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Jokers Wild

February 1, 1999 Sean van Zyl, Editor

Just over half a year has elapsed since the burial of Synchron. Since then, little appears to have been achieved in finding a replacement solution to the industry’s drive for a single interactive technology interface solution. Add to which, recent…

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ING strengthens B.C. position

February 1, 1999 by Canadian Underwriter

ING Canada, through its Calgary-based subsidiary Western Union Insurance, has entered into a strategic alliance with B.C.-based BCAA. Under the agreement, ING will purchase BCAA’s subsidiary, BCAA Insurance Corporation, for undisclosed terms. BCAA will continue to sell home and auto…

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Hub/Co-operators on partnership bandwagon

February 1, 1999 by Canadian Underwriter

Co-operators General Insurance Company is the latest insurer to take an ownership position in a broker network, trading its equity holdings in Ontario-based Barton Insurance Brokers to the Hub Group in exchange for an approximate 10% stake of the latter’s…

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AXA forms Quebec bank alliance

February 1, 1999 by Canadian Underwriter

In response to the opening up of Quebec’s insurance market to the Caisse Populaire Desjardins through the controversial Bill 188 which was passed by the province last summer, AXA Insurance has entered into a marketing partnership with National Bank to…

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Paying the Dues of Diligence

January 1, 1999 Lowell Conn

KPMG’s 7th annual Insurance Issues Conference, held in November at Toronto’s Four Seasons Hotel, focused on the effectsof industry consolidation on medium and small-sized insurance players.

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U.S. cat losses continue

January 1, 1999 by Canadian Underwriter

Catastrophe losses continued to dampen U.S. property and casualty underwriters’ results for the third quarter of 1998, according to A.M. Best Company. The industry’s net income for the period fell 15% from the previous year’s level, due to higher underwriting…

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A fair shake?

January 1, 1999 Don Turner, an Adjusting Consultant

I am often asked what my profession is. Instead of saying, “insurance adjuster” I often respond “an arson investigator”. I choose the latter for simplicity and to avoid a volley of complaints from the public over perceived injustices in the settlement of claims.

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Sober Y2K predictions

January 1, 1999 by Canadian Underwriter

The recently held Employers Reinsurance Corporation seminar on Y2K risks delivered some serious food for thought. The most startling of the information revealed was delivered by the first three speakers who provided a broad outline of the technology disruption likely…

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CSIO SHAKEUP

January 1, 1999 by Canadian Underwriter

Last month Howard Moran, in his capacity as board chairman of the Centre for Study of Insurance Operations (CSIO), announced the resignation of Len Ashby as the organization’s president. Although an outspoken critic of the political dabbling of both companies…

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ALERT Fraud 2000

January 1, 1999 by Canadian Underwriter

By Stephen Markson, a director of Forensic Systems Group and Craig Malcolm, managing partner of Forensic Accounting & Investigative Services Regardless of whether the new millennium starts on January 1, 2000 or 2001, its advent will provide abundant opportunities for…

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Queensway consolidates Alliance

January 1, 1999 by Canadian Underwriter

Queensway Financial Holdings Ltd. (QFH) has entered into an agreement to acquire Alliance Insurance Group, a property and casualty insurance holding company located in Chicago, Illinois. Alliance, posting gross premiums written totalling $17 million in 1997, specializes through subsidiaries in…

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Insurance fraud: The Insider Job

January 1, 1999 Linden Rees, president of Underwriters Fraud Control Inc.

Last November I provided a presentation in Boston, Mass. on “Automated Fraud Control” to an audience of senior American insurance executives. While all nodded in agreement with my salient points, that being internal fraud within the insurance industry is on the rise and needs to be addressed sooner than later, I was left with the feeling that most of the listeners were too aghast at the thought that their employees might be capable of stealing.