Insurance-Canada.ca Newsletter Archive

Issue 2004-42:   November 9, 2004

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.




Seminar:

"Marketing: Differentiation Through Online Services" the final Insurance Canada Seminar of 2004 will be held in the morning of Wed Nov. 17, 2004 in downtown Toronto. For some time, a Web presence has been an essential part of a marketing program. This has evolved to another plane, with online and supporting services becoming a key characteristic of effective marketing. Join us to learn more - the course description at http://www.insurance-canada.ca/seminars/seminar20041117.php provides details and registration information. Check it out, and register today.

Consumer Information

Use extra hour to consider Home Safety - IBC

"When you wake up Sunday morning, you'll have an extra hour, so why not take some of that time to make sure your family is protected? When you reset the clocks in your home, take the time to check the batteries in your smoke and carbon monoxide detectors at the same time," says Mary Lou O'Reilly, Vice-President, Public Affairs and Marketing, IBC.

Hundreds of Manitobans injured due to auto collisions with wildlife: MPIC.

With nearly 300 Manitobans injured some seriously last year as the result of automobile-wildlife collisions, Manitoba Public Insurance is encouraging motorists to exercise caution when travelling in areas populated by wildlife. "This fall we've already seen two fatalities that appear to have been caused by deer on the highway," says Barry Watson, Road Safety Manager.

Government of Nova Scotia releases study on the use of gender in setting auto insurance rates.

The studies address two topics: the use of gender as a risk classification factor in determining automobile insurance rates; and the rates and availability of fire, other property, casualty, and liability insurance for homeowners, tenants, non-profit organizations, and small business.

Distribution

Hub International Acquires TILCO Financial Services Limited; Vancouver Island, B.C. Brokerage Becomes Part of Toronto-Based Hub Financial, Inc.

Hub International Limited, one of North America's largest insurance brokers, today announced that its Canadian life and financial services wholesale brokerage, Hub Financial, Inc., has acquired TILCO Financial Services Ltd. of Victoria, British Columbia. TILCO has been a major client of Toronto-based Hub Financial since Tilly Enriquez founded TILCO in 1993, and essentially all TILCO business is placed through Hub Financial on a wholesale basis.

CBA Financial selects Manulife Bank as preferred bank product supplier to Canadian legal community.

Lawyers, their family and staff can now access innovative bank products through www.barfinancial.com after CBA Financial selected Manulife Bank of Canada to offer its market leading products to the legal community.

CSIO Insurance Portal Status Update

Week ending November 5: Wawanesa has delivered rates to ISI and loading is underway; The number of brokers integrated to the portal has increased by one this weeks to 116.

Claims

Lojack Corporation Acquires Boomerang Tracking Inc., Canada's Leader In Stolen Vehicle Recovery.

10/29/2004 -- LoJack Corporation (NASDAQ: LOJN) announced today that it has completed the acquisition of Boomerang Tracking Inc., Montreal, Canada. Boomerang will operate as a wholly owned subsidiary of LoJack Corporation.

Business of Insurance

Winterthur to sell L'Unique Compagnie d'Assurance Generales to La Capitale Assurances Generales Inc.

Winterthur announced today that it is selling its Canadian subsidiary L'Unique Compagnie d'Assurances Generales to La Capitale Assurances Generales Inc. The transaction price is CAD 48 million. Subject to approval by the appropriate regulators, the transaction is expected to be completed by mid-November.

Industrial Alliance Acquires BLC-Edmond de Rothschild Asset Management Inc. and Signs an Agreement whereby Laurentian Bank will Distribute Industrial Alliance Mutual Funds.

Laurentian Bank and Industrial Alliance Insurance and Financial Services Inc. announced today that they have signed an agreement in principle whereby Industrial Alliance will acquire all of the shares of BLC-Edmond de Rothschild Asset Management inc., currently held by Laurentian Bank and La Compagnie financière Edmond de Rothschild Banque. This transaction includes a 10-year exclusive distribution agreement between the two companies whereby Laurentian Bank will distribute R Funds acquired by Industrial Alliance to its clients, along with the Industrial Alliance mutual funds.

ING Canada Inc. files preliminary prospectus for Initial Public Offering.

ING Canada Inc. announced today that it has filed a Preliminary Prospectus with the Canadian securities regulatory authorities in connection with an initial public offering by ING Canada of its Common Shares in Canada. ING Bank of Canada, known as ING DIRECT, is not part of the proposed initial public offering.

Survey: CFOs need new technology to inspire confidence in numbers: SAS.

Although 81 percent of respondents believe their CFOs are a trusted adviser within their organizations, only 25 percent believe their organizations' current business intelligence technology supports the strategic demands of this key role, according to results of a recent survey unveiled today by BetterManagement.com and SAS, the leader in business intelligence.

From Canadian Insurance E-NEWS: Insurers Suffer Record $21.3 Billion in Q3 Cat Losses, Says ISO

U.S. property/casualty insurers suffered a record $21.3 billion in insured property loss claims from eight catastrophes in the third quarter � the industry's worst third quarter ever � according to preliminary estimates by ISO's Property Claim Services (PCS) unit.

Conning Research: Group Insurance Outpaced Most Comparable Individual Lines in Last Five Years.

Since 1999, group insurance product lines produced greater returns on surplus than the comparable individual lines with very few exceptions, according to a new study by Conning Research and Consulting, Inc. In a five-year period where group insurers were competing to capture what they could of a shrinking supply of business, the expected decline of profits did not materialize. Conning Research found the primary causes were favorable market conditions and group insurers' quick response to the changing product demands of customers.

Our People

Feed The Minds of Youth 2004: IIO.

For those insurance organizations who participated in The Learning Partnerships: Take Our Kids to Work event (TOKW), the Insurance Institute of Ontario (IIO) hosted a lunch event that brought together a variety of industry professionals with grade nine students across Ontario. Students spent part of the day with their parent or guardian at their work place and received a general idea of the operation. With this lunch event, they were exposed to the many careers available within the property and casualty insurance industry and to see how they work together.

Policy Management

American Driving Records Delivers Instant Motor Vehicle Records Through IVANS Transformation Station™.

First Advantage Corporation (NASDAQ: FADV), a leading risk mitigation and business solutions provider, and IVANS, Inc. announced today that they have entered into an agreement to deliver motor vehicle records through IVANS insurance agent interface platform, Transformation Station™. As the industry leading Internet managed data exchange, Transformation Station uses Web services and ACORD XML to enable real-time transactions between insurance carriers and independent agents and brokers.

Guy Carpenter Introduces Reveal™: Refined Exposure Rating Model for Writers of Workers Compensation Risk.

Guy Carpenter & Company, Inc., the world's leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies, Inc. (NYSE: MMC) today announced the introduction of the Reveal™ model, a refined exposure rating tool that helps to identify the drivers of costly excess losses within workers compensation portfolios.

Product Announcements

National Life Unveils NL Pick-A-Term, The Most Flexible Term Life Plan Available.

National Life announces the launch of NL Pick-A-Term, the most flexible term life plan available to the Canadian marketplace. This new product enables advisors to provide their clients with tailored insurance protection to suit their specific needs. "NL Pick-A-Term gives you the flexibility to customize the length of coverage to the number of years you require from as short as 10 years to as long as age 85," says Promod Sharma, Actuary Individual Insurance.

eBusiness and Technology

Web Metrics and The Bottom Line: eMarketer.

1997, IDC coined the term "analytic application" to describe applications that involved the following three critera � process support, separation of function and time-oriented, integrated data from multiple sources. Today, Internet marketers and IT professionals alike are familiar with Web analytics applications, as such applications have no doubt been incorporated into their daily workflow.

from Doug:

Last week Dr. Dorothy Duncan spoke to our group about her book on Food and Drink in early Canada, and the preparations people made then for the Christmas season. In a sense, it was a bigger celebration then than now - it certainly required a lot more planning and work for what we would call the basics. They remembered and looked ahead.
Let us too remember, on this Remembrance Day, Thursday November 11, all those who fought and contributed, in days past and today, for what we have.