Issue 2005-21: May 24, 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.
Consumer Information
Newfoundland Government announces additional auto insurance reforms.
Newfoundland Government Services Minister Dianne Whalen has announced additional auto insurance reform measures that will provide a further overall five per cent reduction in premiums for many drivers, with far greater savings for young drivers, while still retaining an injured person's ability to be compensated.
Nova Scotia WCB launches ad campaign to protect young Nova Scotians from workplace injuries.
HALIFAX, May 12, 2005 - Last summer, 400 young Nova Scotians were hurt on the job. The Workers' Compensation Board of Nova Scotia is launching a new advertising campaign to raise awareness among young people of the importance of workplace safety. Changing attitudes is the first step to reducing the number of young people hurt every summer.
Insurance Information Institute offers rental-car insurance tips for vacationers.
Properly insuring a rental car can be tricky. Unfortunately, many vacationers don't even think about car-rental insurance until they get to the rental-car counter, which can result in costly mistakes, according to the Insurance Information Institute.
From Canadian Insurance ENEWS: ICLR Marks Seven Years as Catalyst for Disaster Research.
In his report to the 2005 Annual Meeting of the Institute for Catastrophic Loss Reduction, Chair David Wilmot gave a brief overview of activities. Since its inception seven years ago, the ICLR has leveraged $3 million in support from Canada's insurance industry into $50 million in loss prevention research projects.
Product Information
"Innovations in Expatriate Health Care" Breakfast Seminar for Brokers: CIGNA International Expatriate
Join CIGNA International Expatriate Benefits for this special event. You will have the opportunity to explore the importance of getting quality health care outside Canada. We'll discuss the latest innovations in expatriate health care, designed to enhance the health and safety of your client's globally mobile employees.
CSIO Insurance Portal Status Update
Week ending May 20, 2005:
The number of brokers has increased by 2 in the last two weeks to 176, with 29 more in progress.
Trillium Mutual has moved into User Acceptance Testing for Hab, and the Hab rates for Bay of Quinte Mutual have been loaded.
Distribution
HealthQuotes.ca as an MGA Announces Availability of Blue Vision from Ontario Blue Cross.
Toronto ON 13 May 2005 - HealthQuotes.ca is pleased to announce that it is now an MGA for Ontario Blue Cross' new small group and individual product, 'Blue Vision'.
CoVirt to be a Participating Sponsor of MGA Conference.
TORONTO, May 13, 2005 - CoVirt Inc. (Canada), the Canadian leader in Internet-based life insurance administration services for Managing General Agents (MGAs) announced today that it will be a Participating Sponsor of the MGA conference entitled "Changing Channel: Managing General Agencies at the Crossroads" to be held June 9 & 10, 2005 at Niagara-on-the-Lake, Ontario.
Advocis Unveils Framework for Effective Regulation in Canada.
Thursday, May 12, 2005, Halifax: Advocis, The Financial Advisors Association of Canada, today unveiled its comprehensive framework for effective regulation in Canada. The Advocis Proposal is subject to consideration and ratification by its members at its annual general meeting to be held on May 13, 2005. This groundbreaking document proposes a new regulatory structure for the financial industry that is designed with consumer protection in mind and leads to a more effective regulatory regime in Canada.
Transamerica's Innovative Webcast Turns Advisors into Product Designers.
TORONTO, May 11 2005 - Transamerica's innovative Design Group Webcast took place on March 31, 2005, enabling hundreds of financial advisors across Canada to take an active role in the design of life insurance products and services.
From Canadian Insurance ENEWS: HUB Expands to Seattle and New Orleans.
CHICAGO, May 16, 2005: Hub International Limited (NYSE/TSX: HBG), one of the leading international insurance brokerages in North America, announced today the acquisition of Tash Lyle & Jones, a Seattle employee benefits insurance brokerage. This fold-in acquisition will become part of Bush, Cotton & Scott, a regional subsidiary of Hub International. Hub also announced the opening of Hub International Gulf South, based in New Orleans, to provide a full range of brokerage services in Louisiana and nearby states.
Managing Relationships and Customer Service
CRM – Connect The Process Dots: By Cathy Lone Dawson.
The banks are doing it, trust companies are doing it, investment companies are doing it, retail stores are doing it -- using it as a competitive weapon to fight for Insurance business. We are talking about Customer Relationship Management – marketing, selling and servicing customers based on their current and potential value to an organization.
Business of Insurance
Great-West Lifeco subsidiary acquires annuity business in the United Kingdom.
WINNIPEG, May 12, 2005 - Great-West Lifeco today
announced that its United Kingdom subsidiary, Canada Life Limited, has reached an agreement
to acquire the payout annuity business of Phoenix and London Assurance
Limited, a unit of the Resolution Life Group in the United Kingdom.
Insurance in the Community
Top 20 Under 20™ - Leading the Way: ING.
May 10, 2005 - Toronto - More than 350 people gathered today to preview Canada's young leaders of today as the 2005 recipients of Youth in Motion's award and mentoring program -- Top 20 Under 20™ -- were celebrated at the Holiday Inn on King Hotel.
from Doug:
Last week we had a wonderful heritage trip to New Brunswick where we visited Fredericton and Saint John. Lots of activity and community involvement for the celebration of Loyalist Day on May 18, when they celebrate the 1783 arrival of the Spring Fleet of refugees from the American Revolution.
My in-law family enjoyed a weekend of wonderful weather, until time to return to the city, in Muskoka where we celebrated a pair of family 80th birthdays. A half day bus trip took us around Bala, the site where the family ran a lodge for three decades beginning about 1930. Great visit with family and friends, and lots of nostalgia.