News
John Foreman named as interim executive director of ORBiT
January 27, 2012 by Canadian UnderwriterThe Organization of Real Time Brokers Implementing Technology (ORBiT) has appointed John Foreman as interim executive director. ORBiT Canada is a national not-for-profit organization of Canadian insurance brokers and carriers dedicated to the advancement of real time transactions in the…
Electrical issues cited in fires that gut three churches over the past two months
January 27, 2012 by Canadian UnderwriterFires have gutted three churches in Canada within the past two months, each of the fires the result of electrical issues, Ecclesiastical Insurance has reported.The churches were located in Port Alberni, British Columbia, Stoney Creek, Ontario and on Newfoundland’s Avalon…
Ontario court finds property transfers by convicted auto insurance fraudster represent an effort to put assets out of reach
January 27, 2012 by Canadian UnderwriterThe Ontario Superior Court of Justice has upheld a summary judgment that set aside two property transfers by a convicted auto insurance fraudster over to his wife, ruling that the conveyances represented an attempt to put his assets out of…
H.W. Kaufman Financial Group acquires Chesterfield Canada Inc.
January 27, 2012 by Canadian UnderwriterThe H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, has acquired Chesterfield Canada Inc. as part of a broader deal announced on Jan. 27. The larger transaction involves Kaufman Financial Group purchasing Chesterfield…
FSCO seeks help from private dispute resolution companies to help clear backlogs
January 26, 2012 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) is seeking help from up to four private dispute resolution companies to help eliminate a backlog of files, estimated to be more than nine months as of May 2011. FSCO posted a Request…
Appeal Court upholds judge’s decision to strike jury in auto injury trial involving pre-existing medical condition
January 26, 2012 by Canadian UnderwriterThe Ontario Court of Appeal ruled a trial judge was justified in striking a jury at the outset of an auto accident injury trial involving a pre-existing medical condition (fibromyalgia).The trial judge ruled that the anticipated complexity of the medical…
Availability and cost of coverage dominate concerns among commercial insurance buyers
January 26, 2012 by Canadian UnderwriterAn overwhelming 96% of brokerages surveyed believe their insurance buyer clients are most concerned about availability and cost of coverage, according to The Independent, a global coalition of privately owned insurance brokerages and risk management service firms.The Independents surveyed its…
XL teams up with Accenture to launch multi-channel claims portal
January 26, 2012 by Canadian UnderwriterXL Group plc launched a new multi-channel customer portal, created with the help of Accenture, that provides customers with access to claims information via XL’s website and through mobile devices. The XL GlobalClaim Customer Portal offers real-time access to claims-related…
Symbility Solutions acquires MSB’s claims division
January 26, 2012 by Canadian UnderwriterSymbility Solutions is acquiring Marshall & Swift/Boeckh (MSB)’s claims divisions, including contracts, claims employees, software and analytics assets. In consideration for these assets and a cash investment, MSB’s parent company, Decision Insight Information Group, will become the largest shareholder with…
Trial judge should have considered effect on costs of settlement offer that didn’t conform to Rules of Civil Procedure: Appeal Court
January 25, 2012 by Canadian UnderwriterAn Ontario trial judge erred by not considering the mitigating factor on costs of a reasonable settlement offer that did not conform to the Rules of Civil Procedure, the Ontario Court of Appeal ruled in a consolidated auto injury tort…
Canadian commercial rates likely to remain stable: Marsh
January 25, 2012 by Canadian UnderwriterCanadian commercial insurance rates are expected to remain stable across most lines of business in 2012, continuing a trend that began in the second half of 2011, according to a report by Marsh. In its report Navigating the Risk and…
Lloyd’s syndicate launches director defence costs product
January 25, 2012 by Canadian UnderwriterLloyd’s syndicate Navigators has launched the “first ever” directors and officers’ product to protect corporate directors specifically for defence costs, Lloyd’s reported. A recent judgement in Australia’s High Court against directors of Bridgecorp, a company that went bankrupt in 2007,…