Canadian Underwriter

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News Insurance

Mid-sized insurers riding market cycles better than smaller and larger counterparts

July 14, 2008 by Canadian Underwriter

Few U.S. property and casualty insurers excel at managing through market cycles, but mid-sized insurers (surplus between US$10 million and US$100 million) seem to be better at it than their small and larger-sized counterparts, a special report by A.M. Best

News Insurance

Insurer has obligation to defend, Ontario Superior Court finds

July 11, 2008 by Canadian Underwriter

Liberty International Underwriters Canada and ACE INA Insurance have been ordered to share the ongoing defence costs incurred by St. Marys Cement Company Inc. on a 50-50 basis, according to an endorsement by the Ontario Superior Court of Justice. St.

News InsuranceMergers and Aqcuisitions

B.C. Court of Appeal finds insurer negligent in duty of care

July 11, 2008 by Canadian Underwriter

B.C.’s Court of Appeal has ruled that ICBC owes a duty of care to advise the legal guardian of a claimant of the claimant’s entitlement to accident benefits and of any limitation on his entitlement.In McIlvenna (litigation guardian of) v.

News Climate ChangeInsurance

Scientists a step closer to the possibility of predicting earthquakes

July 10, 2008 by Canadian Underwriter

Scientists have measured changes in the speed of seismic waves that preceded two small earthquakes by 10 and two hours, allowing them to further develop a technique to predict future quakes, reports the Carnegie Institution for Science.“Detecting stress changes before

News Insurance

What’s New: In Brief (July 10, 2008)

July 10, 2008 by Canadian Underwriter

RSA is offering a second term of its Making Partner Program in January 2009.The program has been designed in conjunction with the Executive Development Centre at Queen’s School of Business to provide customized senior management leadership and business skills to

News Climate ChangeInsurance

Insured US cat losses in first half of 2008 eclipse 2007 total

July 9, 2008 by Canadian Underwriter

Insured catastrophe losses in the United States for the first half of 2008 already exceed the total cat losses for 2007, according to a joint Webinar hosted by the Insurance Information Institute (III) and Munich Re Group.At this rate, 2008

News InsuranceMergers and Aqcuisitions

Insurer not responsible for retraining costs, FSCO rules

July 9, 2008 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has ruled that an insurance company is not responsible for re-training a claimant on the basis that the learning program was more insight-oriented than vocational and rehabilitative. FSCO additionally dismissed claims for income

News InsuranceMergers and Aqcuisitions

Court of Appeal upholds stay in Alberta minor injury cap case

July 8, 2008 by Canadian Underwriter

The Court of Appeal in Alberta has denied an application by State Farm Insurance Company for a stay of the judgement that eliminated the Cdn$4,000 cap on non-pecuniary damages for minor injuries caused by a motor vehicle accident. In Morrow

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (July 08, 2008)

July 8, 2008 by Canadian Underwriter

York Fire & Casualty Insurance has appointed Lori Corrigan to the position of vice president and COO.Corrigan brings to the post more than 20 years of insurance industry experience, from both a company and broker perspective, says a York Fire

News Insurance

What’s New: In Brief (July 07, 2008)

July 7, 2008 by Canadian Underwriter

The Women in Insurance Cancer Crusade (WICC) has received a Cdn$1,000 personal donation, symbolizing the first WICC Tribute donation. The WICC Tribute is an initiative developed by WICC Ontario, giving industry members a tangible and meaningful way to commemorate colleagues

News Climate ChangeInsuranceMergers and Aqcuisitions

Bertha fires opening shot of 2008 hurricane season

July 7, 2008 by Canadian Underwriter

Hurricane Bertha, the first hurricane of the Atlantic season, is also the first storm in recorded history to develop so far east so early in the season, according to Storm Exchange Inc., a firm specializing in weather-related risk management.Bertha was

News Insurance

ERM embraced at executive level by insurers, but hasn’t completely filtered down

July 4, 2008 by Canadian Underwriter

Despite the endorsement of enterprise risk management (ERM) by executive leaders of North American insurance companies, a full appreciation of ERM hasn’t fully filtered down within their organizations, a PricewaterhouseCoopers study has found.“Despite progress at the top, the study found