Keyword
Intact
Why your CGL pollution exclusion may not go far enough
January 4, 2018 by Canadian UnderwriterEven though they put pollution exclusions into their commercial general liability policies, two major insurers are still on the hook for defending a Vancouver area dry cleaner against a lawsuit arising from soil contamination, a court ruled last week. In…
Regulator challenges rosy telematics picture
December 2, 2017 Greg Meckbach, Associate EditorCanadian auto insurers have been using telematics to gather data on driving behaviour for years, with one insurer having billions of miles’ worth of data, but it remains debatable whether pay-as-you-drive technology actually reduces insured losses. Claims costs “could conceivably…
Intact’s combined ratio improves 5.2 points but personal auto has $31M in unfavourable prior-year development
November 8, 2017 by Canadian UnderwriterIntact Financial Corp.’s personal auto results were “disappointing” during the three months ending Sept. 30, chief executive officer Charles Brindamour said Tuesday in press release, but the Toronto-based insurer reported that across all lines, underwriting income more than doubled from…
CGL insurer has duty to defend third-party claim arising from workplace injury
October 19, 2017 by Canadian UnderwriterThere is a possibility that a third-party claim against a door installation company – whose subcontractor was injured on the job and was not covered by the Alberta Workers’ Compensation Board – falls under a commercial general liability policy, a…
Intact completes acquisition of U.S. specialty insurer OneBeacon, announces executive appointment
September 28, 2017 by Canadian UnderwriterIntact Financial Corporation (IFC) announced on Thursday that it has completed its $2.3 billion (US$1.7 billion) acquisition of U.S. specialty insurer OneBeacon Insurance Group, Ltd. The acquisition makes IFC “a leading provider of specialty insurance in North America with over…
Intact’s acquisition of OneBeacon Insurance Group expected to close this week
September 25, 2017 by Canadian UnderwriterIntact Financial Corporation (IFC) announced on Monday that it has obtained all regulatory approvals required to complete the previously announced proposed acquisition of OneBeacon Insurance Group, Ltd. The acquisition is expected to close on or about Sept. 28, IFC said…
Court to analyze whether commercial liability policy applies lawsuit arising from fatal injury on the job
September 14, 2017 by Canadian UnderwriterAn Ontario court finding, that Intact Insurance Company has a duty to defend an organization sued in connection with a worker killed on the job, lacked “analysis of the critical issues that had to be addressed,” the Court of Appeal for Ontario…
A.M. Best reports spike in Canadian investment in U.S. insurance market
September 1, 2017 by Canadian UnderwriterThere is a “growing interest” among Canadian property and casualty insurers in the United States market, while on this side of the border, Aviva plc has became the Number 2 P&C insurer in Canada and the loss ratio in Canadian…
Insurer can dispute conviction of driving without insurance in accident benefits priority dispute
August 24, 2017 by Canadian UnderwriterFederated Insurance Company of Canada is allowed to bring forth arguments – in an Ontario auto accident benefits priority dispute with Intact Insurance Company – that a motorist convicted of driving without insurance was nevertheless insured by Intact, now that the Supreme Court of Canada has denied Intact leave to appeal.
Court records indicate that in early 2010, Patrick Cadieux had his vehicle insured by Intact. But his premium payment for February, 2010 was returned due to non-sufficient funds, Justice James Diamond of the Ontario Superior Court of Justice noted…
Need for building code upgrades ‘did not come about’ due to ice damage: Alberta court
August 14, 2017 by Canadian UnderwriterThe Supreme Court of Canada will not be hearing an appeal from an Edmonton shopping mall owner, whose award – of more than $500,000 against insurers, arising from a disputed claim involving building code upgrades – was reversed on appeal.…
Intact has yet to see ‘full impact’ of 2016 change to Ontario auto catastrophic impairment criteria
August 3, 2017 by Canadian UnderwriterIt has been more than a year since Ontario changed its criteria for catastrophic impairment and reduced the mandatory coverage for accident benefits, but the “long tail profile” of accident benefits claims means the Ontario reforms “have not fully been…
Q2 combined ratio improves 4.2 points for Intact, OneBeacon acquisition “on track to close” in 2017
August 1, 2017 by Canadian UnderwriterIntact Financial Corp. reported Tuesday its underwriting income was $103 million during the three months ending June 30, up $87 million from $16 million during the same period in 2016. Toronto-based Intact said direct premiums written rose 2%, from $2.458…