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.
December 31, 1999
5 min read
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, […]
December 31, 1999
6 min read
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, […]
December 31, 1999
7 min read
Crawford Adjusters Canada has announced the appointment of Santo Carbone as vice president of corporate services. He replaces retiring Rex Stephenson. Carbone has 20 years of experience as an adjuster with expertise in claims management, customer relations and problem solving. Stephenson was with Crawford for over 30 years. CNA, Canadian Operations, is pleased to announce […]
December 31, 1999
1 min read
The cost of risk has risen in the U.S. but dropped in Canada, according to the recently released Risk & Insurance Management Society (RIMS) 1999 Benchmark Survey. The annual report, co-authored by Ernst & Young, polled 737 American and 79 Canadian risk managers. Continuing the trend, which began in 1995, the Canadian cost of risk […]
December 31, 1999
2 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. Ontario Risk & Insurance Management Society: Product Fair (Annual Market Update). For more information, call Marlene Jones-MacKenzie at 416-215-4288. […]
December 31, 1999
2 min read
Sports insurance is a specialty-lines oddity. It is unprofitable business marred by rising loss payouts not accurately balanced by the premiums generated. It is a competitive market where premium prices should be two or three times their current rate, insiders agree, but are not, because of eager new entrants. It is an industry with uncertain […]
November 30, 1999
7 min read
With increasing attention being brought to bear on the cost of distribution and how to improve competitiveness, insurers and independent brokers alike are repositioning. This, however, is having a noticeable impact on the industry's "traditional relationships," leaving many within the industry unsure to the "what", "where" and "how" of the future of the independent broker profession.
November 30, 1999
4 min read
Not all of the specialty sports lines are unprofitable it appears. General liability coverage has been good business for Canadian managing general underwriters K&K Insurance, who write $50 to $70 million in premiums annually safeguarding teams against litigation surrounding spectator injuries. The company handles some contingency products, their biggest client in that sector being NASCAR […]
November 30, 1999
1 min read