Topic
Legal
Subrogated Action
July 31, 2011 Michael S. TeitelbaumIn Zurich Insurance v. Ison T.H. Auto Sales Inc. addresses control of a subrogated action
On the Scene
July 31, 2011 byFirstOnSite has expanded its Ontario managementteam with three new appointments.Steve Gregg is now district manager of the GTA.Jim Mandeville is now branch manager of Toronto East.Len Perdic has accepted the title of project manager in Hamilton. Kernaghan Adjusters’ held its…
Belfor Cancer Ride
July 31, 2011 byThe Inaugural Belfor Cancer Ride was held on June 24. The industry motorcycle event was organized to help raise funds for the Princess Margaret, Weekend to End Women’s Cancers. The event took riders on a scenic route through Buckhorn and…
Canadian Insurance Claims Managers Association
July 31, 2011 byThe Ontario chapter of the Canadian Insurance Claims Managers Association (CICMA) held its annual golf tournament at the Cardinal Golf Course in Newmarket, Ont. on June 24. This year, 296 golfers participated in the event, raising a total of $26,000…
Insurers need to discuss restricted activities with clients, in light of arbitrator’s ruling in Ontario limo “stripper pole” case: lawyer
July 31, 2011 byA McMillan LLP article says insurance companies should be discussing any expectations placed on clients and restrictions on activities permitted on insured premises or within an insured vehicle, based on an Ontario arbitrator’s ruling in Whipple v. Economical Mutual Insurance…
Property Loss Update
July 31, 2011 Glenn GibsonA recent MIT study was focused on determining what motivates employees who are doing complex, deep-thinking, creative tasks. One might think this type of employee would respond very well in a ‘pay for performance’ culture. The study disproved this theory.…
Transatlantic, Validus at odds over unsolicited acquisition offer
July 29, 2011 by Canadian UnderwriterTransatlantic Holdings Inc. is recommending stockholders reject Validus Holdings Ltd.’s unsolicited, $3.5-billion offer to acquire all the outstanding common shares of Transatlantic.The Validus offer follows a previously announced, $3.2-billion offer for Transatlantic in June 2011 by Allied World Assurance Company…
Extended warranties or guarantees are not “insurance” for tax purposes: Alberta Appeal Court
July 28, 2011 by Canadian UnderwriterExtended warranties or guarantees on products other than vehicles do not count as “insurance” for tax purposes, the Alberta Court of Appeal has ruled.In Brick Protection Corporation v. Alberta (Provincial Treasurer), the Appeal Court concluded on July 21 that taking…
Phony airbag deployment often used to beef up claim damage: accident reconstruction expert
July 28, 2011 by Canadian UnderwriterPhony airbag deployment is an increasingly common element of auto fraud, an accident reconstruction expert told an education seminar held in London, Ontario on July 26. Gord Jenish, president of Jenish Engineering, presented some common signs indicating the fraudulent deployment…
OPP notes increase of insurance frauds involving ‘homemade’ trailers, marina chop shops and ATVs
July 27, 2011 by Canadian UnderwriterCar theft may be grabbing headlines these days, but frauds involving other types of vehicles have emerged recently on the radar screens of Ontario police. These include insured ‘homemade’ trailers, watercraft and all-terrain vehicles (ATVs).Sergeant Stephen Boyd of the Ontario…
Paying out small auto claims without investigation could embolden fraudsters
July 27, 2011 by Canadian UnderwriterInsurance companies settling small claims without any investigation may in fact be emboldening fraudsters to commit more serious forms of fraud in the future, a claims investigator warned at a seminar on combating auto fraud.Jordan Legg of Cunningham Lindsey spoke…
FICOM will no longer perform bankruptcy, criminal record checks for prospective insurance company directors, executives
July 20, 2011 by Canadian UnderwriterBritish Columbia’s Financial Institutions Commission (FICOM) will no longer perform bankruptcy or criminal record checks for directors, senior officers or significant shareholders of insurance companies or captive insurers.Instead, candidates for these positions will have to bankroll their own criminal record…