Topic
Insurance
What’s New: In Brief (February 01, 2008)
February 1, 2008 by Canadian UnderwriterGenworth Financial Canada has named a Grade 6 student from Edmonton the winner of its national writing contest, “Habitat for Humanity Meaning of Home.”Marissa Nahirney was selected as the top contestant from more than 1,900 entries a Genworth release says.A…
Ledger’s death brings focus to coverages for key players in film productions
February 1, 2008 by Canadian UnderwriterThe sudden death of Brokeback Mountain movie star Heath Ledger occurred while he was in the midst of filming a new movie, focussing attention on a little-discussed aspect of the insurance industry coverage for the incapacity of an actor or…
What’s New: In Brief (February 01, 2008)
February 1, 2008 by Canadian UnderwriterEmployees of the Vancouver Gore Mutual office have received the Community Spirit Award for Best Employee Campaign in 2007 at the United Way Spirit Award Celebration. “This year, our United Way campaign donations increased by 46% and, with 90% employee…
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”…