Topic
Legal
European high court rules that flight cancellation insurance cannot be included automatically in the price of airfare
July 20, 2012 by Canadian UnderwriterCompanies selling air travel tickets online cannot automatically include cancellation insurance with the airfare, the Court of Justice of the European Union has ruled. “‘Optional price supplements’ relating to additional services which are not compulsory must be communicated clearly at…
Hackers step up their attacks against small businesses: Symantec
July 19, 2012 by Canadian UnderwriterHackers are increasing their attacks on smaller enterprises with fewer than 250 employees, Symantec Corp. (Nasdaq: SYMC) announced in its June 2012 Symantec Intelligence Report (ISTR). The report shows that 36% of all targeted attacks (58 per day) during the…
B.C. court distinguishes between a “driver training event” and a “contest, show or race”
July 19, 2012 by Canadian UnderwriterA British Columbia court has determined the owner of a Corvette is entitled to insurance coverage after he severely damaged the car during an event the judge described as “driver training event,” as opposed to a “contest, show or race,”…
Insurance required for motor assisted scooters with pedals removed: B.C. court
July 18, 2012 by Canadian UnderwriterA British Columbia judge has dismissed appeals by a scooter rider convicted of driving without a licence or insurance, but suggests that provincial rules governing motor assisted cycles (MACs) could benefit from a review. British Columbia’s Motor Vehicle Act (MVA)…
Man in default of auto accident judgments cannot challenge their validity in follow-up actions to recoup amounts: court
July 16, 2012 by Canadian UnderwriterA man in default of two court judgments ordering him to pay a total of $80,000 in damages to two injury victims in a 1992 auto accident is not entitled to challenge the validity of those judgments in subsequent actions…
Ontario drivers concerned about auto theft, but are not taking precautions
July 5, 2012 by Canadian UnderwriterMore than 60% of Ontario car owners surveyed by Angus Reid incorrectly believe they are fully covered by insurance if their vehicles are stolen. LoJack Canada, which distributes vehicle recovery and tracking systems, commissioned the online survey, which was conducted…
Scientific precision not required to prove “but for” causation: Supreme Court
July 4, 2012 by Canadian UnderwriterScientific precision is not a necessary condition to find “but for” causation on a balance of probabilities, the Supreme Court of Canada has found. The court ordered a retrial in a motorcycle accident case, in which the trial judge found…
Federal funding cuts planned to emergency preparedness initiatives
July 3, 2012 by Canadian UnderwriterThe federal government plans to cut funding to the Joint Emergency Preparedness Program (JEPP) at a time when decisions and response related to a deadly roof collapse in Elliot Lake, Ontario have come under fire. The Heavy Urban Search and…
Contact centres a point of attack for voice-facilitated fraud
July 3, 2012 by Canadian UnderwriterProperty and casualty insurance is not immune to the growing problem of voice-facilitated fraud in a number of industries and contact centres may be a vulnerable point of attack, notes information from Mattersight Corporation. Fraudsters are buying policies under stolen…
ADR: More Than Arbitration
July 2, 2012 David Wilmot, Senior Reinsurance Executive (Semi-Retired), Industry Consultant, ArbitratorRecent advances in alternative dispute resolution (ADR) represent an opportunity for Canadian insurers to exercise greater control in resolving reinsurance disagreements while reining in potential costs in time and expense.
New Brunswick proposes to boost minor injury cap to $7,500
June 28, 2012 by Canadian UnderwriterNew Brunswick is proposing to increase its $2,500 cap on minor auto injuries up to $7,500 and come up with a new definition for minor injuries that would see fewer people come under the cap. The government on June 28…
Canadian federally regulated P&C insurers boost results in 2012 Q1
June 27, 2012 by Canadian UnderwriterFederally regulated property and casualty insurers in Canada posted improved financial results in 2012 Q1, recording a collective quarterly profit of $1.048 billion this quarter as opposed to a $721.7-million profit in the same period last year. Figures from the…