Insurance-Canada.ca Newsletter Archive

Issue 2003-45:   November 11, 2003

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.




CSIO Insurance Portal Status Update

Week ending November 7: CSIO has spent the time since the Portal announcement of the January Rollout developing plans for the tasks required to be completed before and in the early weeks of the rollout, and obtaining agreement from the various stakeholders - insurers, brokers, BMS vendors, ISI etc.

Distribution

CoVirt Announces 3 More MGA's Switch to VirtGate Internet Policy and Advisor and Management Service.

CoVirt Inc. (Canada) has executed agreement where CoVirt will supply three life insurance managing general agents with VirtGate, a multi-channel policy management and advisor service delivered through the Internet. The three unrelated MGA's are Daystar Financial Group Inc., Winnipeg, Independent Financial Concept Group Inc., Toronto, and Insurmax Inc., Sudbury.

Claims

Nova Scotia Public Service (NSPS) LTD Plan Trust Fund moves to Manulife Financial.

The Nova Scotia Public Service Long-Term Disability Plan Trust Fund provides income replacement protection and a range of disability services for more than 12,000 employees in the Nova Scotia Public Sector. The Plan has made a successful transition to Manulife Financial as its claims administrator.

Accident Support Services Ltd. Receives Approval to Open a Collision Reporting Centre in Partnership with the Durham Regional Police Service.

The Durham Collision Reporting Centre will provide enhanced value to the public in the investigation of vehicle collisions. Rather than Police attending the scene of the accident, citizens would exchange information, and then they would have 48 hours to report property damage only collisions, towed or driveable, at the Collision Reporting Centre.

Hyundai Tiburon and Subaru Impreza top list of stolen vehicles IBC.

For the fourth year in a row, the Hyundai Tiburon (2-door) has the distinction of holding the top spot on Insurance Bureau of Canada's (IBC) top ten list of the country's most frequently stolen vehicles. This year's list represents results for 2001 and 2002 models, in cases where at least one thousand of each of the models was insured.

Marketing and the Marketplace

Insurers Working Round the Clock to Help Put Lives Back Together After Hurricane Juan: IBC.

The Insurance industry is coming through for Maritimers when they need it most. Residents of Nova Scotia and Prince Edward Island, hit hard by Hurricane Juan just over a month ago, are being joined in their rebuilding efforts by their insurance professionals who have been working evenings and weekends to make sure victims of Juan get back on their feet.

Business of Insurance

NewLink Celebrates 10 Years.

NewLink Group recently completed its 10th year of consulting to Insurance and Wealth Management organizations. During these years, we have worked with clients in all lines of business and throughout the value chain distributors, insurance companies, banks, mutual fund organizations, investment advisors, and securities dealers and globally in Canada, USA, England, Scotland, and France.

Technology & eBusiness, Standards

ACORD & MBA Announce Joint Release of Evidence of Commercial Insurance Form.

The Association for Cooperative Operations Research and Development (ACORD) and the Mortgage Bankers Association (MBA) announced the finalization and release of ACORD Form 28, Evidence of Commercial Property Insurance, a new standard form that meets the specific needs of the commercial mortgage and the insurance industries.

Auto Insurance News

Canadians Back Government Intervention on Car Insurance: Poll by NFO CFgroup.

Three-quarters of Canadians think that provincial governments should impose limits on auto insurance rate increases, and an equal number say that premiums should not exceed the inflation rate for people with clean driving records, a public opinion poll by NFO CFgroup suggests.

Two Hundred Bucks More: The Premium Cost of Public Auto Insurance According to New Study: Fraser Institute.

Public auto insurance premiums are the highest in Canada, concludes a new study, Two hundred bucks more: The premium cost of public auto insurance, released today by The Fraser Institute. This is the second study in the Institutes series on auto insurance, published by its Toronto office.

Auto insurance rates frozen by Alberta government.

Alberta automobile insurance rates will be frozen by the Alberta government at October 30 levels until an insurance rate reform package is approved and implemented, Premier Ralph Klein announced.

Managing Relationships

ICMA-RC Wins Dalbar Seal of Excellence for Its Defined Contribution Plan Participant Web Site.

DALBAR, Inc. announced today that ICMA Retirement Corporation (ICMA-RC) was awarded the DALBAR Seal of excellence for its Defined Contribution Plan Participant Web Site. The Seal is awarded to outstanding web sites that effectively and efficiently meet the needs of plan participants. Before awarding the Seal, Dalbar conducts a series of tests on the web site to establish that it meets the principal objectives of its audience.

Turn Service into Sales, RightNow: eMarketer.

What do you give the IT executive who has everything? How about a customer support Web application? Those are in high demand, according to nearly two-thirds of respondents to a Line56 Research survey.

Insurance in the Community

Maritime Life announces donations to help community recover from Hurricane Juan.

Manulife Financial has committed $110,000 toward recovery efforts following Hurricane Juan, including a donation to the Canadian Red Cross and a large contribution to help rebuild the Halifax Public Gardens - a national historic site that suffered severe damage in the hurricane.

Manulife Financial gives $110,000 toward Hurricane Juan recovery.

Manulife Financial has committed $110,000 toward recovery efforts following Hurricane Juan, including a donation to the Canadian Red Cross and a large contribution to help rebuild the Halifax Public Gardens - a national historic site that suffered severe damage in the hurricane.

from Doug:

Please take a moment this morning to remember those who gave so much so we can have what we have and be who we are.
Remembering can bring pleasant surprises. My Dad read a large article in the Kitchener Waterloo paper on the weekend. What a surprise to see featured a fellow RCAF pilot with whom Dad had trained in 1941. Dad looked him up in his wartime picture album. They shared training at four Canadian bases; developed some friendship at the last two. The featured pilot went oversees, shot down after many missions, years in POW camps. Dad was diverted to the west coast after Pearl Harbour and flew anti-sub patrol for the duration. Now they both live in the same city, to meet again after more than 62 years. To them, and so many who were less fortunate, we offer thanks today.