Topic
Mergers and Aqcuisitions
IBC focuses on frequency
August 31, 2004 by Canadian UnderwriterIn its quarterly report on property & casualty insurance, the Insurance Bureau of Canada (IBC) looked at the extent to which auto claims frequency has declined, compared to a steep increase in severity, over the past decade.Frequency, or the number…
ICBC fraud charges stick in two cases
August 29, 2004 by Canadian UnderwriterIn two separate cases, the Insurance Corporation of B.C. has seen drivers plead guilty to providing false information to the public insurer.Salvatore Figliuzzi of Coquitlam, BC, received a fine of $800, and ordered to pay ICBC $1,074 in restitution. He…
York Region police uncover $2 million auto theft ring
August 29, 2004 by Canadian UnderwriterPolice in Ontario’s York Region have laid 130 criminal charges against five men after recovering stolen vehicles worth more than $2 million.The charges followed a 16-month investigation dubbed “Project Romeo” which led to the recovery of over 50 luxury vehicles…
IBC takes stand on publication of rate filings
August 26, 2004 by Canadian UnderwriterInsurers are taking umbrage with the idea of making their regulatory rate filings public. In a submission to hearings being conducted by Nova Scotia’s Insurance Review Board (IRB), the Insurance Bureau of Canada (IBC) says insurers rate filings contain proprietary…
What’s new: In brief (August 24, 2004)
August 24, 2004 by Canadian UnderwriterFairfax Financial Holdings Ltd. is selling US$95 million in 7.75% senior notes due 2012 at an issue price of 97.25%. The company says it plans to use the proceeds to purchase its outstanding debt from time to time, based on…
Young drivers targeted by thieves: MPI
August 23, 2004 by Canadian UnderwriterA new study by Manitoba Public Insurance (MPI) suggests young driver are being targeted by thieves and vandals.Of people aged 18 to 24, 38% say they have reported a vehicle theft, vandalism or break-in to the public insurer in the…
What’s new: In brief (August 22, 2004)
August 22, 2004 by Canadian UnderwriterA new study by the U.S. Insurance Research Council shows that of the highest-level auto accident cases, almost 75% of claimants who did not hire an attorney were satisfied with their payment, while less than half with an attorney were…
Car thieves targeting residential neighborhoods: MPI
August 18, 2004 by Canadian UnderwriterWith this week marking “Auto Theft Awareness Week”, Manitoba Public Insurance (MPI) is releasing a survey suggesting most car thefts occur in residential neighborhoods.The study, conducted in May, found 59% of those who had been victims of auto theft say…
What’s new: In brief (August 17, 2004)
August 17, 2004 by Canadian UnderwriterToronto-based Accident Support Services International Ltd. (ASSI) has launched its “Collision Reporting and Occurrence Management System” or CROMS II, to allow brokers and insurers to view all post-collision information for policyholders from their desktops. The system, ASSI says, will not…
Second study finds teens learn driving habits from parents
August 11, 2004 by Canadian UnderwriterAnother study has come out showing teen drivers take most of their cues from their parents’ driving habits. The 2004 Liberty Mutual/SADD Teen Driving Study finds almost 60% of high school drivers say their parents are the biggest influence on…
CANADIANUNDERWRITER.CA WEB SITE WILL BE DOWN ON FRIDAY, AUGUST 13TH
August 10, 2004 by Canadian UnderwriterWe are moving offices. This means that our Web site will be down on Friday, August 13th between 8:00 a.m. and 10:00 p.m. We apologize in advance for the inconvenience. We will work to minimize the duration of this outage…
Ontario Liberals release “customized” auto policy plans
August 9, 2004 by Canadian UnderwriterThe Ontario Liberal government has released a discussion paper outlining its plans for a new auto insurance system which would include “customized coverages” for accident benefits (AB).The Ministry of Finance has posted the discussion paper on its website and is…