Insurance-Canada.ca Newsletter Archive
Issue 2005-31: August 3, 2005
This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information mostly about the use of the Internet and related technologies in the industry. Some is international, where we feel it is relevant to Canada.
Cunningham Lindsey Chooses MS/B as Technology Partner.
New Berlin, WI - July 15, 2002 Marshall and Swift / Boeckh (MS/B), the worldwide provider of building cost data and estimating technology for the property and casualty insurance industry, and Cunningham Lindsey U.S. Inc. (CL), an international independent loss adjusting and loss management services company, have announced a new technology partnership that will streamline CL's claims workflow and continue to ensure accurate claims estimates.
Crawford Catastrophe Adjusters Mobilized Throughout the Prairie Provinces: Multiple storms cause damage in Winnipeg, Brandon and Saskatoon.
July 22, 2005 KITCHENER - Crawford Adjusters Canada employees throughout the Prairie Provinces have been helping the residents in the region recover from extensive flood and wind damage following a series of storms this past month. The first storm hit Saskatoon and southern Manitoba on June 28 and 29.
Medisys Acquires Executive Health Division of MDS.
MONTREAL, July 21, 2005 - Medisys Health Group Income Fund (TSX: MHG.UN) (the "Fund"), one of Canada's leading national providers of healthcare services to corporations and insurance companies, today announced that it has entered into a binding agreement to acquire MDS Executive Health Services ("MDSEHS"), a business unit of MDS Inc.
IRC Study Reveals Auto Injury Medical Treatment Differs by State.
July 11, 2005 MALVERN, Pa.- Auto injury claimants from four states seek different types of medical treatment, even though they report similar injuries. A new study of insurance claims by the Insurance Research Council (IRC) examined auto injury claiming behavior in California, Illinois, Texas, and Washington.
LCBO stores raise funds for the Traffic Injury Research Foundation.
OTTAWA, July 27, 2005 - Starting August 1st, the public can make donations to the Traffic Injury Research Foundation (TIRF) at all 600 LCBO stores throughout Ontario. Donation boxes for TIRF will be displayed at LCBO checkout counters until August 31st.
IVANS Teams with Horizon Healthcare Services Inc. to Provide Electronic Prescribing.
OLD GREENWICH, Conn. - July 19, 2005 - IVANS, Inc., a leading provider of networking and software solutions for the healthcare and insurance industries, is working with Horizon Healthcare Services, Inc., New Jersey's largest health insurer, to provide e-prescription services to hundreds of physicians in the Horizon network.
eBusiness and Technology
Information Builders' iWay Adaptive Framework for SOA Integrates With Eclipse Universal Development Platform.
New York, NY - June 29, 2005 - iWay Software, an Information Builders company and the leading adaptive software provider, today announced that it has joined the Eclipse Foundation, an open source community dedicated to the implementation of a universal development platform.
eMarketer: Enterprise IM - Companies find that the benefits of the speedy communication platforrn comes with headaches as well.
July 21, 2005 - According to the Radicati Group, there will be 867 million instant messaging accounts worldwide by the end of 2005, and about 1.2 billion by 2009. This includes both consumer and business users
Managing Relationships and Customer Service
ACE INA Life Insurance Establishes Calgary Accident & Health Office; Appoints Carol Clancy to Launch Office.
TORONTO, July 22 - ACE INA Life Insurance today announced it has opened a Calgary office dedicated to providing accident and health products and services. Carol Clancy, Account Executive, Accident & Health, has been appointed to establish this new office. Based in Calgary, Ms. Clancy will be responsible for client service and new business development in Alberta and Saskatchewan.
ICBC and police launch new Speed and Aggressive Driving Campaign.
Motorists have likely heard the message to slow down, but now they're being reminded to calm down. That's what ICBC and the Vancouver Police, along with municipal forces, RCMP, and Speed Watch volunteers are encouraging drivers to do.
IIHS - Front and Side Crash Test Results: 2 good Performers - Automakers are acting quickly to Improve Side Impact.
July 17, 2005 - Two large luxury cars earned top ratings in both front and side impact crash tests recently conducted by the Insurance Institute for Highway Safety. The 2005 Audi A6 earned good ratings and "best pick" designations for its performance in both tests, making the A6 a "double best pick." The 2006 Infiniti M35 also earned good ratings in both tests and a "best pick" for crashworthiness in front but not side crashes
Business of Insurance
Conning Research: Life Insurance Industry Projected to Continue Posting Strong Results in 2005 and 2006.
(Hartford, CT) July 13, 2005 - The U.S. life insurance industry is projected to post operating gains in 2005 and 2006 that build on the strong results for 2003 and 2004. The operating gain for 2004 was $6.5 billion greater than the 2003 gain, which was itself a record. The projected operating gains for 2005 and 2006, while slightly less than 2004, are likely to keep the industry on solid financial ground, according to a new report by Conning Research and Consulting, Inc.
Record First-Quarter Underwriting Profits Propel USA Property/Casualty Industry's Net Income and Surplus to New Highs - Insurance Information Institute.
JERSEY CITY, N.J., July 25 - The U.S. property/casualty industry's net gain on underwriting rose 34.8 percent to a record $7.1 billion in first-quarter 2005 from $5.3 billion in first-quarter 2004, as the combined ratio a key measure of losses and other expenses per dollar of premium improved to 91.9 percent from 93.3 percent. The $7.1 billion net gain on underwriting is the largest experienced any quarter since the start of records extending back to 1986. Similarly, the 91.9 percent combined ratio for first-quarter 2005 is the best for any quarter.
U.S. Property/Casualty Industry's First Net Gain on Underwriting Since 1978 Helps Propel Surplus to a Record High: ISO.
JERSEY CITY, N.J., July 14, 2005 Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three decades, insurers' net income after taxes and overall profitability rose for the third consecutive year, and insurers' surplus climbed to a record high, according to ISO's just-published Insurance Issues Series study Insurer Financial Results: 2004.
New Eastbridge study examines the current state of the voluntary critical illness market.
AVON, CONNECTICUT, USA (July 12, 2005)-Since the introduction of worksite critical illness products in the mid to late 1990s, there have been a number of new players. Our 2000 critical illness study profiled a number of carriers, most of which had been in the market 18 months or less. Since that time, several of these companies have discontinued marketing a worksite critical illness product but new carriers have replaced them. In a 2004 study on product trends, 66 percent of the surveyed worksite/voluntary carriers offered a critical illness plan at that time and another 28 percent said they are likely to do so in the next 2 years.
Marketing and the Market Place
eMarketer: Online Financial Services: At a Turning Point.
July 26, 2005 - Finance companies are aggressively marketing on the Internet, and expenditures are likely to increase-particularly in the area of search-as consumers embrace the idea of managing financial tasks online.
A quiet but warm long weekend here. I spent Monday, Simcoe day here in Toronto, at Old Fort York. We were stationed in the bright sun, but at least we could move slowly. I didn't envy the reenactors in wool soldier uniforms, or even the ball room dancers in their jackets and long gowns. In this area, the summer has been unbelievably warm, sunny and humid - what some would consider perfect summer vacation weather. I will let you be your own judge of that.