Topic
Insurance
FSCO reserves decision on awarding costs against paralegal pursuing an AB arbitration on behalf of his deceased client
February 24, 2012 by Canadian UnderwriterA Financial Services Commission of Ontario (FSCO) arbitrator in an accident benefits case has reserved a final decision on whether to award costs against a paralegal who brought an application for arbitration on behalf of his client — apparently without…
FSCO to host webinar on rate filing
February 24, 2012 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) is holding a webcast to raise awareness of the rate filing process requirements on Mar. 5, 2012. The free webcast will be available in French and English. It will take participants through the…
Desjardins P&C segment reports 25.5% increase in total income
February 24, 2012 by Canadian UnderwriterDesjardins Group’s Property and Casualty Insurance segment reported a total income of $2.04 billion in 2011, a 25.5% increase over 2010’s total income. The company cites a $261-million increase in net premiums as a contributing factor for the increase in…
Metal and wire theft is on the increase: City of Surrey, B.C.
February 24, 2012 by Canadian UnderwriterMetal theft, including the theft of copper wiring, is a growing problem, according to the City of Surrey, B.C. “Both local and international supply and demand strongly influence wire and metal theft,” the City of Surrey says in a post…
Swiss Re reports increase in 2011 net income, despite impact of natural catastrophes
February 24, 2012 by Canadian UnderwriterCORRECTION: In a news item posted on Feb. 23, Canadian Underwriter incorrectly stated that Swiss Re’s 2011 net income declined, when it had in fact increased. Canadian Underwriter apologizes for making this error, and the item below includes the correct…
RSA launches app for home and auto customers
February 23, 2012 by Canadian UnderwriterRSA Canada has launched a mobile app that offers both home and auto claim reporting. The app is available on BlackBerry, iPhone and Android platforms. With it, RSA customers can report a home or auto claim, locate their broker, access…
Zurich Canada simplifies access to equipment breakdown coverage
February 23, 2012 by Canadian UnderwriterCORRECTION: The following item, posted on Feb 23, initially contained incorrect information, for which Canadian Underwriter apologizes. The following item contains the corrected information. Zurich Canada has added a new online portal that gives brokers access to builders’ risk and…
The Economical grows net income by 11.9% in 2011
February 23, 2012 by Canadian UnderwriterThe Economical Insurance Group posted a net income of $91 million for 2011, marking an 11.9% increase over the 2010 net income of $81.3 million. The insurer’s combined ratio improved from 102.9% in 2010, to 98.1% in 2011. Underwriting results…
Insured water losses in Nova Scotia double over four years: IBC
February 23, 2012 by Canadian UnderwriterInsured water losses in Nova Scotia almost doubled over four years, increasing from more than $20 million in 2005 to more than $38 million in 2009. Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), presented this information…
Toronto police arrest 37 people and lay 130 charges following insurance fraud ring investigation
February 23, 2012 by Canadian UnderwriterToronto Police have arrested 37 people and laid 130 charges in connection with Project Whiplash, an investigation into an alleged insurance fraud ring that resulted in insurance payouts totaling $4 million. Police say the ring featured staged auto collisions, false…
Global Content Solutions (GCS) opens new facility in Woodstock, Ontario
February 23, 2012 by Canadian UnderwriterGlobal Content Solutions (GCS) has opened a state-of-the art content restoration facility in southern Ontario. GCS is holding an open house at the new facility between 1 p.m. and 4 p.m. on Feb. 29. The location is 1280 Seagrave Rd,…
Canada can expect to see more intense wildfires in the future: scientist
February 22, 2012 by Canadian UnderwriterCanadians can anticipate more intense wildfires that are too difficult to stop using traditional fire fighting techniques, according to Mike Flannigan, a senior research scientist with Natural Resources Canada. Flannigan presented his team’s latest research in Vancouver at the annual…