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.
Online Innovation Playing Catchup
February 1, 2002 Andree Ryckman, certified management consultant, Call Centre ConThe story of online insurance has been one of caution and, ultimately, missed opportunities in the past. But are things really changing? Are insurers starting to catch up to banks and other providers of financial services in the online realm? The answer, for the most part, is still “no”. So where does the industry go from here?
Lloyd’s “franchise” proposal could signal end of “Names”
February 1, 2002 by Canadian UnderwriterIn response to criticisms for years of poor financial performance, the world’s oldest insurance market Lloyd’s of London has released a series of proposed structural changes to “modernize” the system. Among the changes put forward to the Council of Lloyd’s…
Lloyd’s proposals necessary but challenging, says S&P
January 30, 2002 by Canadian UnderwriterProposed reforms to the structure of the world’s oldest insurance market announced by Lloyd’s earlier this week are being praised by rating agency Standard & Poor’s. Although the announcement does not impact Lloyd’s single-A rating, S&P says the reforms “address…
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…
Canadian operations contribute to Crawford success in Q4
January 25, 2002 by Canadian UnderwriterAdjuster Crawford’s Canadian operations are being called a “primary driver” in the growth of the company’s international operations. Overall, Crawford reports fourth quarter 2001 revenues increased 5%, to US$178.1 million, over the same period in 2000, and operating earnings up…
ING-Zurich deal finalized
January 25, 2002 by Canadian UnderwriterA deal with sees Zurich North America Canada’s personal lines p&c book head to ING has been granted regulatory approval. The agreement, first announced in November, also sees the company’s forming an alliance in the commercial market, and able to…
U.K. extends airline insurance while Canadian deadline looms
January 22, 2002 by Canadian UnderwriterAs the U.K. government decides to extend “war and terrorism” insurance coverage for its airlines until the end of March, the future of Canada’s airlines remains unknown. The U.K.’s former deadline of January 22 has been moved to March 20,…
Lloyd’s releases proposal for new market structure
January 17, 2002 by Canadian UnderwriterIn response to criticisms and years of poor results, Lloyd’s of London has released a series of proposed changes to “modernize” the 300-year-old insurance market. Among the changes being put before the ruling Council of Lloyd’s is the end of…
IBC makes pitch for Ontario health care reform
January 17, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada is calling for changes to the way insurers and rehabilitation service providers deal with each other, in light of the growing cost of auto-related injuries to the industry. In a submission to the Ontario Ministry…
Scor & RSA see ratings downgraded in the wake of poor Q-4 results
January 16, 2002 by Canadian UnderwriterTwo global giants have seen their ratings downgraded as a result of poor financial results in the fourth quarter of 2001. A.M. Best has downgraded Scor Re from A+ (Superior) to A (Excellent), a grading that also applies to Scor…
Lloyd’s syndicates and names fewer for 2002
January 14, 2002 by Canadian UnderwriterLloyd’s of London will have fewer Names, or individual investors, as well as syndicates for the coming year. This comes despite a rise in investment in the insurance market, in response to hardening rates for 2002.The number of syndicates has…