What’s New: In Brief (May 07, 2007)

Chubb Insurance Company of Canada has doubled its identity fraud coverage limit to $50,000 for expenses related to reestablishing the claimants identity.
The insurer has also increased its coverage to include expenses accrued from real estate and mortgage fraud.
Both enhancements take effect immediately to customers with Masterpiece Personal Liability and Masterpiece Family Protection policies.
With no extra cost, Chubb is now including coverage for the legal fees, investigation work and other expenses incurred in addressing mortgage or real estate fraud.
With growing publicity and concern surrounding real estate and other identity-related fraud, we wanted as many clients as possible to receive the benefit right away, Paul Morrissette, senior vice-president of personal insurance, said in a statement.

Automated Benefits Corp. (TSX:AUT) a Toronto-based software company that develops applications for the insurance industry has closed its private placement of units of the corporation (each unit is comprised of one common share and one-half of one common share purchase warrant).
The placement was completed with the issuance of 18,344,000 units at a price of 20 cents per unit for a collective gross of $3,668, 800.
Acceptance by the TSX Venture Exchange Inc. is still subject to the completion of filings by Automated Benefits Corp.
The company stated in a press release that the proceeds will be used for sales and marketing activities, further research and development and for working capital purposes.