News
Ontario PC Party Leader Tim Hudak vows to get tough on auto insurance fraud
October 21, 2010 by Canadian UnderwriterTim Hudak, leader of the Ontario Progressive Conservative Party, has vowed to crack down on fraudsters working in the auto insurance system should he become premier. Hudak addressed the Insurance Brokers Association of Ontario’s 90th Annual Convention in Niagara Falls…
Waivers more likely to reduce exposures in B.C. than in Ontario: B.C. defence counsel
October 21, 2010 by Canadian UnderwriterThe efficacy of waivers in reducing a company’s risk exposure is uneven in Canada, and is more likely to be effective in B.C. than in Ontario, according to Lorne Folick, senior partner at Dolden Wallace Folick LLP.Folick was discussing liquor…
Hagerty now offering collector boat insurance in Canada
October 20, 2010 by Canadian UnderwriterHagerty Classic Marine has expanded its collector boat insurance operations into Canada. Underwritten by Elite Insurance Company (a member of the Aviva Canada group of insurers), the new program is now available in Ontario and will be rolled out over…
U.S. soft market persists, but premium decreases are slowing down: RIMS survey
October 20, 2010 by Canadian UnderwriterSoft market conditions persisted in the United States during 2010 Q3, although the rate of the price decreases slowed, according to the RIMS Benchmark Survey. Every line of insurance tracked by the Advisen-administered survey posted a decrease in average premium.…
Insurers can see 7:1 return on investment by implementing anti-fraud practices
October 20, 2010 by Canadian UnderwriterBy proactively mitigating against fraud and investing in anti-fraud practices, insurers can see a potential return on investment of 7:1, according to Jeffrey T. Bowman, president and CEO of Crawford & Company. In the fall issue of Claims Advisor, Bowman…
CARSTAR adds an ‘Express’ location in Edmonton
October 20, 2010 by Canadian UnderwriterCARSTAR Automotive Canada Inc. announced the grand opening of CARSTAR Express South, in Edmonton, Alberta.The 2,000 square foot facility specializes in small repair, paintless repair, detailing and 3M paint protection film application. CARSTAR’s Express model specializes in the less severe damage…
Demand for professional indemnity coverage surges in Oct. 1 renewal season: Aon
October 20, 2010 by Canadian UnderwriterDemand for professional indemnity (PI) coverage by the legal profession surged nearly 400% over 2009 leading up to Oct. 1 renewals, reports Aon.By August 2010, Aon reported receiving nearly four times the number of proposals than the same time last…
Heavy losses fail to stem softening catastrophic reinsurance market: Guy Carp
October 20, 2010 by Canadian UnderwriterCatastrophe reinsurance prices in the US have continued to soften, despite heavy losses so far in 2010, reports Guy Carpenter.The trend is also true on a global level, save for a few local areas like Chile, that experienced catastrophic events,…
Selling a home is not proof of intention to buy new one, arbitrator rules
October 19, 2010 by Canadian UnderwriterOn an “expenses incurred” issue, an Ontario arbitrator has found a claimant catastrophically injured in a car accident is not obligated to purchase a new home before an insurer is liable to pay home modification benefits.Nevertheless, the arbitrator added, in…
Catlin Canada continues its expansion across Canada
October 19, 2010 by Canadian UnderwriterCatlin Canada will be expanding its presence across the country with the opening of two new offices – one in Montreal and one in Vancouver.The two offices will begin operating in early November, a Catlin release says.Pat Bruzzes, will lead…
MPI launches FINEOS claims technology
October 19, 2010 by Canadian UnderwriterManitoba Public Insurance (MPI) of Canada has gone live with FINEOS Claims to manage its claims for personal injury.FINEOS Claims is a Web-based universal claims software solution for property and casualty, life, disability and government insurance. “The project at MPI…
State Farm invests more than $94,000 in research on building safer homes
October 19, 2010 by Canadian UnderwriterState Farm has partnered with the University of Western Ontario’s Insurance Research Lab for Better Homes (IRLBH), also known as the “Three Little Pigs Project,” to help discover ways to make homes safer and building materials stronger.Since December 2009, State…