Topic
Insurance
Ontario auto insurance rates increased in 2009 Q4: Kanetix
January 13, 2010 by Canadian UnderwriterThe lowest auto insurance rates quoted by Kanetix in Q4 2009 increased on average 5.3% when compared to the same period of 2008.The increase, consistent with rate changes previously approved and announced by Ontario’s auto insurance regulator, means drivers should…
Insurance industry counsels Alberta not to prohibit exclusion of claims for fire following terrorist events
January 12, 2010 by Canadian UnderwriterCanada’s property and casualty insurance industry is “strongly cautioning” the Alberta government to scrap a proposal that would prohibit insurers from excluding claims for fire damage following terrorist or earthquake events.Primary insurers would run a higher risk of insolvency if…
MPI profits increase in 2009, based on rebound in investment markets
January 12, 2010 by Canadian UnderwriterManitoba Public Insurance (MPI) has a reported net income of $32.1 million for the nine months ended Nov. 30, 2009, compared to a net income of $1.8 million for the same period of 2008. The improvement was achieved in part…
What’s New: In Brief (January 12, 2010)
January 12, 2010 by Canadian UnderwriterJohn Tagle has been appointed senior vice president of national sales and business development at ClaimsPro, an SCM company.Tagle will be responsible for the augmentation of strategy and implementation of plans at ClaimsPro, leading sales and business development.In addition, Ian…
OSFI posts 14 principles guiding the development of a new capital framework
January 12, 2010 by Canadian UnderwriterCanada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), has posted 14 high-level principles to guide the development of a new capital framework for property and casualty insurers. OSFI says the principles are intended to encourage the…
A.S.A.P. Secured Inc. Revolutionizes Accident/Disaster Reporting with a First-ever Mobile Command Centre for Ontario Insurance Personnel
January 12, 2010 Canadian Underwriter magazineTORONTO, January 12, 2010 – A.S.A.P. Secured, Inc., a Canadian leader in disaster and fire scene security, has launched a revolutionary Mobile Command Centre for easy deployment at large loss sites across Ontario. This new centre will allow adjusters and…
Third time not a charm when disclosing limitation periods in Alberta: Insurance industry
January 11, 2010 by Canadian UnderwriterInsurers generally agree with the Alberta insurance regulator that disclosure of limitation periods to litigate a claim should be “transparent” and “fair,” but a general industry consensus has evolved that requiring an insurance company to notify a claimant about the…
Painful symptoms alone not sufficient to claim non-earner benefits: Ontario court
January 11, 2010 by Canadian UnderwriterPainful symptoms that interfere with a person’s post-accident activities are not sufficient to entitle claimants to non-earner benefits — particularly in circumstances when there is a pre-existing medical condition, Ontario’s arbitrator has ruled. In Jasmin Mangallon and TTC Insurance Company…
HCAI in stable condition: IBC
January 11, 2010 by Canadian UnderwriterThe Health Claims for Auto Insurance (HCAI) system is stable, with no new processing issues identified, according to Insurance Bureau of Canada. The HCAI pilot was re-launched on Sept. 28, 2009, with two insurers and nine health care facilities. After…
U.S. P&C industry sees increase in net income
January 11, 2010 by Canadian UnderwriterThe net income of U.S. private property and casualty insurers after taxes rose to $16.2 billion through nine-months 2009, according to the Insurance Services Office (ISO) and the Property Casualty Insurers Association of America (PCI).This represents a partial recovery from…
Reinsurance renewals indicate “disciplined” softening
January 8, 2010 by Canadian UnderwriterThe global reinsurance market is in a state of “disciplined softening,” according to Willis Re.The assessment of the state of the marketplace stems from the Jan. 1, 2010 renewals, which saw measured premium rate reductions, a release says.“Despite global economic…
International Organization for Standardization releases risk management standard
January 8, 2010 by Canadian UnderwriterA new international standard for risk management, ISO 31000, has been developed and released.Any public, private or community enterprise, association, group or individual can use ISO 31000. It is not specific to any industry or sector and is intended to…