Topic
Insurance
Ontario arbitrator notes insurers must take more care in a post-DAC world
October 27, 2010 by Canadian UnderwriterAn Ontario arbitrator has granted a special award against an insurer that terminated income replacement benefits to a claimant, on the basis that the insurer uncritically relied on a vocational assessment that appeared to have been the product of what…
Granite Global Solutions announces board and executive appointments
October 27, 2010 by Canadian UnderwriterGranite Global Solutions Inc. – the holding company of McLarens Canada, Sibley & Associates, King Reed & Associates and Rochon Engineering – has announced a series of board and executive appointments.The appointments include:• John Chippendale, vice chairman of HKMB Hub…
Exclusivity agreement ends between Esporta Wash Systems Inc., WINMAR and Disaster Kleenup Canada
October 27, 2010 by Canadian UnderwriterEsporta Wash Systems Inc. no longer has an exclusivity agreement with WINMAR Property Restoration Specialists and Disaster Kleenup Canada (DKC).WINMAR and DKC signed an agreement with Esporta Wash Systems in 2007, giving the two Canadian restoration contractors exclusive rights to…
User group formed to help HCAI transition from a project into an operation
October 27, 2010 by Canadian UnderwriterHCAI has successfully processed more than 750,000 OCF forms and the system is nearing the end of its enrollment phase. HCAI moves from a project to an operation as of January 2011. In anticipation of this transition, an insurer user…
WINMAR and DKC Canadian Esporta Exclusivity Comes to an End
October 27, 2010 Canadian Underwriter magazineOctober 25, 2010 – Kelowna, BC – It was announced today that the Esporta Wash System exclusivity agreement with WINMAR Property Restoration Specialists and Disaster Kleenup Canada has come to an end. In 2007 WINMAR and DKC signed an agreement with…
OSFI calls on insurers’ actuaries to account for changes in estimated claims liabilities
October 26, 2010 by Canadian UnderwriterCanada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is requiring the actuaries of property and casualty insurance companies to account for changes in the insurers’ estimated claims liabilities.This change will affect the standard annual filing of…
Just a few steps separate slip-and-fall liability from accident benefits
October 26, 2010 by Canadian UnderwriterJust a few steps can mean the difference between a slip-and-fall case and auto insurance accident benefits payments, as illustrated in an arbitration decision issued by the Financial Services Commission of Ontario (FSCO).In Fee Nung Wong and St. Paul Fire…
Solvency II implementation likely to constrain regulatory capital: Willis Re
October 26, 2010 by Canadian UnderwriterThe impact of Solvency II will be “profound” on the (re)insurance market, as most companies will likely find their regulatory capital constrained for the first time, Willis Re reported.Though Solvency II is being implemented in Europe, Willis Re suggests its…
AMF launches proceedings against unlicensed firms distributing policies on behalf of “non-existent” insurer
October 26, 2010 by Canadian UnderwriterThe Autorité des marchés financiers (AMF) launched penal proceedings against Water Safety Services (WSS), International Water Safety Foundation (IWSF) and Alexandre Beaudoin Bonotto, president of WSS, for allegedly issuing insurance certificates without being licensed.An AMF investigation found that IWSF, a…
Move to more open licensing issuance in Saskatchewan may allow directs, banks to purchase brokerages: IBAS
October 25, 2010 by Canadian UnderwriterThe Insurance Brokers Association of Saskatchewan (IBAS) is anticipating a meeting with Tim McMillan, the minister responsible for Saskatchewan Government Insurance (SGI), about the government’s proposed plan to allow the province’s motorists to obtain licenses from agencies that do not…
Increased risk exposure for hospitality establishments that fail to prevent assaults: lawyer
October 25, 2010 by Canadian UnderwriterThere is an increasing risk exposure for larger commercial hospitality establishments that fail to prevent assaults, according to Lorne Folick, senior partner at Dolden Wallace Folick LLP.Folick, an insurance defence counsel in B.C., was discussing liquor liability, waivers and damage…
ACE marks 25th anniversary with global day of service
October 25, 2010 by Canadian UnderwriterACE Canada observed the 25th anniversary of its parent company, ACE Group, by participating in a global day of service.More than 7,500 ACE employees in 46 countries participated in more than 200 volunteer projects on Oct. 22.In Canada, ACE employees…