News
Canada gets a “C” grade on environmental report card
January 18, 2013 by Canadian UnderwriterCanada has received “C” grade on a new environmental report card, ranking low on the list of other major developed countries, above only the United States and Australia. Canada ranked 15th out of 17 countries on The Conference Board of…
Relationship between brokers, insurance companies improved in 2012: survey
January 17, 2013 by Canadian UnderwriterThe relationship between brokers and their insurance company partners improved significantly in 2012, suggests the results of a survey conducted by the Insurance Brokers Association of Ontario (IBAO). The results from IBAO’s “Rate Your Company” survey from last year suggest…
FSCO lays 84 charges against two Toronto rebab clinics, four people for auto fraud
January 17, 2013 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has laid 84 charges under Ontario’s Insurance Act against two Toronto rehabilitation clinics and four individuals alleged to have submitted false invoices to auto insurers. The clinics were each charged with seven counts of…
Western Financial Group acquires First Insurance Agencies
January 17, 2013 by Canadian UnderwriterFirst Insurance Agencies Ltd. in Campbell River, British Columbia has joined Western Financial Group’s growing network of insurance brokerages across western Canada, effective Jan. 14. Marking Western’s third acquisition on Vancouver Island in the last year, the company now has…
Bushfires spark another catastrophe declaration in Australia
January 17, 2013 by Canadian UnderwriterExtensive damage caused by ongoing bushfires prompted the Insurance Council of Australia (ICA) to formally declare as catastrophes the region around Coonabarabran and the Warrumbungle National Park in northern New South Wales. The ICA issued the catastrophe declaration, which covers…
New Brunswick court upholds order to produce fire documents for State Farm
January 17, 2013 by Canadian UnderwriterThe New Brunswick Court of Appeal recently upheld a lower court decision requiring a fire insurance claimant to produce records for State Farm Fire & Casualty Insurance. The appeal court dismissed an appeal from Karen Bennett of an Oct. 2011…
Specialty risk company launches database for stolen golf carts
January 16, 2013 by Canadian UnderwriterSpecialty insurance broker Signature Risk Partners Inc. has launched a new database of stolen golf carts. The Stolen Cart Online Registry (SCOR) addresses a need by the golf industry to track stolen carts from different manufacturers, the company says. “The…
7% chance industry could see natural catastrophe losses similar to 2011 level: report
January 16, 2013 by Canadian UnderwriterThere is a 7% probability that the global insurance industry will see a level of loss similar to 2011, when insured losses from global natural catastrophes exceeded $110 billion, suggests a new report. In its report, Taking a Comprehensive View…
Survey suggests support for improving claims process, upgrading systems
January 16, 2013 by Canadian UnderwriterImproving the insurance claims process and upgrading or replacing claims systems were among the key focus areas for the majority of insurance claims professionals in the United States responding to a survey by Massachusetts-based Trillium Software. Almost 93% of respondents…
Ontario appeal board upholds caution issued to IME in auto claim
January 16, 2013 by Greg Meckbach, Associate EditorThe Ontario Health Professionals Appeal and Review Board recently confirmed a decision by a committee of the College of Physicians and Surgeons of Ontario (CPSO) to caution an independent medical examiner who made what it called an “inadequate and inaccurate”…
Kanetix launches mobile app for auto insurance quote comparison
January 16, 2013 by Canadian UnderwriterOnline financial comparison website, Kanetix.ca, has launched a new mobile app that allows users to scan and compare auto insurance quote estimates from their iPhone. The free Kanetix Car Insurance Quick Quote app is a first in Canada, the company says, and…
Insurer advocates for Gardiner Expressway construction work in Toronto
January 15, 2013 by Canadian UnderwriterAuto insurance provider CAA South Central Ontario is pushing for Toronto politicians to vote in favour of funding more than $500 million worth of repairs over 10 years on the F.G. Gardiner Expressway. The divided highway, which is elevated from…