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Hours of work Canadians lost due to H1N1 in November 2009 is comparable to Ontario’s 2003 power outage: StatsCan

January 20, 2010 by Canadian Underwriter

The impact of H1N1 and seasonal flu on hours lost at work was comparable to that of the Ontario-U.S. power outage in August 2003, StatsCan reported in a recent study, Impact of H1N1 and seasonal flu on hours worked.In November

News Climate ChangeInsurance

Short-term hurricane loss models ineffective: Karen Clark & Company

January 20, 2010 by Canadian Underwriter

Insured losses resulting from hurricanes cannot be predicted on a short-term horizon, says Karen Clark & Company.Near-term models, designed to project insured losses from Atlantic hurricanes in the United States for the five-year period ending in 2010, have significantly overestimated

News Climate ChangeInsurance

Southeast region of United States most vulnerable to 2010 tropical cyclones: Guy Carpenter

January 20, 2010 by Canadian Underwriter

The southeast region of the United States is most vulnerable to tropical cyclones coming ashore in 2010, according to the January update of Guy Carpenter’s GC ForeCat. The forecasted landfall rate of tropical cyclones in the southeast region (the coastline

News InsuranceLegal

Gen Re pays $12.2 million to settle SEC charges related to 2000-02 finite reinsurance deals

January 20, 2010 by Canadian Underwriter

General Re Corporation has agreed to pay $12.2 million to settle charges by the Securities Exchange Commission (SEC) related to separate schemes by American International Group (AIG) and Prudential Financial, Inc. to manipulate and falsify reported financial results in 2000-02.According

insPRESS Insurance

SPECS Limited Opens New Branch Office in Sudbury ON

January 20, 2010 SPECS (Specialized Property Evaluation Control Services)

Edmonton, AB January 20, 2010 SPECS Limited, the countrys leading provider of independent property damage valuations and cost control services has opened a new office in Sudbury, ON. The strategic location and the placement of Bill Goulding, Branch Manager, whose

insPRESS Insurance

Food & Beverage Hazard Analysis

January 20, 2010 The Property Casualty Underwriters Club (PCUC)

Please join us on February 24, 2010 for an in depth look into the various hazards of the food & beverage manufacturing industry. We look forward to exploring the risk management practices through the insightful evaluations of Mr. Steven Sanfilippo,

insPRESS Insurance

10 New Online Photo Gallery updates now live at canadianunderwriter.ca

January 20, 2010 Canadian Underwriter magazine

10 new industry event galleries have been added to the Online Photo Gallery at canadianunderwriter.ca. To view all the galleries, at canadianunderwriter.ca click Photo Gallery in the nav bar or go to www.canadianunderwriter.ca/gallery The recent additions to the Online Photo

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

FSCO approves average auto rate increase of 2.49% in 2009 Q4, based on entire market

January 19, 2010 by Canadian Underwriter

Ontario’s insurance regulator has approved a 2009 Q4 auto insurance rate increase of 2.49%, based on the entire market.In the fourth quarter of 2009, for the 55.48% of the province’s auto insurance market that had rate changes approved, the average

News InsuranceMergers and Aqcuisitions

Insurance contract to pay accident benefits not “a contract for peace of mind”: Ontario judge

January 19, 2010 by Canadian Underwriter

The daughter of a woman who was injured in an auto collision and subsequently denied accident benefits is not entitled to collect benefits under her mother’s policy based on the loss of her mother’s care and guidance, the Ontario Superior

News Insurance

Fraud likely to increase three-fold following the recession: Lloyd’s

January 19, 2010 by Canadian Underwriter

The amount lost to fraud by businesses and the public sector increased by 76% in 2009, with both number and size of fraud increasing exponentially during the recession, according to research by BDO LLP. Fraud broke the £2-billion (Cdn $3.8-billion)

News Insurance

Global risks persist despite reports of economic recovery

January 19, 2010 by Canadian Underwriter

The long shadow of the global economic recession has created underlying risks in the global economy that persist despite reports of an economic recovery, according to the World Economic Forum (WEF)’s annual report, Global Risks 2010.The fifth annual report is

News InsuranceMergers and Aqcuisitions

Nova Scotia presses ahead with its review of minor auto injury cap

January 18, 2010 by Canadian Underwriter

Nova Scotia’s government is moving ahead with its promised review of the province’s $2,500 minor auto injury cap.The government has issued a nine-page discussion paper on the cap, entitled Concerning the Cap on Pain and Suffering Awards for Minor Injuries,