What’s new: In brief (August 17, 2004)

Toronto-based Accident Support Services International Ltd. (ASSI) has launched its “Collision Reporting and Occurrence Management System” or CROMS II, to allow brokers and insurers to view all post-collision information for policyholders from their desktops. The system, ASSI says, will not only reduce claims management costs, but also help to “flag” suspicious claims. The system is linked with the IBC’s VIN database and CPIC to instantly determine VIN authenticity.

Pet insurer Pethealth Inc. posted a net loss for the second quarter ending June 30, 2004 of $109,000, well below the loss of $743,000 posted a year earlier. Over the same comparative period, the company’s revenue rose 75% to $2.88 million, and gross written premiums were up 53% to $6.3 million.

The general insurance division of Desjardins Group posted net income for the first half of 2004 of $52.2 million, more than double the $20.8 million posted in 2003. Desjardins General Insurance Group’s return on equity rose to 26.7% from 12.6% over the same period. While gross written premiums were up 14%, the company attributes its rising profitability to strong underwriting results both within Quebec and the rest of Canada.