What’s new: In brief (April 14, 2005)

Saskatchewan Government Insurance (SGI) is increasing the income benefits to those most seriously injured in auto accidents prior to August 2002. The minimum income benefit will be based on the industrial average wage, current at just over $430 per week, and indexed annually according to the Consumer Price Index. About 200 customers injured in accidents either before the introduction of no-fault coverage in 1995 or benefit changes made in August 2002 will benefit from the changes on a go-forward basis when the legislation is passed. SGI will incur a one-time charge of $30 million to ensure these benefits are paid out over the lifetime of the injured customers.

The offices of Swiss Re Life & Health Canada are moving to 150 King St. West, Suite 1000 in Toronto, postal code M5H 1J9, effective Monday. The life and health operations will now share the same building as Swiss Re’s p&c operations. All phone and fax numbers, and email addresses remain the same.

The Insurance Corp. of B.C. (ICBC) has filed two statements of claim in the province’s Supreme Court to recover costs and damages as a result of two separate alleged staged accidents. The first accident, dating back to 1996, involves six people, with ICBC paying out more than $34,000 in injury and repair claims on what it alleges was a staged rear-end collision. The second case, also involving six people, centers on three separate incidents between May 2000 and February 2002 which resulted in more than $96,000 in payments. In these cases, ICBC alleges stolen vehicles were used in collisions and then abandoned, with the second vehicle’s occupants filing injury and repair claims.