Segment
Claims
FSCO introduces new HCAI guidelines to help insurers reconcile health care invoices
June 29, 2012 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has released a new Health Claims for Auto Insurance (HCAI) July 2012 Guideline – Superintendent’s Guideline No. 02/12, intended to help insurers reconcile health care invoices. HCAI is an electronic system for transmitting…
ICBC workers to use targeted job actions during contract negotiations
June 29, 2012 by Canadian UnderwriterLocal 378 of the Canadian Office and Professional Employees Union (COPE) will address its ongoing contract negotiations with the Insurance Corp. of British Columbia through a series of targeted actions. Representing 4,600 workers at the ICBC, the union issued a…
Lloyd’s issues list of climate challenges
June 29, 2012 by Canadian UnderwriterIn the wake of the Rio + 20 conference on sustainable growth, Lloyd’s has developed a ranking of the world’s top potential climate change challenges ahead. The London insurance market identified wildfires, flood, drought, pestilence (including weeds and infestation), Arctic…
New Brunswick proposes to boost minor injury cap to $7,500
June 28, 2012 by Canadian UnderwriterNew Brunswick is proposing to increase its $2,500 cap on minor auto injuries up to $7,500 and come up with a new definition for minor injuries that would see fewer people come under the cap. The government on June 28…
Facing tough economic times, Canadians are cutting back on their insurance: survey
June 27, 2012 by Canadian UnderwriterFaced with the prospect of rocky economic times, Canadians are cutting back on the insurance they are buying, a 2012 survey commissioned for TD Insurance states. The Environics Research Group survey conducted for TD found that 42% of Canadians are…
Canadian federally regulated P&C insurers boost results in 2012 Q1
June 27, 2012 by Canadian UnderwriterFederally regulated property and casualty insurers in Canada posted improved financial results in 2012 Q1, recording a collective quarterly profit of $1.048 billion this quarter as opposed to a $721.7-million profit in the same period last year. Figures from the…
Rainfall warnings lifted in flooded B.C. Kootenay region
June 27, 2012 by Canadian UnderwriterRainfall warnings for a number of areas within British Columbia’s Kootenay region — which had already been dealing with the effects of rapid snowmelt and wet conditions over the past two or three weeks — ended in the early morning…
Ontario court awards punitive damages against insurer, distinguishing between fraud and maximizing insurance recovery
June 26, 2012 by Canadian UnderwriterWawanesa Mutual Insurance Company employed a high-stakes litigation strategy designed to intimidate homeowners seeking damages, a choice that demands significant, but proportionate punishment, an Ontario court has ruled. In Brandiferri v. Wawanesa Mutual Insurance, et al., Ontario Superior Court Justice…
Sending AB application to the wrong insurer a “reasonable explanation” for a delay in reporting the claim to the proper insurer: arbitrator
June 26, 2012 by Canadian UnderwriterAn Ontario arbitrator has awarded a $5,000 ‘special award’ against Economical Mutual Insurance Company after the company denied a claim on the basis that the claimant, Roda Egal, had not provided a reason for a delay in making her application…
Newly constructed buildings in Ontario must use heat-strengthened laminated glass
June 26, 2012 by Canadian UnderwriterOntario’s Building Code will soon require newly constructed buildings to use heat-strengthened laminated glass to prevent balcony glass from breaking and falling to roadways below. Effective July 1, construction companies must use heat-strengthened laminated glass (the same type used in…
Merchant Law Group launches $75-million class action after Alberta oil spill
June 25, 2012 by Canadian UnderwriterMerchant Law Group LLP has launched a $75-million class action lawsuit against Plains Midstream Canada ULC in connection with the oil spill near Sundre, Alberta that occurred in early June 2012. Approximately 475,000 litres of sour crude oil leaked into…
Celent report analyzes how British insurers can improve claims process
June 25, 2012 by Canadian UnderwriterInsurance companies in the United Kingdom can “shift the customer satisfaction curve” in claims by focusing on big data, analytics and operational excellence, according to a recent study by Celent. “Tweaking” the claims process by ensuring that insurers communicate using…