Issue 2009-24 -- June 16, 2009
This newsletter is for members of the Canadian Insurance Industry, and those who serve it. The newsletter is published weekly, and notes information about the use of the Internet and related technologies in the industry, insurance products and the marketplace. Some is international, where we feel it is relevant to Canada.
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Product Announcements
New Power Sports Insurance Solutions™ Benefits Canadian Snowmobiling: York Fire & Casualty.
SUMMERSIDE PEI, June 12, 2009 - Canadian snowmobilers are celebrating the launch of Power Sports Insurance Solutions™. The new and unique to Canada program will benefit this country's snowmobile industry by making sled insurance more accessible, available and affordable. York Fire & Casualty Insurance Company (York) and the Canadian Council of Snowmobile Organizations (CCSO) announced Power Sports Insurance Solutions™ today at the International Snowmobile Congress, the world's largest annual snowmobile convention.
ACE Canada Introduces ACE WorldSafe(SM); Comprehensive business travel security and medical plan.
TORONTO, June 9, 2009 - ACE Canada, the Canadian-based operating division of the ACE Group, today announced it has launched ACE WorldSafe(SM), which is designed to address an organization's risk management and human resource needs in one easy to administer program. ACE WorldSafe is a comprehensive out-of-country security and medical insurance plan coupled with medical and security evacuation services provided by International SOS.
Managing Relationships and Customer Service
CIGNA International Makes Medical Tourism, Other Podcasts Available.
CLAYMONT, Del., June 02, 2009 - CIGNA International released a podcast on medical tourism today, along with podcasts on several other topics to help employers stay on top of global health trends and select an international coverage program for expatriate employees. The podcast library is available on CIGNA International's secure Web site and can be accessed anywhere, anytime from a computer or downloaded to an MP3 player.
Claims
TIRF launches the Alcohol Interlock Curriculum for Practitioners Website.
The Traffic Injury Research Foundation is pleased to announce the launch of the Alcohol Interlock Curriculum for Practitioners (AICP) website, an educational resource for diverse audiences. Information relating to the following topics can be found at this site:
Vaisala awarded next phase of National Weather Service Next Generation NOAA Profiler Network contract.
May 13, 2009 - Vaisala was recently awarded a third phase development contract to proceed with a demonstration wind profiler system for the National Oceanic and Atmospheric Administration (NOAA) Next Generation Profiler Network (NGNPN). Vaisala was awarded phase one of the upgrade project in March of 2008 and has successfully progressed through the Preliminary Design Review in June 2008 and the Critical Design Review in May 2009.
ADVERTISEMENT
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Distribution
Manulife Financial launches Small Business Solutions Centre.
WATERLOO, ON, June 8 2009 - Manulife Financial is launching an online Small Business Solutions centre to help advisors work more closely with small business by making it easy to identify and provide comprehensive business and personal financial solutions for their Canadian small business clients.
Policy and Product Management
Celent provides a detailed look at 38 commercial lines policy administration systems.
New York, NY, USA - June 01, 2009 - This report is the third in Celent's biannual look at policy administration systems available to insurers in North America. Since the first report in 2005 and the second in 2007, activity level has remained high among both insurers and policy administration system vendors.
Celent provides a detailed look at 29 personal lines policy administration systems.
San Francisco, CA, USA - June 01, 2009 - This report is the third in Celent’s biannual look at policy administration systems available to insurers in North America. Since the first report in 2005 and the second in 2007, activity has remained high among both insurers and policy administration system vendors.
eBusiness and Technology
Information Model Preview Distributed to ACORD Members.
PEARL RIVER, NY and LAKE BUENA VISTA, FL - May 17, 2009 - ACORD (www.acord.org) released one of the main facets of its Framework - the Information Model - to members today at the 2009 ACORD LOMA Insurance Systems Forum.
Our People
National Corporate Awards Given to Sun Life, Foresters and Canadian Premier Life for Employee Development; Top Students Recognized: LOMA/LIMRA.
TORONTO, June 9 2009 -- Sun Life, Foresters and Canadian Premier Life received top honours at the LOMA/LIMRA Canada's Annual Conference held today at the Metro Toronto Convention Centre. The awards recognize best practices in learning and development in Canada's life and health insurance industry.
ADVERTISEMENT
The Globe and Mail Report "The Business of Insurance"
The Globe and Mail will publish a special national report "The Business of Insurance" on November 4th to over 1.3 million Globe readers coast-to-coast. The #1-read publication by Canada's senior executives, reaching more Canadians with higher education.
If your company or organization would like to find out how you can be involved in the editorial along with a limited number of advertising positions, read this information and contact:
Richard Deacon, National Business Development Manager,
RDeacon@globeandmail.com Tel 604-631-6636
Business of Insurance
Life Insurance Mergers & Acquisition Activity May Heat Up Over the Next 12 Months, According to Towers Perrin Study.
STAMFORD, CT, May 12, 2009 - The number of mergers and acquisitions (M&A) in the life insurance industry could dramatically increase over the next year, as improving economic conditions release pent-up demand for both acquisitions and capital raising, according to data from the latest Towers Perrin survey, "Mergers and Acquisitions, and Capital Raising."
Aon Terrorism Threat Map Shows Shift in Sphere of Conflict.
LONDON and CHICAGO, June 2 2009 -- A shift in Islamist terrorist activity from the Middle East to South Asia is the primary feature of the Aon 2009 Terrorism Threat Map, launched today by Aon Crisis Management. The map shows a trend towards fewer terrorist attacks in the Middle East but increased activity in Pakistan, India and Afghanistan, with Thailand and Nepal also showing higher levels of activity.
Consumer Information
Health care – a global concern: Part 1 - Sun Life Financial.
May 21, 2009 - The population is aging. Rapidly. Global numbers for life expectancy rose from 47 years in 1950 - 1955 to 65 years in 2000 - 2005. And the numbers are expected to rise to 75 years in 2045 - 2050.1 This bulge in the demographics, especially in developed nations, will test and impact government social policies and health-care systems around the world. The population seems to be taking note.
Retirement Rule of $20 helps Canadians concerned about market volatility and longevity risk: Russell Investments Canada.
TORONTO, June 3 2009 - Some investment experts estimate that retirees will need to replace as much as 80% of their pre-retirement income for a financially healthy retirement. But according to Russell Investments Canada's new "Retirement Rule of $20", it's not a question of how much income replacement is needed - it's how much you'll need to collect from investments, benefits, and pensions per year in retirement.
Marketing and the Market Place
CFIB Business Barometer® National small business optimism improving.
June 3, 2009 - Toronto – There are growing signs that Canada’s economy is turning the corner towards recovery. Confidence among small- and mid-sized business owners continued to improve through May. The Canadian Federation of Independent Business (CFIB’s) new Monthly Business Barometer Index rose to 60.4 last month, from 54.9 in April, and a cyclical low of 39.4 in December 2008.
from Doug:
We enjoyed a fabulous weekend commemorating the 225th anniversary of the Arrival of the Loyalists in what is now Ontario at the site of one group's landing at Adophustown, west of Kingston. Although we are an ardent group, we pale in comparison with the reenators - men women and children - who live at the site of various reenactments throughout the Spring, Summer and Fall seasons. These folks live history, literally bring it to life, and for us not quite so avid, what a great way to see how our ancestors lived in those tumultuous times.
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