What’s New: In Brief (April 16, 2007)

The Insurance Corporation of British Columbia (ICBC) is crediting its anti-fraud programs with saving motorists more than $75 million. Savings are based on the estimated value of fraudulent claims that were denied, money recovered and savings generated through fraud prevention. According to an ICBC release, anti-fraud efforts led to 104 convictions against 64 defendants last year. More than $207,000 was paid back to the insurance corporation in restitution and fines in 2006, up from $73,000 in 2005. And there was a significant increase in jail time with fraudsters sentenced to a total of 2,087 days behind bars in 2006.

Guy Carpenter & Company, LLC, has announced the appointment of Julia Chu as managing director and casualty solutions architect in the firms casualty specialty practice. In this capacity Chu will focus on sales and business development, value-added client analysis and the development of new analytical tools, models and reinsurance structures. Prior to her post at Guy Carpenter, Chu served as the vice-president at Aon Re, where she focussed on traditional and non-traditional reinsurance pricing for the companys property and casualty business including the areas of general liability, workers compensation, D&O, E&O, medical malpractice, commercial auto, personal auto and homeowners.