News
Liability lurks in positive employee references on social media: Advisen
October 27, 2011 by Canadian UnderwriterAn employer offering an employee a positive recommendation through social media is exposing the employer to potential liability, Advisen warns.In its OneBeacon-sponsored report, Social Media: Employers’ Liability for the Activities of their Employees, Advisen said the potential for a company…
Alberta auto insurers reminded to ensure premium arrears still recoverable before denying or cancelling policy
October 27, 2011 by Canadian UnderwriterAlberta auto insurers cannot deny or cancel an auto policy on the ground of premium arrears if those arrears are more than two years old and therefore may not be recoverable, the province’s regulator clarified in a bulletin. Section 613.1(3)…
AIR Worldwide estimates up to $170 million for Turkey quake
October 26, 2011 by Canadian UnderwriterA Magnitude 7.2 earthquake that struck in the province of Van, Turkey on Oct. 23 caused insured losses of between $55 million and $170 million, AIR Worldwide says.In the three days since the event, at least 400 aftershocks above Magnitude…
Reinsurers failing to finance peak risks effectively
October 26, 2011 by Canadian UnderwriterReinsurance industry stakeholders need to focus on more than just rate movements, Frank Majors, managing principal at Nephilia Capital Ltd., told delegates of Guy Carpenter’s Baden-Baden Reinsurance Symposium.“Predicting price movement ignores more important questions,” a Guy Carpenter release quoted him…
Insurance Institute of Ontario names four recipients of scholarship
October 26, 2011 by Canadian UnderwriterThe Insurance Institute of Ontario announced four recipients of the John E. Lowes Insurance Education Fund Scholarships for 2011.The John E. Lowes Insurance Education Fund is a charitable trust dedicated to assisting Ontario students to complete full-time, post-secondary education, including…
New Brunswick landlords, Moncton fire chief encourage apartment tenants to purchase insurance: CBC report
October 26, 2011 by Canadian UnderwriterThe president of the New Brunswick Apartment Owners Association (NBAOA) and Moncton’s fire chief are calling for people who live in multi-unit buildings to get tenants’ insurance after a fire destroyed a 16-unit building in Moncton on Oct. 23, according…
Strata (condo) owners could be subject to proposed new tribunal for resolving strata property disputes
October 26, 2011 by Canadian UnderwriterStrata (condominium) owner-developers could be subject to the jurisdiction of a proposed new tribunal model for dispute resolution in strata properties, according to the B.C.’s Office of Housing and Construction Standards.The province has posted a discussion paper online that outlines…
High rate of claimants in the MIG explained by backlog of arbitrations: plaintiffs’ lawyer
October 25, 2011 by Canadian UnderwriterCurrently, 75% to 80% of auto accident claimants in Ontario are ending up within the Minor Injury Guideline (MIG), but this should be of false comfort to insurers, said Adam Wagman, a lawyer with Howie Sacks & Henry LLP.Wagman represented…
Hurricane Rina heads for Mexico’s luxury resort areas
October 25, 2011 by Canadian UnderwriterHurricane Rina, a Category 2 hurricane, is expected to make landfall on Mexico’s Yucatan peninsula in the early hours of Oct. 27. Rina is packing winds of 165 km-h and is expected to produce eight to 16 inches of rainfall…
Canpro King-Reed LP announces new brand CKR Global
October 25, 2011 by Canadian UnderwriterCanpro King-Reed LP has announced its new brand, CKR Global.Canpro Global Services Inc. and King-Reed & Associates LP amalgamated in June of 2011 to create Canpro King-Reed LP, the largest full-service risk mitigation and investigation company in Canada. The new…
Manitoba’s Eastman Region the Number 1 spot in the province for deer/vehicle collisions
October 25, 2011 by Canadian UnderwriterThe Eastman Region of Manitoba is the Number 1 area for vehicle-deer collisions, according to Manitoba Public Insurance (MPI).There are about 1,800 collisions a year in the region – including Lac du Bonnet, Pine Falls, Birds Hill and St. Malo.Rounding…
U.S.-based Energi enters Canada to provide risk management and brokerage services for energy firms
October 25, 2011 by Canadian UnderwriterEnergi, a U.S. provider of risk management and insurance brokerage services to energy firms, has formed a wholly owned subsidiary, Energi of Canada LTD, and is entering the Canadian insurance market. Initially, Energi will offer its Energy Property Insurance Program…