Canadian Underwriter

Topic
Insurance


News InsuranceMergers and Aqcuisitions

IBC applauds Canada’s proposed new legislation to combat auto theft

April 21, 2009 by Canadian Underwriter

The Government of Canada is proposing to crack down on auto theft, by creating a separate offence of “theft of a motor vehicle” that would carry a mandatory prison sentence of six months for three or more convictions.The proposed new

News InsuranceMergers and Aqcuisitions

Insurers, trial lawyers lock horns over New Brunswick’s minor auto injury cap

April 20, 2009 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has rejected the contention of the Canadian Bar Association (CBA) that New Brunswick’s cap on minor auto injuries should be removed.In particular, IBC has challenged any assertion that bodily injury claims costs were not

News Insurance

“Few signs” that commercial premiums will increase sharply in short term: RIMS survey

April 20, 2009 by Canadian Underwriter

Amid an unprecedented economic crisis in the United States, insurance premiums for businesses continued to slide towards a “soft landing” rather than spike upwards in the form of rate increases, according to the 2009 First Quarter RIMS benchmark Survey.“While banks

News Insurance

What’s New: In Brief (April 20, 2009)

April 20, 2009 by Canadian Underwriter

The Generation Group, an integrated communication and technology company headquartered in Montreal, has just acquired the exclusive distribution rights in North America and China for a Customer Experience Management (CEM) solution created by Boxalino, a Swiss company, using technologies driven

News Insurance

What’s New: In Brief (April 20, 2009)

April 20, 2009 by Canadian Underwriter

The American Institute for CPCU/Insurance Institute of America has joined with the Risk and Insurance Management Society (RIMS) to develop a new course entitled Enterprise-wide Risk Management (ERM): Developing and Implementing.The course is to be offered through the Center for

News InsuranceMergers and Aqcuisitions

AIG agrees to sell its U.S. auto insurance business to Zurich for US$1.9 billion

April 17, 2009 by Canadian Underwriter

American International Group Inc. (AIG) has agreed to sell its 21st Century Insurance Group, comprising AIG’s U.S. personal auto insurance business, to Farmers Group, Inc. (FGI), a subsidiary of the Zurich Financial Services Group (Zurich).Under the terms of the transaction,

News Insurance

What’s New: In Brief (April 17, 2009)

April 17, 2009 by Canadian Underwriter

Insurance Brokers Association of Ontario (IBAO) has partnered with the Ontario Association of Chiefs of Police (OACP) for its 2009 Crime Prevention Program.The 2009 program will see 25,000 educational booklets handed out across the province by police officers in an

News Insurance

Moody’s downgrade outlook for U.S. commercial property and casualty sector

April 17, 2009 by Canadian Underwriter

Moody’s Investors Service has revised its outlook for the U.S. commercial lines insurance sector to negative from stable.The downgrade is based on a “confluence of factors,” including intensified stress on insurers’ investment portfolios and financial inflexibility arising from capital market

News InsuranceMergers and Aqcuisitions

FSCO in 2009 Q1 approves average auto rate increase of +0.95%

April 17, 2009 by Canadian Underwriter

Auto rate applications approved by the Financial Services Commission of Ontario (FSCO) for 2009 Q1 averaged +0.95% based on the entire market. In 2009 Q1, the average rate change was +3.09% for the 30.91% of the market that had approved

News Climate ChangeInsuranceMergers and Aqcuisitions

Housekeeping, home maintanence claims not subject to threshold: Ontario court

April 16, 2009 by Canadian Underwriter

Auto accident claims for housekeeping and home maintenance expenses in Ontario are not subject to the province’s legislative threshold that restricts payments only to those claimants who suffer from “serious and permanent” impairments, the Ontario Superior Court of Justice has

News InsuranceMergers and Aqcuisitions

Drive-by shooting injury not covered by auto policy

April 16, 2009 by Canadian Underwriter

A catastrophically injured victim of a drive-by shooting is not entitled to coverage under the OPCF 44R–Family Protection Coverage Endorsement, the Ontario Court of Appeal has ruled.Louise Russo walked into a Toronto-area sandwich shop in 2004, when a van with

News Insurance

Many insurers relying on stale information to manage risks; study finds

April 16, 2009 by Canadian Underwriter

Many insurers manage risk using stale, outdated reports and information, a study by the London-based Economist Intelligence Unit found.In 2008 Q4 and 2009 Q1, the EIU surveyed 446 senior executives from 10 industries around the world about their views on