Issue 2005-19: May 10, 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.
Managing Relationships and Customer Service
Life Matters - Manulife Financial's 2004 Public Accountability Statement now available on-line.
TORONTO, May 3, 2005 - Manulife Financial Corporation's 2004 Public Accountability Statement, entitled "Life Matters," is now available for download at www.manulife.com. For Manulife, accountability means more than delivering solid financial results to shareholders. Being accountable also means taking a leading role in fostering strong, healthy, vibrant communities. In 2004, Manulife contributed more than $15 million and some 13,000 volunteer hours to the communities in which we operate in Canada, the United States and Asia.
Product Announcements
Compucage International Inc. Introduces the Compucage CompuCollar to its Award Winning Line of Enhanced Physical Security Devices.
Mississauga, ON (Dec 23, 2004) Compucage International Inc offers additional, robust tools in the fight against office equipment theft. Since impressing the physical security market 4 years ago with innovative products such as the Benji, L4000 and T-Series for computer systems; Compucage is poised to repeat the success with its newly introduced Compucage CompuCollar. What is a CompuCollar? The Compucage CompuCollar is the latest in LCD monitor protection. This alloy steel collar offers a robust, attractive, and stronger deterrence alternative than the old security slot system.
Markel Insurance Launches Markel EZCert™.
TORONTO (May 5, 2005) – Markel Insurance Company of Canada today announced the launch of Markel EZCertTM, the first online insurance certificate issuance service for the Canadian trucking insurance industry.
Claims
Accident Support Services Ltd. Growing Again! New Center in Cornwall Ontario!
Accident Support Services Ltd., originators of Collision Reporting Centers, is proud to announce the April 26, 2005 opening of a Collision Reporting Center in partnership with the Cornwall Community Police Service.
ISB connects directly to the New York State Highway Patrol.
May 5,2005 Milton, ON -- In our continuing effort to provide claims professionals with all the documents and information they need to process claims, the Insurance Search Bureau of Canada (ISB) is pleased to announce the launch of a valuable partnership with the New York State Highway Patrol.
"Fire & Life Safety Sustainability" Seminar, June 16, Toronto, Institution of Fire Engineers Canada.
Institution of Fire Engineers Canada Branch Presents a one day Continuing Professional Development Seminar on: "Fire & Life Safety Sustainability" Thursday, June 16th, 2005, 0800 - 1630 hours Toronto Fire Academy 895 Eastern Ave, Toronto, Ontario, M4L 1A2
From Canadian Insurance ENEWS: Crawford's Gibson Assumes Chair of Global Technical Services Advisory Board.
ATLANTA - Jeffrey T. Bowman, president of Crawford & Company international operations, announced today that he has appointed Glenn Gibson, chief executive officer of Crawford Adjusters Canada, to be the next chairman of Crawford's Global Technical Services (GTS) Advisory Board. Effective May 9, 2005, Gibson will assume the role from Mike Reeves who will concentrate on the group's Corporate Multinational Risks (CMR) unit. Gibson will continue to remain CEO of Crawford Adjusters Canada.
Consumer Information
Young drivers can gain safety skills, save money under Royal & SunAlliance Canada's Drive for Life Inc.
Royal & SunAlliance Canada and Drive for Life Inc. announced the availability of a new driver training program designed to provide real-world skills and insurance discounts for families of young drivers.
Insurance Corporation of British Columbia warns motorcyclists and drivers to use extra caution this summer.
Almost 80 per cent of the yearly injuries and deaths involving motorcycles take place from May through September, according to police-reported collision data.
Business of Insurance
Industrial Alliance Reassures Clients with Investments in Funds Managed by the Norshield Financial Group.
QUEBEC CITY, May 5, 2005 - Industrial Alliance Insurance and Financial Services Inc. wishes to inform its clients that they may continue performing transactions with funds managed by the Norshield Financial Group (Norshield), despite yesterday's announcement that Norshield was suspending redemptions on its core hedge fund products. Norshield, one of Industrial Alliance's external fund managers, manages two of the Company's segregated hedge funds: the Multi-Strategy Fund and the Global Trading Fund.
Hub International to Acquire THB Intermediaries.
CHICAGO, May 3, 2005 -- Hub International Limited: Hub International Limited announced today that it has entered the reinsurance brokerage market through the acquisition of THB Intermediaries, Inc., formed in Los Angeles more than twenty years ago, for cash and common stock. Terms of the agreement were not disclosed.
New Eastbridge package looks at five new categories of benefit industry carriers.
AVON, CONNECTICUT, USA (May 4, 2005) - By the year 2020, most manufacturers (carriers) will provide both protection and fund management services. However, both will be highly competitive businesses where scale is vitally important. As such, there will be a continuing shake out among the remaining players.
From Canadian Insurance ENEWS: European Reinsurers Improve Profits Despite Record Catastrophes: The Benfield Group
The restraint on top-line growth delivered rewards at the bottom line, as profitability improved, despite the effects of the worst ever year for insured natural catastrophe losses. Non-catastrophe business proved remarkably resilient as pricing discipline held up and losses were moderate. Gross premiums fell, in aggregate, as companies were prepared to forego volume for profitability.
CSIO Insurance Portal Status Update
Week ending May 6, 2005:
The number of brokers integrated to the portal has increased to 174, with 29 more in progress.
Distribution
Advocis hosts annual national conference in Halifax.
Advocis, The Financial Advisor Association of Canada, is pleased to host its 2005 annual National Conference in Halifax attracting financial advisors from across the country.
Advocis Responds in Defense of Advisors.
Toronto, ON - April 29, 2005: Advocis, The Financial Advisors Association of Canada, today responded to recent comments by various parties on the role of advisors in the Portus case.
Marketing and the Market Place
RBC Housing Study Part III: Ipsos-Reid.
April 27, 2005 Toronto, ON – Bigger is better according to the RBC Royal Bank 12th Annual Housing Study which found that 12% of Canadians would like more space or a bigger home if they could change one thing about their current house. One in seven (14%) Canadians would not change anything about their house.
Policy and Product Management
Guy Carpenter Publishes Survey of Specialty Program Issuing Carriers.
Guy Carpenter & Company, Inc., the leading global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, today announced the results of its premier survey of domestic insurance companies that write a significant amount of program business through program administrators.
eBusiness and Technology
Spending on Software as a Service Exceeds Expectations and Will Continue to Grow Through 2009, IDC Finds.
FRAMINGHAM, Mass., May 4, 2005 - Worldwide spending on software as a service (SaaS) reached $4.2 billion in 2004, an increase of 39% over 2003 according to a recent IDC study. IDC believes worldwide spending on SaaS will continue to increase over the next five years at a 21% compound annual growth rate (CAGR), reaching $10.7 billion in 2009.
from Doug:
The leaves are unfolding and flowers blooming. The days are warming. What a great time of year. Enjoy!