What’s New: In Brief (September 04, 2009)

Insurers expect to pay out more than Cdn$6 million to clients for repairs to homes, cars and businesses damaged after a force F2 tornado tore through the town of Mont-Laurier, Quebec on Aug. 4, 2009.
Despite the storm’s short duration, the force of the winds — between 180 and 250 km-h — caused extensive damage resulting in a total of 250 claims, according to figures released by the Insurance Bureau of Canada (IBC).
Out of these 250 claims, insurers reported 146 claims for damage to homes and personal property totalling close to Cdn$4 million.
Eighty-eight auto insurance claims were made, with damages estimated at Cdn$400,000.
The IBC estimates damage to businesses and companies in the area at about Cdn$2 million (about 15 claim files).

Alberta’s Superintendent of Insurance has updated its enforcement activities taken in 2009.
The three most expensive fines to be administered so far this year include:
•    Security National Insurance Company was fined Cdn$75,000 for charging private passenger automobile insurance premiums in excess of approved rates;
•    Lombard General Insurance Company of Canada was fined Cdn$32,500 for refusing to renew private passenger automobile insurance policies; and
•    RSA Canada was fined Cdn$15,000 for the use of non-approved endorsements.