Topic
Insurance
Insurer not liable for AB when claimant fails to attend examinations
May 15, 2009 by Canadian UnderwriterAn insurer is not liable to pay for accident benefits when the accident victim has failed to attend insurer examinations without a reasonable explanation, a Financial Services Commission of Ontario (FSCO) arbitrator has decided.Illiia Troubitsine alleges he was on a…
What’s New: In Brief (May 15, 2009)
May 15, 2009 by Canadian UnderwriterING Canada has officially become Intact Financial Corporation, after shareholders approved the name change. The name change reflects the acquisition on February 19 by institutional and retail investors of all the shares held by ING Groep in the company, Intact…
Supreme Court upholds insurer’s duty to defend in accidental shooting death
May 14, 2009 by Canadian UnderwriterThe Supreme Court of Canada has declined to hear the appeal of Optimum Insurance Company in a duty-to-defend case involving the accidental shooting death of a friend at a house party in New Brunswick.The Supreme Court’s decision represents the end…
New process management technology being focus-tested in Canada
May 14, 2009 by Canadian UnderwriterA new form of “process management technology” — a sophisticated application for e-mail and document tracking — is being focus-tested in Canada and may have some application to claims processing, underwriting, audit and/or the project management sides of the property…
Baby Boomers increasingly relying on Web for information
May 14, 2009 by Canadian UnderwriterCelent estimates that 90% of personal auto insurance purchases in the United States will be researched online by 2011.Nicolas Michellod, a Celent analyst, delivered a Webinar entitled ‘Online Insurance Sales and Marketing: What’s Happening and What’s Next?’Michellod pointed to Celent…
H1N1 may spark demand for travel cancellation insurance
May 14, 2009 by Canadian UnderwriterThe demand for trip cancellation coverage seems likely to increase as the threat of H1N1 flu continues to plague travellers. The Travel Health Insurance Association (THIA) is urging Canadians who are planning international trips to protect their health and travel…
Ephemeral nature of electronic media can both expand, reduce exposure to liability
May 13, 2009 by Canadian UnderwriterThe ephemeral nature of electronic media is a double-edged sword, in that it can both expand and limit exposure to media liability, a prominent media lawyer told a PLUS Canadian Chapter educational seminar in Toronto.In terms of expanding liability exposure,…
M&A activity likely, but only for smaller brokerages
May 13, 2009 by Canadian UnderwriterMerger and acquisition activity appears likely to heat up within Canada’s insurance brokerage marketplace, but it’s unlikely the activity will involve larger brokerages, Eric Andersen, CEO of Aon US Retail, said in an Advisen Webinar on May 13.In an earlier…
What’s New: In Brief (May 13, 2009)
May 13, 2009 by Canadian UnderwriterParis Re Holdings Limited has reported an IFRS net income of US$118.6 million for 2009 Q1, compared to an IFRS loss of US$129.5 million in 2008 Q1. The combined ratio for the quarter was 92.2%, compared to 93.3% for 2008…
ING Canada reports Cdn$36.3-million loss in 2009 Q1
May 13, 2009 by Canadian UnderwriterING Canada Inc reported a net loss of Cdn$36.3 million in 2009 Q1, compared to a net gain of Cdn$23 million in 2008 Q1.The company cited home insurance results as a major contributor to the loss.“Our operating performance continued to…
Insurer’s duty to defend is broader than duty to indemnify: Ontario court
May 12, 2009 by Canadian UnderwriterThe Ontario Superior Court has ruled that an insurer has a duty to defend an insured even when the conduct of the claimant — specifically, whether that conduct was illegal — is at the heart of the issue of whether…
Catastrophe severity will affect pace of hardening market in 2009: Advisen
May 12, 2009 by Canadian UnderwriterThe severity of the 2009 catastrophe season is a wild card in determining the speed at which the commercial insurance market will harden this year, says a recent briefing by Advisen, ‘The Insurance Market in 2009: A Market Poised for…