Industry Archives - Page 1254 of 1377

Alignment of Market Forces…

The arrival of 2004 no doubt brought a sigh of relief from many Canadian insurer CEOs in thinking that the climate of the marketplace can only improve going forward after having “survived” the stormy year past. For once, such hopes could prove to be more than just desperate “wishful thinking” as insurers’ financial returns for […]

By Sean van Zyl, Managing Editor | December 31, 2003

4 min read

Industry

The Recruiter

With the concerted drive of property and casualty insurers over the past two years to contain claims costs, a great deal of attention has turned to the professionals who provide the critical "fieldwork" to claims management - company and independent claims adjusters. The claims handling profession, from the independent operator to the inhouse employee, has as a result been presented with numerous cost challenges over recent years, confirms Frank Castaldo, president of the Ontario Insurance Adjusters Association (OIAA) for the 2004 term. The cost pressure on the insurance industry has also introduced added stress for both company and independent adjusters, he observes, the result being a more intense workload with insurers less likely to outsource job files. But, the biggest concern arising from the current state of the market is the shortage of new talent coming into the adjusting profession, Castaldo says. This is where he believes organizations such as the OIAA play their most important role.

By Sean van Zyl, Editor | December 31, 2003

6 min read

Industry

2003 A “Modest” Year for Cat Losses

On a global scale, 2003 will go down as a modest year for insured catastrophe losses, but the human toll of yearend disasters – specifically the earthquake in Iran – were significant. In its annual report on global catastrophes, Munich Re notes that total insured losses for the year were US$15 billion, with Swiss Re […]

December 31, 2003

2 min read