Commercial
The industry is pessimistic that the commercial insurance sector will be hard hit by an overall softening trend. The Canadian Underwriter Web Poll for May asked “Will commercial insurance rates soften significantly across the board through the remainder of 2005?” Slightly tipping the scale, 60.68% of 323 respondents say “yes” while 32.51% say they don’t […]
By Canadian Underwriter | June 2, 2005
1 min read
Claims
Aon (NYSE: AOC) recently announced the results of its 2004 Insurance Earnings Volatility Study, which reports that insurers and reinsurers exhibit the least volatile earnings. “Investors place a large amount of emphasis on earnings growth and earnings volatility when evaluating investment opportunities,” Michael Bungert, president of Aon Re Global, says. He elaborates that less volatile […]
By Canadian Underwriter | June 1, 2005
Elevated labor and material costs resulting from last year’s hurricanes are likely to continue through the 2005 season, according to Risk Management Solutions (RMS). By tracking demand surge through analysis of its insurance claims data from the 2004 storms, RMS noted that as of May 2005 costs remained 20% to 40% above average. Results indicate […]
Industry
Computer Sciences Corporation (NYSE: CSC) recently announced that annual studies conducted by Celentm – global financial services information technology (IT) research and consulting firm identify CSC as a dominant provider of insurance software. This is the second consecutive year Celent’s Insurance Software Deal Trends studies cited CSC as a leading provider for property and casualty […]
2 min read
Double entry, merging of documents and a chronic inability to access information for management reports are familiar obstacles in the insurance policy issuance process. A new solution from the Nuclear Insurance Association of Canada (NIAC) enhances the Microsoft operating environment to create straight-through processing of policies. However, it may also have broader applications for the property and casualty insurance industry as a whole.
By Craig Harris | May 31, 2005
4 min read
Who would have guessed 10 years ago that collision reporting centers (CRCs) – now totaling 15 across Ontario – would become the leaders in post collision customer care? When I recently met with Al Cafik, president of the Canadian Insurance Claims Managers Association (CICMA), and senior Toronto police officers, the goal was to identify an […]
By Steve Sanderson, president of Accident Support Services | May 31, 2005
3 min read
In the decade or so since the World-Wide-Web (WWW) became a part of our business environment it has suffered from those who promised it as the instant future as well as those, like CB radios, who predicted it was just another fad. However, for more and more people, a company's website is now the first "face" they see.
By Grant Fairley of Strategic Seminars | May 31, 2005
International adjusting firm Lindsey Morden (TSX: LM), which operates in Canada as Cunningham Lindsey, saw its earnings rebound for the first quarter of 2005 to $5.2 million versus a loss of $21.1 million reported for the same period a year ago. This translates to earnings of 37 a share for the latest reporting period compared […]
May 31, 2005
A steady decline in physical damage claims over the past five years has forced suppliers like the auto glass industry to reexamine how they can add value to the insurance process. Today, the most responsive firms are emphasizing end-to-end claims management services, quick turnaround and guaranteed quality.
By Bill Robertson, vice president of The Glass Partnership | May 31, 2005
5 min read
Risk
How can broker principals get more productivity from their account executives (AEs)? Give them back their creative energy and let them polish their networking skills. However, their lack of discipline must also be turned into advantage through a “business development center” (BDC). Most brokerages structure their operations along “servicing lines”, rather than sales. Thus, you […]
By Rick Bauman, President, Bauman Consulting Incorporated | May 31, 2005
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