Risk
With little room to maneuver on premium growth and enhancing investment returns, property and casualty insurers are likely to turn their attention in the year ahead to better risk selection and improved claims handling efficiency to boost bottom-line performance, industry spokespeople say. In particular, the claims management arena is likely to become a competitive area […]
December 31, 1999
9 min read
The "just-in-time" (JIT) efficiency supply process has over recent years become more than just a popular fad among manufacturers, it has become an engraved business philosophy having produced significant operating savings to companies. However, when evaluating commercial coverages, insurers need to carefully weigh up all the risk factors associated with JIT.
5 min read
Industry
1998 proved to be a record year for mergers and acquisitions (M&As) in the insurance industry, with total transactions exceeding US$150 billion. But the pace of insurance M&As sputtered in the second half of 1998, failing to pick up any real momentum in 1999. What lies ahead for 2000?
8 min read
Pressed with rising claim costs and cutthroat pricing, insurers are having to look for cost-effective ways to reduce operating costs. Technology is expected to play a significant role in this respect in coming years, however an area offering enormous short-term scope is electronic settlement of casualty losses. Virtual settlement has finally come to Canada.
3 min read
The independent adjuster faces an array of challenges in the year ahead, concedes new Ontario Insurance Adjusters Association (OIAA) president Christina Welton. Greater regulatory scrutiny on licensing, a pending court case that could introduce more liability for claims professionals, and the ever present carrier cost squeeze will continue to make life interesting for the industry. […]
6 min read
A recent recipient of the Insurance Marketing Communications Association Golden Torch Award, honouring communication within the industry, Jan Lowther has surprised her peers once more. The flamboyant group publisher of Canadian Underwriter magazine has announced her retirement ending a twenty three year tenure with the publication.
The North American Insurance Conference, recently held in St. Petersburg Beach, Florida, drew an equal crowd of Canadian and U.S. insurance attendees, the event speakers covering a broad range of subjects from reinsurance market conditions through to the impact of primary company consolidation and the evolution of financial services distribution. However, a panel debate on […]
With the 1999 hurricane season recently closing with the last minute arrival of Hurricane Lenny causing considerably and unexpected damage in the Caribbean, the timing of the recently jointly held Institute for Catastrophic Loss Reduction (ICLR) and Insurance Bureau of Canada (IBC) Hurricane Conference was appropriately timed. Although Canada suffered minor losses through the season, […]
As the company’s senior marketing representative, this occasion was a command performance for me. My company was unveiling its new and improved 24-hour claims service, which included a fleet of modern cell phone, fax and computer-equipped cars to take our claims personnel and support staff on the road. We moved into the theatre and saw, […]
7 min read
One of the grayest areas of claims management is effective assessment of occupational related disabilities. In determining a claim settlement, the insurer not only has to judge the merit of the claim presented, but as well the accuracy of the assessment data used. However, the latter is now an area which can be more effectively managed through professional and well documented "functional evaluation" (FE) procedures.
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
