Issue 2009-45 -- November 10, 2009

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.




Business of Insurance

Insurers must insulate themselves in the upturn: Ernst & Young.
(Toronto, October 30, 2009) - Canadian insurers should focus on demographic changes, emerging markets, regulatory developments and opportunities for innovation to drive sustainable growth and profitability in the post-recession world, Ernst & Young says in a new report.

Gartner Identifies Six Risks that Could Destroy Financial Services Institutions.
Cannes, France, November 2, 2009 - Six "business killers" still threaten to destroy financial services institutions in the next 24 months, whether an economic upswing occurs or not, according to Gartner, Inc. These issues need to be addressed, or they have the capacity to kill the recovery for most financial-services providers (FSPs). Analysts said that those institutions that face the "business killers" head on will place themselves better to ensure that they not only survive an upturn, but to take advantage of future opportunities.

Unity Life completes acquisition of insurance business of MetLife Canada.
Mississauga, ON, November 2, 2009 - Unity Life of Canada, a ForestersTM company, announced today the completion of the assumption reinsurance agreement under which Unity Life has acquired substantially all of the insurance business of MetLife Canada, a subsidiary of MetLife, Inc. Under the agreement, which was announced on May 13, 2009, Unity.

Ontario Providing Choice in Auto Insurance: Consumers To Choose Coverage That Meets Their Protection Needs and Budgets.
November 2, 2009 - Ontario would provide consumers with more choice and flexibility in their auto insurance coverage under new proposals introduced today. Drivers could opt for a new basic level of auto insurance coverage that could help reduce their auto insurance premiums, or choose additional levels of medical and rehabilitation coverage.

Claims

Thieves Target USA Heavy Metal: NER.
JERSEY CITY, N.J. and DES PLAINES, Ill., October 26, 2009 - The National Equipment Register (NER), an ISO company, and the National Insurance Crime Bureau (NICB) today released their first joint heavy-equipment theft report. The report illustrates how equipment owners and insurers pay hundreds of millions of dollars a year to replace stolen equipment. The report also highlights the significant indirect costs to the economy, such as project delays to critical infrastructure projects and delayed building occupancy.

Consumer Information

Plan for a safe ride home this holiday season: IBC.
KINGSTON, ON, Nov. 4 2009 - Again this holiday season, Operation Red Nose (ORN), its provincial sponsor Insurance Bureau of Canada (IBC) and provincial host Ontario Safety League (OSL) - supported by dedicated volunteers - are making sure partygoers and their cars get home safely.

ICBC: The top five facts you should know about seatbelts.
Sep 24, 2009 - VANCOUVER - Did you know that you are 25 times more likely to be killed or injured in a crash if you are ejected from the vehicle? Now that's a reason to buckle up. As September's Seatbelt Awareness campaign continues throughout the province, ICBC is reminding drivers and passengers about the importance of wearing a seatbelt. The campaign includes advertising and enhanced police enforcement intended to encourage drivers and passengers to buckle up.

Winterproofing Your Home Can Prevent Disaster-And Save You Money: I.I.I.
NEW YORK, October 29, 2009 - Everyone is looking for ways to save money, so taking a few simple steps to winterproof your home against snow, wind and freezing temperatures is a smart investment of time and a little money. Winter storms can wreak havoc on homes and account for a large number of insurance claims each year, according to the Insurance Information Institute (I.I.I.)

Tough New Laws Targeting Identity Theft Receives Royal Assent: Government of Canada.
OTTAWA, ONTARIO--(Oct. 27, 2009) - The Honourable Rob Nicholson, P.C., Q.C., M.P. for Niagara Falls, Minister of Justice and Attorney General of Canada, and Mr. Daniel Petit, M.P. for Charlesbourg-Haute-Saint-Charles and Parliamentary Secretary to the Minister of Justice, today welcomed the granting of Royal Assent on Bill S-4, a legislation that will provide police and justice officials with important new tools in the fight against identity theft, a fast-growing crime throughout North America.

Distribution

ACT Launches Podcasts on Agency Productivity & Internet Marketing: IIABA.
ALEXANDRIA, Va., Nov. 5, 2009 - The Independent Agents & Brokers of America's Agents Council for Technology (ACT) has released podcasts on agency productivity and Internet marketing. The podcasts include audio of two highly successful panel discussions that took place at the ACT Special Event with Young Agents and IIABA state officers in New Orleans this fall.

Marketing and the Market Place

Canadians Becoming Less Concerned With Online Security: Ipsos Reid.br> November 3, 2009 - Calgary, AB - A new study released by Ipsos Reid examining Online Privacy and Security has found that 34% of online Canadians are 'very concerned' with their Online Security, a decline of 13% from 2003. However, those online Canadians who state that they are 'somewhat concerned' increased by 11%. The overall level of concern (80%) remains consistent with 2003.

Reference and Statistics

MIB Life Index Reports North American Life Insurance Activity Up 2.4% in October.
Braintree, MA. - (Nov. 5, 2009) North American application activity for individually underwritten life insurance was up +2.4% in October year-over-year, according to the MIB Life Index. While the Index lagged prior year's results for the first two quarters of 2009, July and August activity was flat with solid gains posted in September (+1.2%) and October, year-overyear. Year-to-date (YTD) application activity is off -0.5% compared to the same ten months in 2008. October?s application activity was up +3.7% over this past September.

eBusiness and Technology

IBM Launches New Storage Cloud Solution for the Enterprise.
BOSTON, MA, October 6, 2009: At its Information Infrastructure Analyst Summit IBM (NYSE: IBM) announced its intention to enter the cloud storage space with the launch of the IBM Smart Business Storage solution, IBM Information Archive and new consulting services.

Managing Users' Transition from File-Orientation to Web 2.0 Approach Will Be a Major Challenge: Gartner.
Egham, UK, October 27, 2009 - While retaining secondary support for documents, 80 per cent of enterprise collaboration platforms will primarily be based on browser-based Web 2.0 techniques by 2013, according to Gartner, Inc. As wiki-like collaboration techniques mature and gain more acceptance, Web 2.0 approaches will become increasingly influential.

Next Gen to Meet New Normal in the Post-Recession Economy, According to IDC.
FRAMINGHAM, Mass., October 19 2009 - The global economic retrenchment over the past 18 months has been accompanied by an unprecedented contraction in the availability of capital. Faced with limited capital to fuel business operations and fund business investments, business and IT leaders have slashed expenses and limited capital purchases. With the economy now poised to begin a very modest, multiyear recovery, IDC expects these "new normal" economic operating practices will continue to shape key decisions about IT operations and investments for years to come.

from Doug:

Although I would like several more, last weekend was possibly our last crack at an early Fall weekend occurring before winter. Blue sunny skies and warm temperatures brought many people outdoors to rake leaves, do other yard work or stroll, jog, run, or bike the various trails. As I passed by on Saturday there were seven parasails in the air in one of the outer harbours, and several more on the beach - it was late in the afternoon. It was great.


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