Collision Repair: Fast Lane to the Future
May 1, 2001 Sam Malatesta, vice president marketing & insurance relations atThe past decade has been a time of transition for the collision repair industry, marked by a shrinking market and consolidation. Now the industry is seeking new alliances with the insurance industry in the drive to improve efficiency and increase customer satisfaction. As both industries head into the next decade, the pressure and the potential for success is increasingly dependent on the strength of those alliances.
Privacy legislation: INDUSTRY COMPLIANCE
May 1, 2001 Carole Machtinger, chief privacy officer of Insurance InformatioNew marketing technologies and rising consumer concern of “information exploitation” by financial service providers has created a challenge for the insurance industry. Faced with new federal legislation under Bill-6, which affords information protection to individuals, insurers and their financial services…
UNLOCKING B.C.’S AUTO MARKET
May 1, 2001 Sean van Zyl, EditorAt the time of writing this article, less than two weeks remained before voters in British Columbia will be asked to choose a new provincial government. And, in the lead-up to B.C.’s provincial election set for May 16, polling results suggest that the current ruling New Democratic Party (NDP) will likely garner less than 20% of the popular vote, while the opposition Liberal Party seems to be favored by 80% of the province’s voters. As media reports in B.C. point out, it is not a case of whether the Liberals will win, but by how much. What does this have to do with the insurance industry? A change in government in B.C. this year – particularly with the Liberals in the driving seat – could herald the beginning of deregulation of the province’s $2.6 billion “basic auto” insurance marketplace which for the last 27 years has been legislatively protected and underwritten by the Insurance Corporation of British Columbia (ICBC).
Auto theft: BILLION DOLLAR QUESTION
May 1, 2001 Linda Farha of Boomerang Tracking Inc.Canadian automobile owners, insurance companies and law enforcement officials are looking for solutions to the rising cost of auto theft, which is estimated at more than $1 billion per year in this country. Many new developments in anti-theft systems have been made, but adoption rates have been slow and their effectiveness remains questionable. The latest developments in cellular tracking may be especially effective in combating the export of stolen vehicles, and new insurance incentives to drivers who install these and other devices are a key part of the solution.
BIRTH OF THE CAT BOND
May 1, 2001 Andrew RickardTHE FUTURE OF REINSUR ANCE FINANCING
ONLINE SALES: THE “BLEEDING EDGE”
May 1, 2001 Vikki SpencerThe writing is on the wall. The insurance industry must move online, and sooner rather than later. Or must it? And what form should this “movement” toward the Internet take? Speakers at the recent Strategy Institute P&C Super Summit offered a range of views on the potential for online success and disaster.
claims 2001: COURTING DISASTER
April 1, 2001 Vikki SpencerTrends emerging in claims handling suggest that adjusters will be busy in the year ahead, delegates at the recently held Ontario Insurance Adjusters Association conference were told. Fraud and litigation were central topics, with speakers predicting new perils in bad faith and class action lawsuits.
Driving Economics
April 1, 2001 Sean van Zyl, EditorThe business environment facing Canada’s property and casualty insurers over the year ahead is going to be tough, with the industry having closed the 2000 financial year with its first quarterly net loss since the 1970s and a dismal 6.2%…
A NEW ORDER VALUE OR LOST OPPORTUNITY?
March 1, 2001 Sean van Zyl, EditorComing years will see increased attention being brought to bear on the service performance of the claims management side of the insurance business, delegates who attended the recently held Canadian Insurance Claims Managers Association and Canadian Independent Adjusters Association joint…
Cross-Canada broker survey BRIDGING THE GAP
March 1, 2001 Vikki SpencerA time of sweeping change. This is no understatement of the current regulatory, market and distribution conditions in the insurance industry. For the country’s brokers, this time of change means refocusing lobby efforts, translating the hardening of rates to their…
IICC improves VIN efficiency
March 1, 2001 by Canadian UnderwriterThe Insurance Information Centre of Canada (IICC) says its member insurers in Ontario achieved a 98.19% reporting accuracy on vehicle identification numbers (VINs) for December 2000. The IICC established a joint project with the Ontario’s Ministry of Transportation in 1997…
News (February 01, 2001)
February 1, 2001 by Canadian UnderwriterTwo Royal & SunAlliance Insurance Company employees headed to Antarctica last month as part of Mission Antarctica, a five-year environmental project aimed at protecting the Antarctic wilderness. Hilda Aywaz and Brenda Lemieux were selected through a national competition of Royal…