Issue 2008-35 -- September 16, 2008

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.




Business of Insurance

Industrial Alliance To Acquire Sarbit Asset Management.
TORONTO, Sept. 8, 2008 - Industrial Alliance Insurance and Financial Services Inc. ("IA") is pleased to announce that it has entered into an agreement with Sarbit Asset Management Inc. ("SAMI") under which IA will offer to acquire all of the issued and outstanding shares of SAMI. IA has also entered into lock-up agreements with shareholders representing over 75% of the issued and outstanding shares of SAMI.

Western Financial Group to Acquire AgriFinancial Canada Corp..
HIGH RIVER, AB, Sept. 10 2008 - Western Financial Group Inc. (the "Company") announced today it has entered into a share purchase agreement with C.A. Bancorp Inc. pursuant to which the Company or an affiliate will acquire Winnipeg based AgriFinancial Canada Corp. ("AgriFinancial") from C.A. Bancorp Inc. (TSX - BKP) and Sentry Select Total Strategy Fund (TSX - TSF.UN). Upon completion of the transaction, AgriFinancial will become a specialty unit within the Company's banking subsidiary, Bank West.

Manulife Financial receives Silver Quality Award from National Quality Institute.
WATERLOO, ON, Sept. 9 2008 - Manulife Financial's Canadian Individual Wealth Management Operations, which serves Manulife Investments and Manulife Securities International businesses, has been recognized for outstanding achievements in quality.

Guy Carpenter Publishes Annual Review of Global Catastrophe Reinsurance Market.
(Hartford, CT) September 2, 2008 - Over the past decade, the Directors' and Officers' line of business has grown faster than the broader property-casualty market, at nearly double the rate of the commercial lines average. Premium growth has come from pricing, broader coverages, and increasing penetration of the corporate marketplace, according to a new study by Conning Research and Consulting.

Conning Research: Niche Focus Spells Success in Directors' and Officers' Liability Insurance.
(Hartford, CT) September 2, 2008 - Over the past decade, the Directors' and Officers' line of business has grown faster than the broader property-casualty market, at nearly double the rate of the commercial lines average. Premium growth has come from pricing, broader coverages, and increasing penetration of the corporate marketplace, according to a new study by Conning Research and Consulting.

Claims

Guidewire ClaimCenter® receives a score of 91 out of 100 for "overall customer satisfaction".
SAN MATEO, CA, September 10, 2008 - Guidewire Software®, a leading global provider of solutions to property and casualty insurers, today announced that its ClaimCenter claims management solution has received a score of 91 for "overall customer satisfaction" (out of a possible score of 100) in a new Novarica ACE Ranking™ report published by research and advisory firm Novarica (www.novarica.com).

Distribution

Advocis: IIROC's proposed regulation of financial planners ill-conceived.
September 8, 2008, Toronto - Advocis, The Financial Advisors Association of Canada, today released its response to the Investment Industry Regulatory Organization of Canada's (IIROC) proposal that would define financial planning and establish requirements for the provision of financial planning services.

Mid-Year Voluntary Industry Confidence Index survey shows many are ahead of their sales plan for 2008, according to Eastbridge's Industry Confidence Survey.
AVON, CONNECTICUT, USA (August 19, 2008) - The latest results of Eastbridge Consulting Group's Voluntary Industry Confidence Index survey found that 42 percent of respondents say their company's voluntary sales to date have been higher than expected. This was significantly higher than the 34 percent of companies that were ahead last year at this time and the 31 percent who ended 2007 ahead of plan.

Policy and Product Management

New York Central Mutual Selects 360Value to Estimate Replacement Costs for Commercial Properties: Xactware.
OREM, Utah, and BOSTON, September 9, 2008 - New York Central Mutual (NYCM) has selected 360Value™ to estimate replacement costs for commercial properties throughout the state of New York. Developed by a team from ISO subsidiaries Xactware and AIR Worldwide, 360Value is a web-based replacement-cost estimator that provides reliable and easy-to-calculate replacement-cost estimates for residential, commercial, and agricultural properties. NYCM has been using ISO's residential replacement-cost estimation solutions since 2004.

Policy Administration Systems for Specialty, Excess, and Surplus Insurers Report Published by Celent.
This year has seen continued interest in core systems replacement among property/casualty insurers. In the unique and competitive specialty, excess, and surplus markets, insurers require a policy administration solution that can accommodate an ever-changing set of product configurations and operating models. In a new report, Policy Administration Systems for Specialty, Excess, and Surplus Insurers, Celent examines the vendors that serve specialty insurers in the US/Canada, Bermuda, European, and London markets.

Marketing and the Market Place

Societal Trends and the Impact on CRM to Be Discussed at Gartner CRM Summit in Washington D.C., September 8-10, 2008.
STAMFORD, Conn., August 26, 2008 - As IT-based devices and technologies become more personal in scope and application, social issues will become increasingly important to product success, according to Gartner, Inc. In order to identify and react to major societal shifts and trends, Gartner predicts that by the end of 2010, 15 percent of U.S. and European businesses will have formalized societal trend watching as a corporate discipline.

Consumer Information

CAA-Quebec launches Foundation to improve road safety.
QUEBEC, Sept. 8 - CAA-Quebec recently launched the CAA-Quebec Foundation, whose primary mission will be to promote greater knowledge of road safety.

A low-cost way to reduce red tape: Small business welcomes the launch of BizPaL in Newfoundland and Labrador: CFIB.
August 29, 2008 - St. John's - The Canadian Federation of Independent Business (CFIB) commended the federal and provincial governments today for their decision to collaborate in launching BizPaL.

Downtown Guelph businesses now better prepared for disasters: Co-operators.
GUELPH, ON, Sept. 9 2008 - A pilot program conducted this summer in Guelph, Ontario, has provided 350 small and mid-sized businesses in the city's downtown core with tools to help them become more resilient to the impact of natural catastrophes, fires, power outages and other potentially devastating events. The first-of-its kind pilot, part of the Open for Business(TM) program, employed a university student from May to August to provide support, distribute kits and act as a resource to local businesses.

Don't Chance It: Canadians Not Prepared For Illness or Serious Injury - RBC Insurance Poll.
TORONTO, September 10, 2008 - Many Canadians would need to delay retirement or dip into their nest egg in the event of a serious injury or illness, according to an RBC Insurance/Ipsos-Reid Survey.

Insurance in the Community

Aviva's Lew Dunn Charity Golf Classic Raises $1.7 million for Colon Cancer Research.
August 22, 2008 (Toronto, Ontario) - The Lew Dunn Memorial Foundation is pleased to announce that its Charity Golf Classic raised $300,000 for colon cancer research this week, bringing its nine year total to $1.7 million. This past Monday, more than 260 golfers teed-off at The Club at Bond Head, in Bond Head Ontario, for this annual fundraiser, named in memory of Lew Dunn, former President and CEO of Aviva Canada Inc.

from Doug:

It is hard to believe that "Ike" has come and gone, and that so little time passed between its landfall in Texas and its passage over southern Ontario. And as if we needed more rain. Compared to the tragic destruction in Galveston though, I will just thank my lucky stars, and a new roof. What a hurricane season it has been so far, with lots of water, but so far no Katrina.


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