toronto, marked the 20th anniversary of the province’s self-regulatory body for property and casualty insurance brokers. Over the past year, RIBO faced new challenges through changes in…
The Problem of Partners…
January 1, 2002 AxiomFred Wilson and I leaned into our brushes, sweeping hard in front of the stone as it slowly slid into the 16-foot circle, crept past the 8-foot before finally coming to rest inside the 4-foot ring. A winning shot. We…
Collision Repair Following Global Leadership
January 1, 2002 Vikki SpencerAs insurance rates begin climbing upwards, pressure is also increasing to reduce claims costs, particularly in auto insurance. And, while costs associated with collision repair are an obvious target, the size of this segment of the market has been declining over recent years in both revenue and the number of repair shops, delegates at the annual CARSTAR Industry Conference heard. Speakers also highlighted new challenges facing bodyshops through technology and growing customer demands.
Claims to Lead Technology Surge
January 1, 2002 Dale Hardy, president of Correlation Technologies Inc.“Hub power” is likely going to be the next big technology push in the North American property and casualty insurance industry, with the claims handling arena at the forefront of this advancement. Are you ready?
National financial services ombudsman launched
January 1, 2002 by Canadian UnderwriterAll major sector players operating in the Canadian financial services environment — from banks, life insurers, property and casualty insurers, health insurers, investment dealers and mutual funds — have co-founded a new national consumer ombudsman office. The National Financial Services…