Topic
Mergers and Aqcuisitions
Nova Scotia keeps minor injury cap, triples limit to $7,500
April 29, 2010 by Canadian UnderwriterNova Scotia has kept its minor injury cap on pain and suffering awards for automobile accident injuries, but tripled its maximum limit to $7,500.The government announced amendments to the Insurance Act and draft regulations on Apr. 28. The amendments and…
IBC and IBANS committed to working with Nova Scotia on auto cap amendments
April 29, 2010 by Canadian UnderwriterInsurance Bureau of Canada (IBC) and the Insurance Brokers Association of Nova Scotia (IBANS) say they are committed to working closely with Nova Scotia to monitor the effect of the changes to the auto cap regulations in the province. Changes…
FSCO outlines transition rules for Ontario’s new auto reforms
April 28, 2010 by Canadian UnderwriterAs of Sept. 1, 2010, as a general rule, the New Statutory Accident Benefits Schedule (SABS) enshrined in Ontario’s new auto insurance reforms “will govern claims processing relating to old accidents,” as well as “the determination of amounts payable by…
B.C. to impose Canada’s strictest impaired-driving penalties
April 28, 2010 by Canadian UnderwriterBritish Columbia has announced it intends to introduce the country’s most severe penalties for impaired driving. The government said it expects changes to the Motor Vehicle Act (MVA) to be implemented in Fall 2010.Under the proposed new legislation, drivers who…
Cunningham Lindsey sends Canadian adjusters to aid flooding activity in Australia
April 28, 2010 by Canadian UnderwriterCunningham Lindsey has deployed 10 of its Canadian adjusters to assist with catastrophe response efforts in Australia.Severe storm activity in March resulted in massive flooding in and around Perth.More than 120,500 property and motor vehicle claims were reported as of…
Ontario Appeal Court refines concept of damages “too remote” for recovery
April 27, 2010 by Canadian UnderwriterThe Ontario Court of Appeal has refined the concept of “damages too remote for recovery,” recently distinguishing the fact situation in Frazer v. Haukioja from that of the Supreme Court of Canada case, Mustapha v. Culligan of Canada Ltd. In…
Cunningham Lindsey merges Markham and Toronto North offices
April 26, 2010 by Canadian UnderwriterCunningham Lindsey is merging its Markham and Toronto North offices effective May 1, 2010. Toby Collins will be the branch manager of the newly merged office, which will be in the current Toronto North location. Toronto North adjusters Pamela Allen,…
SGI Canada reports most profitable year ever in 2009
April 26, 2010 by Canadian UnderwriterSGI Canada has reported a net income of $52.4 million – the most profitable year in the corporation’s history – in part due to a low number of storm losses. Continued growth in the provincial economy provided premium growth of…
Ontario Appeal Court overturns decision that would have widened scope for taping defence medical examinations
April 23, 2010 by Canadian UnderwriterIn a 3-2 decision, the Ontario Court of Appeal has reversed a lower court ruling that would have allowed taping of defence medical examinations in most (if not all) cases where a request is made, based on an alleged “systemic…
RIBO warns of alleged auto insurance scam
April 23, 2010 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) is warning of an alleged automobile insurance scam.A newspaper ad advertising auto insurance with a 1-800 contact number has been placed in several Ontario city newspapers, a RIBO release says. Typically, the perpetrators…
Ontario court re-asserts limits on how much plaintiff’s counsel can help client during discovery
April 21, 2010 by Canadian UnderwriterThe Ontario Superior Court recently re-asserted the limits of how much a plaintiff’s counsel can help his or her client during an examination for discovery in an action concerning a motor vehicle accident.In Michael Madonis v. Julian G. Dezotti and…
Tax and regulatory burden costs insurance industry more than 11% of revenue
April 21, 2010 by Canadian UnderwriterSlightly more than 11% of the $38.4 billion of the insurance industry’s 2008 revenues went towards regulatory and tax costs, according to a PricewaterhouseCooper’s (PwC) report.Insurance Bureau of Canada commissioned PwC to study, for the first time, both the tax…