Issue 2006-14: April 4, 2006

Consumer Information

As you "Spring Forward," make sure you have smoke detectors on every level of your home: IBC.
As Ontarians "spring forward," the Insurance Bureau of Canada reminds them that it's a good time to check that smoke detectors are in working order. This year, they should also be aware that it's now the law to have working smoke detectors on every level of their home and outside sleeping areas.

Average auto insurance premium in New Brunswick is $921: IBC.
In response to conflicting and misleading reports in recent days concerning New Brunswick auto insurance premiums, Insurance Bureau of Canada has provided accurate information.

Using Beginner drivers needed to complete driver distraction study at University of Calgary: IBC Sponsors Study.
CALGARY, March 29, 2006 - If you are between 16 and 21 years of age and have obtained your probationary driver's license within the last year, you could qualify to participate in an important cellphone and driving study now underway at the University of Calgary.

Transport Canada Surveys Show More Canadians Than Ever Using Seatbelts.
February 28, 2006 - OTTAWA - The latest results of two Transport Canada surveys show more Canadians than ever using seatbelts. The number of vehicle occupants using seatbelts across Canada has risen almost four per cent over the past year to 90.5 per cent (compared to approximately 87 per cent in the last survey), according to the results of the 2004-2005 surveys of seatbelt use.

New U.S. Study Concludes Driver Behavior Causes Most Truck Crashes.
Friday, March 24, 2006 - WASHINGTON, DC - Drivers of large trucks and other vehicles involved in truck crashes are ten times more likely to be the cause of the crash than other factors, such as weather, road conditions, and vehicle performance according to a new study released by the Federal Motor Carrier Safety Administration (FMCSA).

CIHI Report: Canadians begin waiting for surgery before getting on the "wait list".
March 7, 2006 - Much of the attention on waiting for health care focuses on surgical and diagnostic imaging wait lists. New data show that, at least in some cases, waiting to see a specialist also makes up a significant proportion of the overall waiting period for care.

Policy and Product Management

Product Development Best Practices: Report Published by Celent.
San Francisco, CA, USA - March 20, 2006 - In a new report, Product Development Best Practices, Celent looks at the increasingly important topic of product development in the insurance industry. According to the report, insurers need to develop product development plans with input from the field and should use technology that permits changes to be made externally from legacy programs

Guy Carpenter Introduces Industry's First Agricultural Risks Exposure Model for Italy's Hail Insurance Market.
New York, March 13, 2006 - Guy Carpenter & Company, Inc., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies (NYSE: MMC), today unveiled its new Agricultural Risks Exposures (ERA) model for Italy's hail insurance market. The ERA model was designed to improve risk evaluation for reinsurance treaties in the increasingly risk-diversified Italian crop hail market for property insurers.

eBusiness and Technology

Information Technology Spending in United States Expected to Increase, Accenture Study Finds.
NEW YORK; March 16, 2006 - The majority of business and information technology (IT) executives in the United States anticipate increases in IT expenditures over the next three years, according to results of an annual study released today by Accenture.

Marketing and the Market Place

Majority Of Canadian Professionals (59%) Believe Access To Mobile Technology Will Increase Their Productivity And Drive Company Profitability: Ipsos Reid Survey.
March 8, 2006 Toronto, ON - According to a new Ipsos Reid survey conducted on behalf of Microsoft, a majority (59%) of Canadian professionals believe mobile devices that allow them to connect to information like email when they are away from the office can make them more productive. And 84% of those who use a mobile device for work say this increases their productivity and helps drive company profitability.

eMarketer: Coming Soon: More Tech Ads - Online advertising of computer hardware and sofware is set to reverse its recent stagnation.
MARCH 30, 2006 - This year, after a two-year hiatus on major announcements, and even with the postponement of Windows Vista until January 2007 - which will only delay another massive spending wave one or two quarters � several new products are coming to market.

U.S. Senior Finance Executives Challenged on How to Solve Pension Risks, Towers Perrin Survey Finds.
STAMFORD, CT, MARCH 22, 2006 -- While senior financial executives in the U.S. tend to see defined benefit pension plans as posing a major risk management challenge, more than two-thirds participating in a recent survey believe that available solutions are usually too expensive or ineffective, according to Towers Perrin, a global professional services firm.

Distribution

New Eastbridge study examines current distribution models for attracting worksite producers.
AVON, CONNECTICUT, USA (March 16, 2006)-All carriers must establish a structure for attracting producers and their business (called a distribution structure). In addition, the carrier must make sure there's a correct match between their producer profile and their distribution structure.

Business of Insurance

U.S. Tort Costs Reach a Record $260 Billion, According to Tillinghast Study.
STAMFORD, CT., March, 2006 - U.S. tort costs reached a record $260 billion in 2004, or approximately $886 per person, according to the U.S. Tort Costs and Cross-Border Perspectives: 2005 Update from the Tillinghast business of Towers Perrin. This surpassed the previous record set in 2003 by $16 billion. The 2005 Update analyzes U.S. tort costs from 1950 through 2004, with projections through 2007.

from Doug:

We have enjoyed a week of spring weather, finally. A variety of flowers are out or in bud. Now if I could figure out how to avoid the pain of tax preparation while enjoying the outdoor spring weather, life would indeed be good.
In my heritage hat, we enjoyed a trip to the Niagara area where a gathering of about eighty enjoyed a wonderful lunch at Betty's Restaurant in Chippawa, and an afternoon of activities. This area is rich in Canadian history as a major travel route for First Nations people, and then militarily in the Seven Years War, American Revolution and War of 1812, and even a touch in the Rebellion of 1837.
We managed an over-due visit to family on our trip home. A good day.


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