Topic
Insurance
Standard of proof high for denying auto accident benefits based on cospiracy to defraud
February 1, 2008 by Canadian UnderwriterInsurers seeking to deny auto accident benefits payments on the basis of an alleged conspiracy to defraud will have to meet a very high standard of proof, based on the Financial Service Commission of Ontario (FSCO)’s decision in a recent…
What’s New: In Brief (January 31, 2008)
January 31, 2008 by Canadian UnderwriterBerkshire Hathaway has taken a 3% stake in Swiss Re. The agreement included a proportional reinsurance contract, in which the US-based company will assume a 20% share of all Swiss Re’s P&C business for the next five years, according to…
City not liable for damage when horesplay results in broken plate glass window
January 31, 2008 by Canadian UnderwriterThe Ontario Superior Court ruled the City of Brantford was not liable for damages after two youths shattered the plate glass of the Brantford Civic Centre while engaging in horseplay.In Mott v. Brantford (City), the plaintiff, Bobby Joe Mott, had…
What’s New: In Brief (January 31, 2008)
January 31, 2008 by Canadian UnderwriterA.M. Best Co. has upgraded the financial strength rating to A+ (superior) from A (excellent) for Munich Re America Corporation Group and its member companies. The rating upgrade reflects “the significant level of support provided by MRAC’s ultimate parent, Munich…
Auto insurance policies should not cover punitive damages
January 30, 2008 by Canadian UnderwriterAn insured should not be able to seek coverage for punitive damages under their automobile policy, as the damage is intended to punish a wrongdoer, not compensate an injured person, Stephen G. Ross, of Rogers Partners LLP, told delegates at…
Ontario asbestos law could elevate claims costs if risks not mitigated
January 30, 2008 by Canadian UnderwriterNew Ontario regulations dealing with the handling of asbestos could affect insurers’ costs should asbestos be the subject of a claim.Regulation 278/05, which came into effect on Nov. 1, 2005 (the final two sections kicked in on Nov. 1, 2007),…
Benfield research quantifies influence of sea surface temperatures on hurricane activity
January 30, 2008 by Canadian UnderwriterScientists at the Benfield UCL Hazard Research Centre (BUHRC) have for the first time quantified the extent to which sea surface warming contributes to increased Atlantic hurricane activity.In a study published in the scientific journal Nature, professor Mark Saunders and…
What’s New: In Brief (January 30, 2008)
January 30, 2008 by Canadian UnderwriterThere’s a new insurance litigation boutique in Toronto called Thomas, Gold & Pettingill LLP.And if its roster of lawyers includes names recognizable from the insurance litigation section of Cassels Brock & Blackwell, that’s because seven of the lawyers in the…
Claims adjusters’ work hours moving from 9-5 to 24-7-365
January 29, 2008 by Canadian UnderwriterAs technology plays a bigger role in the claims process, the independent adjuster will increasingly be called upon to communicate at all times with members of the public and the insurance industry, potentially necessitating the advent of the “night shift”…
What’s New: In Brief (January 29, 2008)
January 29, 2008 by Canadian UnderwriterLosses in the directors and officers liability (D&O) portfolio due to the subprime crisis are expected to be in the neighbourhood of US$9 billion about triple what has been initially predicted, A.M. Best says in a report, citing equity analysts…
What’s New: In Brief (January 29, 2008)
January 29, 2008 by Canadian UnderwriterManitoba Public Insurance (MPI) is the target of an attempted fraud in which telephone solicitors offered to renew Autopac policies.People posing as telephone solicitors contacted several people in Southern Manitoba recently and offered to renew their Autopac policies, an MPI…
Insurers’ frugality may be undermining the insurance defence bar, CICMA/CIAA told
January 29, 2008 by Canadian UnderwriterInsurers, in trying to scrimp on litigation claims costs, may inadvertently be allowing the insurance defence bar to wither away on the vine, a senior member of the bar told members of the insurance industry attending the 41st annual CICMA/CIAA…