Topic
Mergers and Aqcuisitions
Two F1 tornadoes open the 2010 season in Southern Ontario
June 7, 2010 by Canadian UnderwriterEnvironment Canada has confirmed the first two tornadoes of the 2010 season in Southern Ontario. An F1 tornado with estimated wind speeds of between 117 km-h and 180 km-h tracked eastward near the villages of Dalkeith and Ste-Anne-de-Prescott at about…
Ontario Court of Appeal “tweaks” the forum conveniens law: lawyer
June 7, 2010 by Canadian UnderwriterThe “real and substantial” test in forum non conveniens law has been modified by the Ontario Court of Appeal in Van Breda v. Village Resorts Ltd., according to David A. Bertschi, a partner at Bertschi Orth Smith LLP. “That, from…
Gore Mutual CEO cautions against premature auto rate reductions
June 4, 2010 by Canadian UnderwriterInsurers applying for and receiving auto rate reductions prior to Ontario’s reform implementation may be creating an unrealistic consumer expectation that auto insurance rates are now on the decline, Kevin McNeil, president and CEO of Gore Mutual said.McNeil spoke at…
Ontario Court of Appeal cautions against using evidence outside statement of claim to determine a duty to defend
June 4, 2010 by Canadian UnderwriterThe Ontario Court of Appeal has cautioned against using ‘extrinsic’ evidence – evidence other than the allegations contained in a statement of claim – to determine an insurer’s duty to defend assault allegations under a homeowner’s policy.In Meadows v. Meloche…
Actuary observes a wide variety of Alberta auto claims handling methods during period of cap uncertainty
June 2, 2010 by Canadian UnderwriterAlberta auto insurers demonstrated a wide variety of ways to handle claims reserving and payments for bodily injury during the period of minor injury cap uncertainty, according to an actuarial report prepared by Oliver Wyman for the Alberta Auto Insurance…
Southern Manitoba floods trigger Crawford’s catastrophe response team
June 2, 2010 by Canadian UnderwriterA flood that washed over southern Manitoba on May 29-30 has caused more than $1 million in damages, not including damages resulting from sewage back-ups, cbc.ca reported.Heavy rains and high winds flooded basements, washed-out roads and downed power lines, forcing…
Six SUVs earn top safety rating for rollover: IIHS
June 2, 2010 by Canadian UnderwriterSix mid-size SUVs earned a top rating for rollover protection in the first Insurance Institute for Highway Safety (IIHS) test of roof strengths in the vehicle class.One earned an ‘Acceptable’ rating, and five others earned the second-lowest rating of ‘Marginal.’Those…
Ontario court strikes down allegations that would significantly increase designated drivers’ responsibilities
June 1, 2010 by Canadian UnderwriterThe Ontario Superior Court has struck down sections of a statement of claim that would have significantly increased the responsibility of a designated driver to look after intoxicated passengers.The court dismissed allegations that would have effectively imposed on designated drivers…
The Co-operators introduces discount for LEED certification
June 1, 2010 by Canadian UnderwriterThe Co-operators has introduced a 10% insurance discount for dwellings that are Leadership in Energy and Environmental Design (LEED) certified. The discount, in conjunction other sustainable products and services such as discounts for hybrids, is intended to encourage and reward…
Potting soil causing increasing number of house fires
May 31, 2010 by Canadian UnderwriterPotting soil planters are causing a surprising new trend of accidental fires in homes, according to John Coull, manager of the Mississauga office of Origin and Cause Inc. Coull was speaking at an A.S.A.P Education Series event, Fire Loss Claims…
Canada’s federally regulated P&C insurers double their profits in 2010 Q1
May 31, 2010 by Canadian UnderwriterCanada’s federally regulated property and casualty (P&C) insurers slightly more than doubled their profits in 2010 Q1 compared to the same period of 2009. Canadian P&C insurers fared better than their foreign counterparts.One notable feature of the 2010 Q1 results…
Price not as high a priority for insurance shoppers: J.D. Power
May 31, 2010 by Canadian UnderwriterWhen it comes to auto insurance shopping, the impact of price on new-buyer satisfaction has declined over the past year, according to a J.D. Power and Associates study. Ten per cent of auto insurance shoppers did not select the company…