Topic
Mergers and Aqcuisitions
What’s New: In Brief (January 21, 2010)
January 21, 2010 by Canadian UnderwriterCatlin Canada now underwrites D&O liability and has appointed Christopher Mutcheson as product manager for the line of business.Mutcheson was most recently employed as the assistant vice president of financial lines for Executive and Risk Services. He has prior underwriting…
FSCO approves average auto rate increase of 2.49% in 2009 Q4, based on entire market
January 19, 2010 by Canadian UnderwriterOntario’s insurance regulator has approved a 2009 Q4 auto insurance rate increase of 2.49%, based on the entire market.In the fourth quarter of 2009, for the 55.48% of the province’s auto insurance market that had rate changes approved, the average…
Insurance contract to pay accident benefits not “a contract for peace of mind”: Ontario judge
January 19, 2010 by Canadian UnderwriterThe daughter of a woman who was injured in an auto collision and subsequently denied accident benefits is not entitled to collect benefits under her mother’s policy based on the loss of her mother’s care and guidance, the Ontario Superior…
Nova Scotia presses ahead with its review of minor auto injury cap
January 18, 2010 by Canadian UnderwriterNova Scotia’s government is moving ahead with its promised review of the province’s $2,500 minor auto injury cap.The government has issued a nine-page discussion paper on the cap, entitled Concerning the Cap on Pain and Suffering Awards for Minor Injuries,…
iv3 Solutions teams up with Altus Group to bring residential replacement cost solution to Canadian market
January 18, 2010 by Canadian Underwriteriv3 Solutions has teamed up with Altus Group (TSX: AIF.UN) to bring a residential replacement cost toolset to the Canadian marketplace in early 2010.iv3 Solutions has also launched residential inspection management services and loss control solutions to the North American…
Ontario auto reforms need to clarify an ‘incurred cost’: defence lawyer
January 15, 2010 by Canadian UnderwriterThere is a need to provide a clear definition for the word “incurred” under Ontario’s Statutory Accident Benefits Scheme (SABS), said Philippa Samworth, a partner at Dutton Brock LLP.Typically, “incurred” is interpreted to mean that a person has paid for…
Proposed changes to Ontario medical and rehab benefits potentially “problematic” for brokers
January 15, 2010 by Canadian UnderwriterThe proposal to decrease Ontario’s medical and rehab benefit from $100,000 to $50,000, including an option to purchase higher limits, will place a huge onus on brokers and expose them to an increased risk of litigation, said Philippa Samworth, a…
What’s New: In Brief (January 14, 2010)
January 14, 2010 by Canadian UnderwriterKenneth V. Lavigne has been appointed senior vice president and manager of FM Global’s Canada division.Lavigne replaces Perry Brazeau, who retired at the end of 2009 after 33 years with the company. Lavigne joined FM Global in 1980 as a…
Ontario auto insurance rates increased in 2009 Q4: Kanetix
January 13, 2010 by Canadian UnderwriterThe lowest auto insurance rates quoted by Kanetix in Q4 2009 increased on average 5.3% when compared to the same period of 2008.The increase, consistent with rate changes previously approved and announced by Ontario’s auto insurance regulator, means drivers should…
Insurance industry counsels Alberta not to prohibit exclusion of claims for fire following terrorist events
January 12, 2010 by Canadian UnderwriterCanada’s property and casualty insurance industry is “strongly cautioning” the Alberta government to scrap a proposal that would prohibit insurers from excluding claims for fire damage following terrorist or earthquake events.Primary insurers would run a higher risk of insolvency if…
MPI profits increase in 2009, based on rebound in investment markets
January 12, 2010 by Canadian UnderwriterManitoba Public Insurance (MPI) has a reported net income of $32.1 million for the nine months ended Nov. 30, 2009, compared to a net income of $1.8 million for the same period of 2008. The improvement was achieved in part…
Painful symptoms alone not sufficient to claim non-earner benefits: Ontario court
January 11, 2010 by Canadian UnderwriterPainful symptoms that interfere with a person’s post-accident activities are not sufficient to entitle claimants to non-earner benefits — particularly in circumstances when there is a pre-existing medical condition, Ontario’s arbitrator has ruled. In Jasmin Mangallon and TTC Insurance Company…