Topic
Insurance
Insurers could feel significant impact from Ontario court’s new privacy tort: legal paper
June 14, 2012 by Canadian UnderwriterThe Ontario Court of Appeal’s January 2012 decision in Jones v. Tsige, which recognized the tort of “intrusion upon seclusion” as a cause of action in Ontario, may have significant implications for policyholders and insurers, a paper from Blaney McMurtry…
Oliver Wyman, IBC each recommend a double-digit industry-wide adjustment to the Alberta Automobile Insurance Rate Board (AIRB)
June 14, 2012 by Canadian UnderwriterCLARIFICATION: Canadian Underwriter initially reported on June 14 that Oilver Wyman suggested a 4.7% rate adjustment in 2011. In fact, Oliver Wyman recommended a 9% adjustment in 2011. In its final decision on an industry wide adjustment in 2011, the…
Hurricanes put $700 billion of U.S. residential property at risk
June 14, 2012 by Canadian UnderwriterThe threat of hurricanes, particularly storm surges, extends far beyond the Gulf Coast to heavily populated U.S. eastern seaboard states, creating a total property exposure of more than $700 billion, according to research firm CoreLogic. The U.S.-based research firm recently…
Quebec insurers’ results exceeding historical returns despite lower profits in 2011: AMF
June 14, 2012 by Canadian UnderwriterQuebec’s regulatory and oversight body for the financial sector points to a favourable trend continuing despite automobile insurers achieving lower profits on premiums written in 2011 than in 2010. Despite lower profits, insurers are maintaining results that exceed historical returns…
Aviva Canada introduces portfolio transfer solution
June 14, 2012 by Canadian UnderwriterBrokers transferring business to Aviva Canada can now use a software platform from iter8 designed to reduce time and effort. The communic8 service will allow a broker management system to identify policies for upload, which are then transported to Aviva…
Senior appointments announced at Crawford & Company (Canada)
June 14, 2012 by Canadian UnderwriterCORRECTION: Canadian Underwriter incorrectly identified Pat Van Bakel as the company’s CEO in the original version of this story. Pat Van Bakel is the company’s chief operating officer. The error is corrected below and Canadian Underwriter apologizes for the error. …
ACE Canada Launches BrokerPass(SM) – Streamlined Global Policy Placement for Canadian Brokers
June 14, 2012 ACE CanadaTORONTO, June 14, 2012 – ACE Canada, the Canadian-based operating division of the ACE Group, today introduced an easy-to-use option for Canadian brokers to coordinate placement of local admitted insurance policies. This efficient and seamless application benefits ACE’s brokers and…
Industrial utility vehicles in B.C. no longer need to be registered, insured under certain circumstances
June 13, 2012 by Canadian UnderwriterIndustrial utility vehicles (IUVs), miniature motor vehicles used in parades and beverage carts for golf courses no longer need to be registered, licensed and insured by the Insurance Corporation of British Columbia (ICBC) under certain circumstances. This change to British…
“Hail only” centre to open in Manitoba following storm to address vehicle damage claims
June 13, 2012 by Canadian UnderwriterManitoba Public Insurance (MPI) will open a special hail claim centre tomorrow in the wake of Winnipeg being pummelled by ice pellets on June 9. The centre will be dedicated to “hail only” estimating for individuals whose vehicles sustained damage…
Arbitrator finds “semblance of relevance” test is too low for production of Facebook photos in dispute resolution hearings
June 13, 2012 by Canadian UnderwriterAn Ontario arbitrator has dismissed the appeal of an order for a claimant to produce photos from her Facebook account, but in doing so, the arbitrator rejected the “semblance of relevance” test for producing photos from social networking sites. In…
Three-quarters of U.S. employees don’t think their employers are prepared for a natural catastrophe: FM Global survey
June 13, 2012 by Canadian UnderwriterThree-quarters of U.S. employees feel their employers are not well prepared for a natural disaster, an FM Global survey has found. Conducted in May 2012, the national study commissioned by FM Global included 1,364 respondents. Eight hundred and forty-seven employees…
Disaster Kleenup Canada comes full circle with new executive appointments
June 13, 2012 by Canadian UnderwriterDisaster Kleenup Canada (DKC) has appointed Ken Tucker as its CEO and Ken Zardo as vice president of sales and marketing. The company says the new leadership represents the company coming around “full circle.” “There is not a more appropriate…