Canadian Underwriter

What’s new: In brief (February 23, 2005)

February 23, 2005   by Canadian Underwriter

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Life and health insurers applauded the unveiling of Canada’s federal budget on Wednesday. The Canadian Life & Health Insurance Association (CLHIA) praises the balanced budget proposed by the minority Liberal government. The CLHIA also praised the reduction of personal and corporate income taxes as “an important investment in Canada’s continued economic growth and prosperity”.

Asbestos and silica liability reform has been introduced in the Texas legislature which would require claimants to meet certain medical criteria before the cases go into the court system, mirroring similar legislation already in place in Ohio. H.B. 8, introduced by Republican Representative Joe Nixon, is an attempt to prioritize claims and unclog the glut of cases in the state’s legal system, as well as to weed out claimants who have no medical illness but have been pushed into the system by marketing companies or screening firms.

The recent 16th Annual KRG Children’s Charities Gala raised $120,000 for a variety of worthwhile causes including Variety Village, The Hospital for Sick Children, Children’s Aid Foundation, The Jean Tweed Centre, Zareinu Educational Centre and Camp Oochigeas. The event featured gusts hosts Cheryl Hickey and Anwar Knight of Global TV, as well as a surprise visit by Newmarket-Aurora MP Belinda Stronach.

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