Risk
The debate surrounding the future of Canadian residual markets for automobile insurance has been particularly heated in the last few months. Facility Association members in June 2007 declined to approve a proposal to enable the creation of Risk Sharing Pools (RSPs) as the primary residual market mechanism for all private passenger vehicles. Despite myriad operational […]
August 31, 2007
7 min read
At an industry meeting some time ago, I heard someone say: “Insurance is the Shiva of Capital.” I am not a student of world religions, but the reference to the Hindu deity that is both the “destroyer and restorer” of worlds plays frighteningly well in insurance. We are in the business of cycles, soft and […]
6 min read
Industry
Thirty-seven years ago, Mike Donoghue, now the president and CEO of Allstate Insurance Company of Canada, joined Allstate because the gig included the use of a company car. He’s come a long way since then; now he is the chair of the Insurance Bureau of Canada (IBC)’s board of directors. From the bureau’s perspective, Donoghue’s […]
By Vanessa Mariga | August 31, 2007
Despite thwarted attempts and foiled plots Canadian businesses continue to face the risk of terrorist attacks.
4 min read
Adjusters are dismissing the entrance of third party claims agencies into the Canadian market as a passing fad
5 min read
Building boom out West inflates insurers' claims costs, as insurers find creative ways to round up contractors, collision repair shops during times of need
By David Gambrill. | August 31, 2007
Not that long ago, traditional players within the insurance industry neglected to consider the potential for IT to improve operational business processes. That corporate mindset has since been supplanted by the idea that business software can successfully assist insurers in gaining a much-needed competitive edge. And yet, many firms are still so inundated with time-consuming, […]
By Steve Clarkin, Solutions Executive, Banking and Financial Services, Microsoft Canada | August 31, 2007
The softening market has brought with it a greater selection of D&O liability terms.
9 min read
By creating and maintaining accurate data sources insurers can go a long way to improving efficiency and enhancing business opportunities.
We’ve all heard the Internet is the way of the future, providing 24/7 service to would-be policyholders. And independent brokers are constantly warning themselves that they had better become more competitive with direct writers and the so-called “virtual writers” in the use of this technology — or else. But the Internet, while it is no […]
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