Getting Back to Basics
January 1, 2002 by Canadian UnderwriterIn the continually evolving world of claims, adjusters are dealing with new pressures daily. The demands of loss cost reduction, increasing customer expectations, changing regulations and technology may, however, cause a return to the foundations of good adjusting. For incoming Ontario Insurance Adjusters Association (OIAA) president Louise Rivett, the keys to adjusting in the new world are simple – good customer relationships and strong knowledge and skill base. With mergers and acquisitions shrinking the marketplace, the pressure is increasing on adjusters to have the right skills and latest knowledge.
Claims Management Strategies 2002: A Delicate Balance
January 1, 2002 Vikki SpencerThe insurance industry is at a crossroads, with rates rising, but continuing to be outpaced by claims costs. Technology is a relentless force, offering promise, but also upping the ante on customer service expectations. A survey of top insurer claims staff shows that today’s adjusters walk a fine line between the increasing demands of the customer and the need to reduce costs, between technology’s potential and its potential downfalls. CU asks the experts what new forces threaten this delicate balance moving forward.
Fin institutions launch national consumer ombudsman service
December 20, 2001 by Canadian UnderwriterAll of the 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…
2002 Primary Market Outlook Angst
December 1, 2001 Sean van Zyl, EditorWith the Canadian property and casualty insurance industry likely to end this year with a return on equity of less than 2% — the lowest level on record — and as claim costs continue to outstrip premium growth, insurer CEOs…
White Mountains latest to form new reinsurance operation
November 2, 2001 by Canadian UnderwriterNew Hampshire-based White Mountains is the latest insurer to announce that it will capitalize on the hardening market by setting up a reinsurance operation. The company plans to establish a Bermuda-based reinsurance arm to target the property and casualty market,…
Chlordane: a Gnawing Concern
November 1, 2001 William Blakeney of Blakeney Henneberry Baksh & MurphyFrom a risk management perspective, Chlordane is possibly the most pervasive environmental problem ever heard of. Yet, it is one that, like termite infestation which the chemical was created to combat, may well prove to be a festering “legal plague” for Canadian insurers.
Keeping Sense
November 1, 2001 Sean van Zyl, EditorIn the aftermath of September 11 a great deal of attention turned to public security, specifically airport and airliner boarding procedures. It has become apparent that airport security measures among many of the major U.S. airports had been hopelessly inadequate…
Mexico, Untapped Opportunities for Brokers
November 1, 2001 Peter Bassel, Toronto branch manager of Loyalist Insurance BrokeFor Canadian brokers, the prospects of developing their existing client relationships by maximizing on the dramatic growth in Canadian business and tourism to and within Mexico is immense. The trick lies in not being overwhelmed by the prospect of dealing with foreign business practices.
Bidding War for Human Capital
November 1, 2001 Declan French, CEO of Thinkpath Inc.The shortage of skilled workers in the technology sector is something that often dominates the headlines these days. It is staggering to think that even with the recent meltdown in the technology industry, there still remains a critical need to…
Industry poised for success in 2002, says S&P
October 30, 2001 by Canadian UnderwriterA new report from rating agency Standard & Poor’s (S&P) says the industry is headed for a comeback in 2002, with 2003 set to be a highly profitable year for insurers.Despite heavy losses following the September 11 terrorist attacks, the…
Atlantic insurers back new treatment for domestic oil tanks
October 26, 2001 by Canadian UnderwriterFaced with escalating losses arising from toxic spills associated with domestic oil tanks in the Atlantic provinces, insurers have backed a new treatment process that is expected to significantly reduce corrosion and the potential of leaks.Insurers operating in Atlantic Canada…
S&P joins call for government-backed terrorism pool
October 24, 2001 by Canadian UnderwriterRating agency Standard & Poor’s has joined the voices of insurance industry bodies calling for the creation of a federal government-backed reinsurance pool for terrorism covers.In the aftermath of the September 11 terrorist attacks, several insurer associations and regulation bodies…