Risk
Last November I provided a presentation in Boston, Mass. on "Automated Fraud Control" to an audience of senior American insurance executives. While all nodded in agreement with my salient points, that being internal fraud within the insurance industry is on the rise and needs to be addressed sooner than later, I was left with the feeling that most of the listeners were too aghast at the thought that their employees might be capable of stealing.
By Linden Rees, president of Underwriters Fraud Control Inc. | December 31, 1998
4 min read
Industry
The last six years have seen dramatic change in the structure and method of business of the property and casualty insurance industry. These “winds of change” sweeping through the industry are primarily a result of the unprecedented consolidation activity and the ever increasing level of competition, notes Richard Gardner, the outgoing president of the Registered […]
By Sean van Zyl, Editor | December 31, 1998
3 min read
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Insurance Institute of Ontario: Special Centennial Showcase Luncheon. More for information, call 416-362-8586. Royal York Hotel, Toronto, ON. Jan. […]
December 31, 1998
1 min read
The change occurring in traditional business roles, and to some extent the outright turmoil this is causing in certain quarters of the property and casualty insurance industry, continues to hold centre stage at professional gatherings. Preparing for the future, dealing with new technology, merger mania and how to strike strategic alliances have been served up […]
Last month Howard Moran, in his capacity as board chairman of the Centre for Study of Insurance Operations (CSIO), announced the resignation of Len Ashby as the organization’s president. Although an outspoken critic of the political dabbling of both companies and brokers in the industry’s various technology initiatives (namely Synchron), Ashby is seen to having […]
Lindsey Morden Group has sold Hambro Assistance (HA) to Eastgate Group Limited of London England for $132.4 million. HA, which provides telephone helplines and other assistance services in the United Kingdom, is a unit of Lindsey Morden’s Hambro Insurance Services Group (HIS) subsidiary. Lindsey Morden acquired HIS earlier this year for approximately $210.2 million. The […]
A battle of brawn and wits has begun among service providers to the insurance industry in response to the rapid consolidation taking place at the primary company level.Faced with a changing landscape, service providers are looking for new opportunities and cost-effective means to deliver their wares to insurers. The claims management segment, most notably the […]
By Lowell Conn | December 31, 1998
9 min read
KPMG's 7th annual Insurance Issues Conference, held in November at Toronto's Four Seasons Hotel, focused on the effectsof industry consolidation on medium and small-sized insurance players.
I am often asked what my profession is. Instead of saying, "insurance adjuster" I often respond "an arson investigator". I choose the latter for simplicity and to avoid a volley of complaints from the public over perceived injustices in the settlement of claims.
By Don Turner, an Adjusting Consultant | December 31, 1998
By Stephen Markson, a director of Forensic Systems Group and Craig Malcolm, managing partner of Forensic Accounting & Investigative Services Regardless of whether the new millennium starts on January 1, 2000 or 2001, its advent will provide abundant opportunities for new and almost undetectable fraud schemes rising from the resulting disruption many predict will come […]
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