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Risk managers should become more involved in understanding digital risks: Lloyds

January 14, 2011 by Canadian Underwriter

Risk managers need to better understand how digital risks might affect their organizations and what they can do to mitigate them, according to a Lloyd’s 360 Risk Insight report.“Digital risks,” in this context, refers to the effects of natural disasters

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Privacy Commissioner reaches impasse with SGI over collection of health information under province’s Insurance Act

January 14, 2011 by Canadian Underwriter

The Office of the Information and Privacy Commissioner in Saskatchewan says it has reached an impasse with Saskatchewan Government Insurance (SGI) over three ‘breach of privacy’ complaints related to the collection of personal health information under the Automobile Accident Insurance

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Change in occupation test not enough to overturn arbitrator’s order to pay IRB benefits

January 11, 2011 by Canadian Underwriter

A change in the occupation test for determining Income Replacement Benefits (IRB) before and after a 104-week period of disability is not necessarily enough of a “change” of circumstances to warrant overturning an arbitrator’s order to pay IRB benefits.Ontario’s insurance

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B.C. broker fined $1,000 for accidentally disposing of client documents in condo recycling bin

January 7, 2011 by Canadian Underwriter

A B.C. broker has been fined $1,000 by the Insurance Council of B.C. for accidentally pitching his clients’ insurance records into the recycling bin of his residential condo unit instead of taking them back to his office to be shredded,

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Split board on pallet in Superstore results in $48,513 trip-and-fall award

January 7, 2011 by Canadian Underwriter

Risk managers for company superstores will want to make sure their companies check the repair of pallets that display store stock in the middle of their aisles, following a recent B.C. Supreme Court decision in Etson v. Loblaw Companies Ltd.A

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Alberta doubles threshold for reporting vehicle collisions

January 6, 2011 by Canadian Underwriter

Alberta has doubled the amount of property damage that must be sustained before requiring a motorist to report a vehicle collision to a peace office.Motorists must now report damages exceeding $2,000 instead of $1,000.The change came into effect on Jan.

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ICBC loses appeal in hit-and-run case

January 6, 2011 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) has lost its bid to appeal a case in which a gas station owner was injured after a customer filled up her car with gas and attempted to drive away without paying.Parminder Kumar

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OSFI posts final guidance on reinsurance security agreements

January 6, 2011 by Canadian Underwriter

The Office of the Superintendent of Financial Institutions (OSFI) has posted the final version of its Guidance for Reinsurance Security Agreements.OSFI expects all new agreements to comply with the guidance, beginning July 1, 2011.The guidance spells out criteria to be

Richard Nellis
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Catastrophic Stair Falls

January 1, 2011 Richard Nellis and Bailey Gutkin, Kleinfeldt Consultants Limited

Careful investigation of stair falls is an important first step to reducing the risk of injuries in the future.

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MarketPlace (January 01, 2011)

January 1, 2011 by Canadian Underwriter

Canadian Market Proposed changes to capital test would decrease P&C insurers’ MCT scores by 14% Proposed changes to the 2012 Minimum Capital Test (MCT) would decrease federally regulated Canadian property and casualty insurers’ aggregate MCT ratio by 14%, to 212.6%,

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ARC Group Canada Annual Seminar & Cocktail Reception

January 1, 2011 by Canadian Underwriter

The ARC Group Canada held its Annual Seminar & Cocktail Reception on Oct. 28 at the St. Andrews Club & Conference Centre. Delegates heard from insurers and lawyers about professional liability issues. Guests attended a reception immediately following the seminars.

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Psyched Out

January 1, 2011 Craig Harris, Freelance Writer

More frequently, insurers are seeing physical injury claims accompanied by claims for psychological injuries.