News
St. Catharines council to discuss support for non-profit, car-sharing initiative
July 6, 2012 by Canadian UnderwriterThe City of St. Catharines, Ontario is scheduled to discuss a car-sharing proposal at its next council meeting on July 9. The city is being asked to support, in principle, a partnership with the People’s Car Co-operative Inc. to establish…
Ontario drivers concerned about auto theft, but are not taking precautions
July 5, 2012 by Canadian UnderwriterMore than 60% of Ontario car owners surveyed by Angus Reid incorrectly believe they are fully covered by insurance if their vehicles are stolen. LoJack Canada, which distributes vehicle recovery and tracking systems, commissioned the online survey, which was conducted…
European insurers experience premium growth in 2011
July 5, 2012 by Canadian UnderwriterEurope’s Top 10 insurers saw their 2011 written premiums increase by 3% over the previous year, despite turbulence over the sovereign debt crisis in the euro zone, according to a recent report by Spanish-based insurer Fundación Mapfre. Insurers in the…
Saskatchewan experiencing an active twister season, no major damage in latest tornado
July 5, 2012 by Canadian UnderwriterSaskatchewan is now clear of tornado warnings, but not before one twister – and possibly two – touched down on July 3. Video from storm chasers in an area near Lake Diefenbaker showed a tornado touching down southeast of Outlook,…
Canadians taking expensive risk by not buying travel insurance: BMO Insurance study
July 5, 2012 by Canadian UnderwriterCanadians who vacation without travel insurance are taking an expensive risk that they won’t be sick or injured while away. Findings from BMO Insurace’s online Summer Travel Insurance Study, conducted last month by Pollara and involving a random sample of…
Most firms fail to continuously monitor risk: Deloitte/Forbes survey
July 4, 2012 by Canadian UnderwriterA minority of executives and risk managers monitor risk on a continuous basis, according to a recent poll by Deloitte & Touche LLP and Forbes Insights. The survey reported that less than 25% of respondents said they continuously monitor risk,…
Climate change could lead to increased wildfire activity in North America over the next 30 years: Berkeley study
July 4, 2012 by Canadian UnderwriterClimate change is expected to disrupt future fire patterns, with some regions, such as the western United States, seeing more frequent blazes within the next 30 years, notes a study in the peer-reviewed journal Ecosphere. Conducted by researchers at the…
Scientific precision not required to prove “but for” causation: Supreme Court
July 4, 2012 by Canadian UnderwriterScientific precision is not a necessary condition to find “but for” causation on a balance of probabilities, the Supreme Court of Canada has found. The court ordered a retrial in a motorcycle accident case, in which the trial judge found…
B.C. broker receives reprimand for failing to witness client’s signature on ICBC documents
July 4, 2012 by Canadian UnderwriterA 17-year veteran broker in B.C. received a reprimand on June 26 for failing to witness a signature at a car dealership because she was in a hurry to serve another client. B.C. Insurance Council admonished Anjaline Lata Kuhn and…
Reinsurance renewals see “targeted” underwriting approach on mid-year renewals
July 3, 2012 by Canadian UnderwriterReinsurers are using a highly “segmented approach” to pricing and underwriting renewal business for June 1 and July 1 renewals, Willis Re notes in a recent release of its 1st View report Looks Can be Deceiving. The reinsurance arm of…
Federal funding cuts planned to emergency preparedness initiatives
July 3, 2012 by Canadian UnderwriterThe federal government plans to cut funding to the Joint Emergency Preparedness Program (JEPP) at a time when decisions and response related to a deadly roof collapse in Elliot Lake, Ontario have come under fire. The Heavy Urban Search and…
Canadians should learn more about vehicle safety features: Traffic Research Group
July 3, 2012 by Canadian UnderwriterMany drivers are unaware of standard safety features in modern vehicles, even though these have been shown to prevent crashes and reduce injuries, notes a poll released by the Traffic Injury Research Foundation (TIRF). The survey, which asked 2,506 Canadians…