News
Supply chain and business interruption losses due to earthquake in Japan may end up on the low end of the range
October 6, 2011 by Canadian UnderwriterInsured supply chain interruption (SCI) losses and contingent business interruption (CBI) losses arising out of the April 2011 earthquake in Japan seem likely to be much less than what they initially appeared.Paul Cutbush, Canadian property treaty line manager for Swiss…
IBAO and OSAID caution students not to drink and drive over holiday weekend
October 6, 2011 by Canadian UnderwriterInsurance Brokers Association of Ontario (IBAO) has partnered with the Ontario Students Against Impaired Driving (OSAID) to remind Ontario’s students travelling over the Thanksgiving holiday to exercise caution and to not drink and drive.“It’s an exciting time of year, as…
IBC responds to ‘Nor’easter’ in Maritime provinces, eastern Quebec
October 6, 2011 by Canadian UnderwriterInsurance Bureau of Canada (IBC) is reminding homeowners in the Maritimes to contact an insurance representative immediately if their properties or belongings suffered damage during a storm that hit the area on Oct. 5.On Oct. 5, a ‘Nor’easter’ moved over…
Ontario court upholds insurer’s motion to try tort and AB actions related to the same vehicle accident together
October 5, 2011 by Canadian UnderwriterThe Ontario Superior Court has upheld an insurer’s request to have a plaintiff’s tort action and accident benefits action – both of which relate to injuries allegedly sustained in a single motor vehicle accident – tried together.The plaintiff appealed the…
RIBO reminds brokers to use proper names in social media
October 5, 2011 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) is reminding brokers that the name or identity they use to market themselves or their business on social media sites must match the registered name of the individual broker or the business being…
Forensics Investigations Canada joins forces with Garda Investigative Services
October 5, 2011 by Canadian UnderwriterForensic Investigations Canada (FIC) has joined forces with Garda Investigative Services (GIS).FIC and GIS have entered into a strategic client referral agreement that “positions FIC as the provider of choice for corporate investigations outside of the Province of Quebec,” an…
State Farm cautions drivers of increased animal-collision risk
October 5, 2011 by Canadian UnderwriterA recent Transport Canada report found that between four and eight large animal vehicle collisions take place every hour in Canada, State Farm says in a press release.In addition, the Ontario Ministry of Natural Resources estimates there is a motor…
Audatex adds Volkswagen and Audi to VIN identification technology
October 5, 2011 by Canadian UnderwriterVolkswagen and Audi vehicles are now available on Audatex North America’s ‘AudaVIN,’ a vehicle identification technology solution.AudaVIN uses vehicle identification number [VIN] data to give insurance claim representatives, appraisers and collision repair estimators complete vehicle-specific information recorded by manufacturers on…
Proposal to increase Nova Scotia’s AB coverage estimated to cost drivers an average premium increase of between $6 and $7.50
October 5, 2011 by Canadian UnderwriterA proposal to increase Nova Scotia’s standard accident benefits package up to the higher limits contained in a Section 48 endorsement would result in an average premium increase of between $6 and $7.50 per driver. The Nova Scotia Utility and…
OSFI releases revised minimum capital test guidelines
October 4, 2011 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) has revised its Minimum Capital Test (MCT) guidelines for property and casualty insurers, effective Jan. 1, 2012.OSFI requested industry feedback for a draft MCT guideline in May. As a result of…
Glenn Gibson receives CIP Society’s leadership award
October 4, 2011 by Canadian UnderwriterGlenn Gibson, senior vice president of global strategy, projects and development at Crawford & Company (Canada) Inc. is the recipient of the Canadian Insurance Professional (CIP) Society’s ‘2011 Established Leadership Award.’The award recognizes individuals who have shown exceptional leadership abilities…
SUVS and pickups pose less risk to those in cars and minivans
October 4, 2011 by Canadian UnderwriterNew SUVs and pickups pose far less risk to people in cars and minivans than previous models, according to the Insurance Institute for Highway Safety (IIHS) Until recently, SUVs and pickups were more likely than cars or minivans of the…