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Ontario arbitration case may have widened definition of ‘catastrophic impairment’

February 4, 2010 by Canadian Underwriter

Ontario’s definition of a “catastrophic impairment” may have widened as a result of a recent decision by the Financial Services Commission of Ontario, lawyers are saying about the case of Aviva and Pastore.In Aviva and Pastore, a FSCO director delegate

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Uncertain legal status for a new method of calculating income loss after breadwinner’s death: lawyer

February 4, 2010 by Canadian Underwriter

A newer method of calculating loss of income in the event of a breadwinner’s death could save defense costs, said Jamie Dunn, partner at Blouin Dunn LLP.The method is used in situations in which both spouses or partners are breadwinners

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What’s New: In Brief (February 04, 2010)

February 4, 2010 by Canadian Underwriter

Cunningham Lindsey Canada has expanded its Ontario operation with the opening of a new office in Cornwall.Diane Lefebvre will serve as branch manager. She was most recently an adjuster in CLC’s Ottawa location.Lefebvre brings more than a decade of claims

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (February 03, 2010)

February 3, 2010 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) has launched a social media campaign featuring a new blog and Twitter account.IBAO’s goal with the campaign is to further develop and empower its community of brokers to better educate consumers and media

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Re/insurers in “the cheating years” of using reserves to boost results: Guy Carpenter

February 3, 2010 by Canadian Underwriter

Having just come through a worldwide financial crisis, global reinsurers are once again entering “the cheating years,” describing a cycle in which insurance companies employ reserve funds to bolster their combined ratios, and thus boosting their return on equity (ROE)

News InsuranceLegalMergers and Aqcuisitions

Changes to Rules of Civil Procedure create new opportunity for AB litigation

February 3, 2010 by Canadian Underwriter

More accident benefits (AB) claimants will likely find themselves in small claims court as a result of the Jan. 1, 2010 changes to Rules of Civil Procedure, said Kadey Shultz, an associate at Hughes Amys, LLP.Shultz spoke on recent decisions

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Re/insurers ponder what to do with capital that is returning to the market “with a vengeance”

February 3, 2010 by Canadian Underwriter

Capital has come back to the global re/insurance market “with a vengeance” in 2009, and the debate is on as to whether companies will try to reduce some of their capital through share buybacks or mergers and acquisitions activity in

News InsuranceLegal

Claims industry at odds with Privacy Commissioner over masking of third parties in surveillance video

February 2, 2010 by Canadian Underwriter

A recent guideline issued by the Office of the Privacy Commissioner of Canada states that third parties must be blurred out in surveillance footage. The OPC published guidelines on covert surveillance in the private sector in May of 2008. By

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RIMS opposes bid to withdraw $250 million from terrorism insurance backstop program

February 2, 2010 by Canadian Underwriter

The Risk and Insurance Management Society (RIMS) is publicly opposing two aspects of the Obama Administration’s budget blueprint.Specifically, RIMS opposes a budget proposal to roll back the government’s terrorism insurance backstop by $250 million.Secondly, it is concerned about a proposal

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CSA reports decrease in enforcement activities for 2009

February 2, 2010 by Canadian Underwriter

Canadian Securities Administrators (CSA) commenced 124 securities proceedings in 2009, marking a decrease from the 171 proceedings commenced in 2008, according to the CSA’s 2009 Enforcement Report.The 124 matters were commenced against a total of 154 individuals and 112 companies.The

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Munich Re forecasts surge in 2009 profits

February 2, 2010 by Canadian Underwriter

Munich Re increased its 2009 profit to €2.56 billion (about Cdn$3.78 billion), marking an increase from 2008’s profit of €1.58 billion, according to the reinsurer’s preliminary calculations.The profit for 2009 Q4 was €780 million (about Cdn$1.15 billion), marking an increase

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PCUC 5th Annual Curling Bonspiel – still time to register but almost sold-out, so register today!

February 2, 2010 The Property Casualty Underwriters Club (PCUC)

Attention all curlers! The PCUC committee would like to invite you to join us and your colleagues this coming March 12th for the PCUC 5th Annual Curling Bonspiel. The details were released approximately two weeks ago and we are already