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Weekly news roundup: January 27-February 2, 2012

Mondial becomes Allianz Global Assistance; IBAO launches new web tool; IBC creates fraud awareness.

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• Weekly news roundup: May 11 – 17, 2012
• Weekly news roundup: May 4 – 10, 2012
• Weekly news roundup: April 27 – May 3, 2012
• Weekly news roundup: April 20 – 26, 2012

Mergers and partnerships

Mondial Assistance Canada became Allianz Global Assistance on February 1, 2012, as part of a global brand transition expected to be completed later this year. According to Canadian CEO Scott McKellar, this rebranding will bring both enhanced brand recognition and business opportunities.

Policy Bill has partnered with Totten Insurance Group to provide an outsourced point of sale solution for monthly payment plans. The Totten Pay Plan is a premium finance solution that allows clients to pay for their Totten policy using a monthly payment option. To read more on this story, click here.

Intact Insurance will be supporting the 24th edition of the annual Quebec School Bus Safety Campaign, as principal partner with the Association du transport ecolier du Quebec (ATEQ). In so doing, Intact Insurance follows in the footsteps of AXA, which had supported the campaign for nearly a quarter of a century.

National accounting, tax and advisory firm Grant Thornton LLP announced that effective March 1, 2012, Nova Scotia-based insolvency and restructuring firm Green Hunt Wedlake Inc. will join Grant Thornton. Along with Green Hunt Wedlake partners Peter Wedlake and Robert Hunt, who bring extensive experience as licensed trustees, Grant Thornton will welcome 20 new team members.

Symbility Solutions is acquiring Marshall & Swift/Boeckh’s (MSB) claims division, including contracts, claims employees, software and analytics assets. In consideration for these assets and a cash investment, MSB’s parent company, Decision Insight Information Group, will become the largest shareholder with a one-third equity stake in Symbility’s parent company, Automated Benefits Corp.

The International Insurance Society (IIS) announced an unprecedented partnership with the United Nations Environment Programme Financial Initiative (UNEP FI) to launch the Principles for Sustainable Insurance during the upcoming IIS 48th Annual Seminar at the Sofitel Rio Copacabana Hotel in Rio de Janeiro, Brazil, June 17–20, 2012. The Principles for Sustainable Insurance represent a global best practice framework to address environmental, social and governance risks and opportunities in the insurance business.

New products and courses

For the remainder of 2012, Insurance Bureau of Canada (IBC) and the Canadian Police Knowledge Network (CPKN) are sponsoring free access for Canadian frontline police officers to a 45-minute online training course on auto fraud. Identifying Staged Collisions provides information on the various signs, indicators and behaviours that may characterize a staged collision. It also describes techniques to properly investigate suspected incidents that have links to service supplier fraud from towers to medical clinics.

The Insurance Brokers Association of Ontario (IBAO) launched a new website tool, MyInsuraceShopper Know Your Stuff – Home Inventory, a free online software for consumers. The application makes creating and updating home inventory easy and efficient, and includes secure online storage so consumers will have access to inventory anytime, anywhere.

ILScorp, a long-time provider of insurance and financial services education and training, introduced the ILS Introduction to General Insurance program. Recently accredited by the Insurance Council of British Columbia, this program allows students to study for and obtain their Level 1 general insurance salesperson’s license from a single source.

National news

Saskatchewan Premier Brad Wall says a law banning the use of hands-free communication devices in vehicles would be unenforceable, while SGI acknowledges that hands-free devices are just as dangerous as hand-held ones. To read more on this story, click here.

In an environment of rapidly evolving risks, purely anticipating risk is not enough, said Joe Plumeri, chairman and CEO of Willis Group. Speaking at the World Captive Forum in Miami, FL, the chief of the global insurance broker said organizations also need to focus on building resilience to effectively manage risk and position themselves for long-term sustainability.

ACE Canada has appointed Steven Lucas to vice president, national accounts. Lucas will be responsible for leading the business development strategy and will act as the principal contact for ACE Canada’s national account segment. He will report to David Brosnan, country president, ACE Canada.