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What’s new: In brief (December 20, 2004)

December 20, 2004 by Canadian Underwriter

The November Consumer Price Index published by Statistics Canada finds auto insurance prices have gone down to a significant degree in total, premiums have dropped by 1.6% since last November alone, to have a “dampening” effect on the CPI. Unfortunately,

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Florida votes to reimburse policyholders for multiple deductibles

December 19, 2004 by Canadian Underwriter

The Florida legislature decided on Friday to support a plan reimbursing policyholders who paid multiple deductibles on claims filed as a result of this year’s four major hurricanes.In the aftermath of Hurricanes Charley, Frances, Jeanne and Ivan, which struck the

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Co-operators upgraded by S&P

December 15, 2004 by Canadian Underwriter

Standard & Poor’s has upgraded the long-term counterparty credit and financial strength ratings on Guelph, Ontario-based Co-operators General Insurance Co. to “BBB” from “BBB-“. The rating agency also pushed the long-term national preferred stock rating on the company to “P-3”

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What’s new: In brief (December 13, 2004)

December 13, 2004 by Canadian Underwriter

Chubb Insurance Co. of Canada has appointed Paul Morrissette as manager of its personal insurance, Canadian zone. He has 15 years of insurance industry experience, all with Chubb, most recently as vice president of Chubb Personal Insurance in New Jersey.

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IBC “top ten” insurance crimes list no laughing matter

December 13, 2004 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is using its annual “top ten” insurance crimes list as a chance to educate rather than amuse this year. In particular, the IBC is focusing on the crime of auto theft and its potentially

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What’s new: In brief (December 12, 2004)

December 12, 2004 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has made some organizational changes at its insurance divisions, including merging all auto insurance related functions into the Auto Insurance Division, including dispute resolution. A new executive director function has been created to

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S&P maintains stable outlook for U.S. personal lines

December 9, 2004 by Canadian Underwriter

While the U.S. commercial lines p&c sector is not gaining favor with Standard & Poor’s, the personal lines sector remains strong, the rating agency says.“Although earnings prospects for the first six months of 2005 appearfavorable for the personal lines sector–with

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Battle over DAC elimination continues

December 9, 2004 by Canadian Underwriter

Designated assessment center (DAC) representatives and trial lawyers continue to wage a war of words over the elimination of DACs as proposed by the Ontario Liberal government.Thursday, the Association of DACs (ADAC) penned an open letter urging Premier Dalton McGuinty

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Survey shows significant number admit to drinking and driving

December 8, 2004 by Canadian Underwriter

While many people believe stopping impaired driving to be an important social issue, there is evidence that a significant number of drivers are getting behind the wheel after drinking.A new survey by the Traffic Injury Research Foundation (TIRF) and Toyota

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What’s new: In brief (December 08, 2004)

December 8, 2004 by Canadian Underwriter

The Association of Designated Assessment Centres (ADAC) has come out against proposed changes which would eliminate DACs in Ontario. In a statement Wednesday, ADAC says, “Premier Dalton McGuinty’s government is quietly trying to take away the independent “referee” who decides

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Liberals offer up new DAC replacement scheme in Ontario

December 6, 2004 by Canadian Underwriter

According to documents from the Financial Services Commission of Ontario (FSCO) obtained by Canadian Underwriter, a new system to replace Ontario’s “designated assessment centers” (DACs) has been established.The new “post-DAC” system would allow claimants to receive assessments within the statutory

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MPI told to lower rates by PUB

December 6, 2004 by Canadian Underwriter

Manitoba Public Insurance, the province’s government-run auto insurance plan, has been told to lower basic auto insurance rates by 1% for 2005 by the provincial Public Utilities Board (PUB), which regulates auto rates.As a result of the PUB decision, the