Topic
Insurance
Subrogation in fire cases
November 13, 2009 by Canadian UnderwriterThe evidence of what causes a fire is generally consumed in the fire, Richard Lindsay, founding partner of Lindsay Kenney LLP in British Columbia, said. This makes subrogation a little different in a fire-related case, he told delegates attending the…
What’s New: In Brief (November 13, 2009)
November 13, 2009 by Canadian UnderwriterDavid Koa has been appointed executive vp, sales and marketing for McLarens Canada.Koa will also be responsible for the sales and marketing of Granite Global Solutions Inc. of which McLarens Canada is one of six member companies.Koa holds more than…
ICBC reports decline in Q3 net income
November 12, 2009 by Canadian UnderwriterICBC’s net income for the first nine months of 2009 was Cdn$422 million, down Cdn$15 million from the same period last year.Total claims and expenses increased from Cdn$2.6 billion in the first nine months of 2008 to Cdn$2.7 billion in…
What’s New: In Brief (November 12, 2009)
November 12, 2009 by Canadian UnderwriterInsurance adjusters will be centre stage when Showcase, a Canadian network, airs its first-ever, hour-long commissioned drama series Cra$h & Burn.Premiering on Nov. 18 at 9 p.m. (eastern/pacific time), the series follows the life of “street-wise” insurance adjuster Jimmy Burn,…
IBC urges insurers to talk to each other to prevent organized crime
November 12, 2009 by Canadian UnderwriterInsurance companies must recognize ‘red flags’ indicating the presence of organized crime and better co-ordinate communications between them when such signs arise, according to IBC investigator Kathy Metzger.Insurers must be vigilant in preventing organized crime, Metzger told delegates attending the…
What’s New: In Brief (November 12, 2009)
November 12, 2009 by Canadian UnderwriterAfter almost 17 years of sharing the management responsibilities for both the Insurance Councils of Saskatchewan (ICS) and the Insurance Brokers’ Association of Saskatchewan (IBAS), Ernie Gaschler will now begin devoting his entire time and energy to the activities of…
Privacy Commissioner’s authority questioned by insurer, private investigators
November 11, 2009 by Canadian UnderwriterInsurers and private investigators are challenging the authority of the Office of the Privacy Commissioner (OPC) to intervene in claims investigations.The insurance industry yielded 17% of the complaints lodged in 2008 under the Personal Information Protection and Electronic Documents Act…
BC expands regulations governing use of off-road recreational vehicles
November 11, 2009 by Canadian UnderwriterBritish Columbia off-road vehicle (ORV) riders will be required to wear a helmet, register their ORVs and display license plates when operating their vehicles on Crown land.The proposed new regulations would define ORVs as including dirt bikes, all-terrain vehicles and…
Transportation Safety Board cites risk management failures in review of 2007 private jet accident
November 11, 2009 by Canadian UnderwriterCritical risk management failures played a major part in a 2007 landing accident in Fox Harbour, Nova Scotia, where a Jetport private jet skidded off the runway and stopped close to neighbouring homes, injuring 10 passengers (two seriously), the Transportation…
Intact says summer storms contribute to 2009 Q3 loss of Cdn$8 million
November 11, 2009 by Canadian UnderwriterThanks in part to an unusual number of summer storms, Intact Financial Corporation (TSX: IFC) reported a net loss of Cdn$8 million in 2009 Q3, compared to a profit of Cdn$57.3 million in the same period last year.“While the pace…
Pirate attacks on the rise again
November 10, 2009 by Canadian UnderwriterAfter weather kept them onshore for a few weeks, Somali pirates have resumed their attacks on vessels in the Gulf of Aden. Global piracy statistics reveal that in the first nine months of 2009, 114 vessels were boarded, 34 vessels…
What’s New: In Brief (November 10, 2009)
November 10, 2009 by Canadian UnderwriterCrawford & Company (NYSE: CRDA and CRDB) reported a net loss of US$39.5 million in 2009 Q3, compared to a net income of US$6.9 million in 2008 Q3.The net loss includes a non-cash impairment charge of US$46.9 million, primarily related…