Topic
Insurance
Adjusters added to list of in-demand occupations by Immigration Canada
July 27, 2010 by Canadian UnderwriterInsurance adjusters and claims examiners have been added to the list of occupations on the Federal Skilled Worker program. The program identifies occupations in Canada that are considered in-demand or high-need. Should an immigrant have at least one year of…
Woman “struck by” pole protruding from parked vehicle is entitled to coverage: Ontario Appeal Court
July 26, 2010 by Canadian UnderwriterA woman who suffered a serious head injury after hitting her head on a pole protruding from an unidentified, parked truck is covered by her own insurer’s policy, even though the truck was not moving at the time, the Ontario…
HCAI preparing for Ontario auto reforms
July 26, 2010 by Canadian UnderwriterHealth Claims for Auto Insurance (HCAI), Ontario’s new electronic system for submitting auto insurance forms, is now preparing to process documents related to the province’s new auto insurance reforms.“Auto reform requirements were solidified, and the development of the functionality for…
Surveillance for evidence collection does not fall under privacy law: Federal Court
July 26, 2010 by Canadian UnderwriterUsing surveillance to help mount a defence in a civil legal action is not a “commercial activity” under Canada’s privacy law and is therefore not bound by the Personal Information Protection and Electronic Documents Act (PIPEDA), the Federal Court of…
Manitoba calls for fraud endorsement in brokers’ E&O insurance
July 23, 2010 by Canadian UnderwriterManitoba licensed insurance agents are now required to have an endorsement that covers fraud and dishonest acts as part of their mandatory errors and omissions insurance.The amendment to the Insurance Agents & Adjusters Regulation was implemented on May 31, 2010,…
Tropical Storm Bonnie heads in direction of BP oil spill
July 23, 2010 by Canadian UnderwriterTropical Storm Bonnie is churning towards the Gulf of Mexico, putting the clean-up efforts of the BP oil spill on hold. Bonnie is the second named storm of the 2010 Atlantic Hurricane season. The storm system will make its way…
Chubb reports an “unusually high” level of cat losses in 2010 Q2
July 23, 2010 by Canadian UnderwriterThe Chubb Corporation [NYSE: CB]’s results in 2010 Q2 reflected a big catastrophe hit of $193 million, a huge jump from the $43 million in losses in 2009 Q2. “The $193 million reflects the impact of numerous storms throughout the…
Canada’s inflation rate slows down in June
July 23, 2010 by Canadian UnderwriterCanada’s inflation rate slowed to 1% in the 12 months to June 2010, following a 1.4% increase in May. The inflation rate is determined by the Consumer Price Index (CPI), which measures the pricing of selected, typical consumer goods and…
Professional services and transportation expense guidelines updated
July 22, 2010 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has released new guidelines to reflect the reforms under the Statutory Accident Benefits Schedule. The revised Professional Services Guideline caps fees for completion and submission of forms at $200.The Transportation Expense Guideline applies…
Managing claims costs top priority for risk and finance managers: Towers Watson survey
July 22, 2010 by Canadian UnderwriterThe corollary effects of the global financial crisis – featuring dramatically downsized staffs and reduced budgets – on the total cost of risk is a major concern for corporate risk and finance managers, according to a Towers Watson survey. Retained…
Police-reported crime rates down in 2009: Statistics Canada
July 22, 2010 by Canadian UnderwriterPolice-reported crime in Canada continued to decline in 2009, according to a new study released by Statistics Canada.“Nearly 2.2 million crimes were reported to police in 2009, about 43,000 fewer than in 2008,” Statistics Canada says. “Overall, three property crimes…
Banks’ customer satisfaction ratings increase in 2010
July 22, 2010 by Canadian UnderwriterAs insurance brokers prepare once more to negotiate with the government about the mandatory Bank Act review, customer satisfaction related to banks’ specialized accounts for borrowing, investment and insurance “has improved notably in 2010,” according to a study by J.D.…