Topic
Insurance
What’s New: In Brief (September 18, 2008)
September 18, 2008 by Canadian UnderwriterPPG Automotive Refinish has been named a preferred supplier by Volvo Car Corporation for its worldwide network of dealerships and independent collision centers. The designation includes PPG’s waterborne Envirobase High Performance and Nexa Autocolor Aquabase Plus.Volvo’s objective is to provide…
Canadian P&C market outlook is stable, but with challenges
September 18, 2008 by Canadian UnderwriterThe Canadian property and casualty industry is stable, but not without its challenges, delegates of the A.M. Best Review & Preview Canada conference were told.In his presentation, Charles M. Huber, a senior financial analyst with A.M. Best, offered a rating…
Economic volatility could breed investment opportunities
September 18, 2008 by Canadian UnderwriterThe economy is still in the very early stages of a deleveraging process that needs to play out, spurred by the recent liquidity crunch that saw the stumbling of insurer giant AIG, delegates of A.M. Best’s Review & Preview Canada…
U.S. government loans AIG US$85 billion
September 17, 2008 by Canadian UnderwriterWith the full support of the U.S. Treasury Department, the Federal Reserve Bank of New York loaned the American International Group (AIG) US$85 billion on Sept. 16 to keep the country’s largest insurer solvent.AIG’s stock dropped to less than US$3…
Lawyer ordered to pay costs after client doesn’t show up to three pre-hearing discussions about benefits
September 17, 2008 by Canadian UnderwriterAn Ontario arbitrator has upheld a personal cost award against a lawyer who could not get his client to attend three different scheduled pre-hearing discussions concerning an accident benefits claim.The lawyer’s client, Roman Luskin, was injured in a 2005 motor…
Companies divulge exposure to Lehman Brothers and AIG
September 17, 2008 by Canadian UnderwriterKingsway, Swiss Re and Manulife Financial have a combined exposure of more than Cdn$1 billion to global investment bank Lehman Brothers and subsidiaries of American International Group (AIG), both of which face insolvency, based on individual public statements the company…
What’s New: In Brief (September 17, 2008)
September 17, 2008 by Canadian UnderwriterMarine insurers are concerned some shipyards may be compromising quality to increase production, according to BestWire.There’s some indication the increasing cost of steel might be forcing shipyards in certain countries to cut back on the quality of steel used in…
What’s New: In Brief (September 16, 2008)
September 16, 2008 by Canadian UnderwriterICBC has launched a free online service that allows customers to look up a vehicle’s status, helping them to make informed buying decisions about used vehicles. All vehicles in North America are assigned a status to describe the general state…
Canadian and U.S. litigation trends growing more and more similar
September 16, 2008 by Canadian UnderwriterPrivate companies in Canada and the United States are facing similar trends in litigation based on legal actions launched by customers, shareholders, employees and business partners, a Chubb Insurance Company of Canada survey has found.“The survey findings were surprising, as…
What’s New: In Brief (September 16, 2008)
September 16, 2008 by Canadian UnderwriterE2Value Inc. has inked an agreement with Compu-Quote Inc. to deploy and provide access to the eValueMCV cost engine and methodology.Beginning in September 2008, Compu-Quote will distribute the ezITV insurance to value application to insurance brokers across Canada, a Compu-Quote…
Where the parties stand on cross-pillar mergers
September 16, 2008 by Canadian UnderwriterRemoving a de facto ban on allowing cross-pillar mergers between banks and insurance companies is “not a priority” for the Conservative Party of Canada.The Liberal Party of Canada says it would analyze the possibility of such mergers on an individual…
CIAA inaugurates new president
September 15, 2008 by Canadian UnderwriterReno Daigle was inaugurated as president of the Canadian Independent Adjusters’ Association this past Saturday at Dalvay By the Sea in Prince Edward Island. “It is with pleasure that I pass to you the gong of office,” Fred Plant, immediate…