News
Man injured while repairing a truck was not involved in an “accident”: Ontario arbitrator
September 20, 2011 by Canadian UnderwriterA man who sustained a head injury while repairing a truck is not eligible for accident benefits because repairing a vehicle does not constitute “the use” of a vehicle, and hence the man was not involved in a motor vehicle…
Injured insureds in Ontario worse off after auto insurance reforms, alliance of health care providers says
September 20, 2011 by Canadian UnderwriterInsureds injured in motor vehicle accidents are now worse off as a result of Ontario’s auto insurance reforms, according The Alliance of Community Medical and Rehabilitation Providers.The Alliance has 80 member companies and represents 3,500 health care providers, including physiotherapists,…
Causal link for SEC to go after Canadian companies is “minute”
September 20, 2011 by Canadian UnderwriterRegulators around the world are cracking down on corrupt practices, putting companies at increased risk of “crippling” prosecution and, in some situations, the causal link between a company and the claim need only be minute for a foreign regulator to…
Increase in cyber claims reflects increasing dependency on IT systems
September 20, 2011 by Canadian UnderwriterThere has been a 56% increase in cyber claim notifications over the last year at Willis. “The rise is reflecting the evolving regulatory environment and a growing dependency on IT systems,” Willis broker Jeremy Smith told Lloyds.com. A number of…
Shift in piracy trends: Aon
September 20, 2011 by Canadian UnderwriterThere is an increase in overall piracy activity, but a general decline in successful attacks on vessels over the last year, according to Aon Risk Solutions. Aon’s Piracy Update uses data collected from 2009 to 2011 by the company’s kidnap…
Hurricane Maria hits Newfoundland as Category 1
September 19, 2011 by Canadian UnderwriterHurricane Maria didn’t live up to its expectations when it made landfall as a Category 1 hurricane in the Avalon Peninsula area of Newfoundland on Sept. 16. The Canadian Hurricane Centre (CHC) predicted on Sept. 15 that Maria’s highest winds…
B.C. risk manager Glen Frederick receives the 2011 Donald M. Stuart Memorial Award
September 19, 2011 by Canadian UnderwriterGlen Frederick, director of client services for the Government of British Columbia, received the Donald M. Stuart Memorial Award during the 2011 Risk and Insurance Management Society (RIMS) Canada Annual Conference in Ottawa on Sept. 19. The Donald M. Stuart…
Farmers’ Mutual Insurance Company (Lindsay) joins Broker Identity Program
September 19, 2011 by Canadian UnderwriterThe Farmers’ Mutual Insurance Company (Lindsay) has become a full partner of the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program (BIP).IBAC launched the program 23 years ago to promote the value and professionalism of the insurance broker to…
Ontario courts expand interpretation of “ordinary drivers”: RIMS panelist
September 19, 2011 by Canadian UnderwriterThe interpretation of ‘ordinary driver’ in Ontario’s courts has expanded to include those drivers who “sometimes make mistakes,” and has thus increased municipalities’ exposure to liability for not keeping safe roads.Steven Stieber, a managing partner at Stieber Burlach LLP, spoke…
U.S. commercial lines see price increases across the board for the first time in eight years
September 16, 2011 by Canadian UnderwriterU.S. commercial insurance prices increased in aggregate by nearly 1.5% during 2011 Q2, the first time in eight years (since 2003 Q4) that all standard commercial lines showed an uptick in pricing, according to a study by Towers Watson.Towers Watson…
AIR Worldwide lowers Hurricane Irene loss estimate for Bahamas
September 16, 2011 by Canadian UnderwriterAIR Worldwide has revised its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between US $200 million and $400 million (previously $300 million to $700 million). The revision for the Bahamas is based on a refinement…
Chesterfield Canada renews sponsorship of junior hockey player
September 16, 2011 by Canadian UnderwriterChesterfield Canada Inc. has renewed its sponsorship of Dalton Smith, a hockey player with the Ottawa 67’s. Smith will continue into the 2011-12 season, following his signing by the Columbus Blue Jackets. The 19-year-old has signed a three-year entry-level contract.…