News
B.C. court orders limited disclosure of Facebook profile and vacation photos
May 1, 2012 by Canadian UnderwriterThe B.C. Supreme Court has ordered a law school graduate student injured in a car accident to disclose Facebook and vacation photos showing her participating in physical activities. The plaintiff in the case, Tamara Fric, is claiming for damages resulting…
Ontario auto insurance rates decline by 0.18% in 2012 Q1
May 1, 2012 by Canadian UnderwriterOntario auto insurance rate filings approved during 2012 Q1 declined an average of 0.18%, based on the entire market. Rate filings for the Top 5 individual companies, ranked in order of market share, are: 1) State Farm Mutual Automobile Insurance…
Auto insurance improvements offset by catastrophes in 2011
May 1, 2012 by Canadian UnderwriterSomewhat encouraging results on the auto insurance front were offset by catastrophes that blighted the Canadian and global landscape in 2011. “Auto results improved only in Ontario where the direct auto loss ratio dropped by 18.5 points following a disastrous…
Proposed NDP private members’ bill would hike auto insurance rates in Ontario substantially: Liberal MPP
April 30, 2012 by Canadian UnderwriterOntario drivers would see auto insurance rates go up, and skyrocket in some parts of the province, if legislative amendments proposed by the NDP get the green light, a Liberal MPP suggests — a claim the NDP denies. Banning the…
U.S. consumers remained predominantly loyal to their auto insurers in 2011: J.D. Power
April 30, 2012 by Canadian UnderwriterU.S. auto insurance companies are spending more money to entice consumers, but without apparent effect, notes the J.D. Power and Associates 2012 U.S. Insurance Shopping Study released on Apr. 30. Now in its sixth year, the study examines consumer shopping…
FSCO issues consumer warnings about unlicensed brokerages, insurance card scams
April 30, 2012 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued a number of consumer warnings over the past few weeks, publicizing the names of unlicensed insurance brokerages and releasing details of fraudulent insurance card scams. In unrelated posts, FSCO has cautioned…
Olympic Games gets $7-billion backing for terrorism coverage
April 30, 2012 by Canadian UnderwriterA state-backed British reinsurer that covers terrorism-related property losses is providing $7.3 billion in insurance protection for the Olympic Games in London this summer, according to Reuters. Pool Re, set up in 1993 after bombings by the Irish Republican Army…
OSFI considers incorporating risk management benefits of diversification into its capital testing of insurers
April 30, 2012 by Canadian UnderwriterCORRECTION: This article first appeared on Apr. 20 with incorrect information. The version below represents the amended version, based on a follow-up interview with the Office of the Superintendent of Financial Institutions (OSFI). Canadian Underwriter apologizes for the errors contained…
Auto reforms appear to be making a difference: FSCO
April 27, 2012 by Canadian UnderwriterAccident benefits costs in Metro Toronto and the Greater Toronto Area (GTA) have been identified as an area of concern, but ongoing efforts seem to be helping rein in costs. The increase in accident benefit costs in the GTA dwarfed…
Few Canadian businesses incorporating climate change risk management into regular business activities: report
April 27, 2012 by Canadian UnderwriterRelatively few Canadian businesses have adopted a structured and explicit approach to incorporating climate change risk management and adaptation into their regular business activities, notes a recent study by the National Round Table on the Environment and the Economy (NRT).…
Ogilvy & Ogilvy sponsors Montreal 140 Conference
April 27, 2012 by Canadian UnderwriterOgilvy & Ogilvy in Westmount is sponsoring the Montreal 140 Conference, Investing in Social Media, Investing in Relationships, Investing in Community, scheduled for May 15, 2012 in Montreal. Mila Araujo, director of personal insurance at Ogilvy & Ogilvy Inc. (insurance…
Farhan Mohamed joins Burns & Wilcox as a personal insurance underwriter
April 27, 2012 by Canadian UnderwriterFarhan Mohamed has joined Burns & Wilcox Canada as a personal insurance underwriter and will lead the company’s High Net Worth Personal Insurance Centre of Excellence. Mohamed comes to Burns & Wilcox with more than 10 years of experience as…