News
Marsh Ltd. cautions clients that excess liability carriers are adding Deepwater Horizon policy exclusions
July 7, 2010 by Canadian UnderwriterCertain excess liability carriers are expected to add broadly worded, event-specific exclusions to their 2010-2011 policies to prospectively eliminate coverage for the Deepwater Event, according to an online posting by Marsh Ltd.“Although Marsh is engaged in discussions with these carriers…
Expect judges to use ‘life joys’ to determine serious injuries: Hughes Amys LLP
July 6, 2010 by Canadian UnderwriterInsurance defence lawyers believe Ontario’s judiciary will increasingly use the concept of “life joys” to determine whether or not auto injuries meet the threshold of “serious” injuries, according to an article in Hughes Amys LLP newsletter Noteworthy.“The concept of ‘life…
SGI Canada flooded with property claims amidst foul weather
July 6, 2010 by Canadian UnderwriterSGI Canada has received a total of approximately 4,700 property and auto insurance claims as a result of the foul weather plaguing Saskatchewan over the past few months.All told, since April 2010, there have been 3,000 property claims estimated at…
ASCnet names Steven D. Johnson as new CEO
July 6, 2010 by Canadian UnderwriterSteven D. Johnson has been named CEO of the Applied Systems Client Network (ASCnet).Johnson has held staff leadership roles in five associations over the last 26 years. Most recently, he was executive director of the National Association of Quick Printers.…
PPG Canada Inc. appoints new director of Refinish Canada
July 6, 2010 by Canadian UnderwriterJean-Guy Rosa has been named director of Refinish Canada for PPG Canada Inc. Rosa joined PPG in 1992 and has held positions of increasing responsibilities within training, value-added services and most recently as regional manager for Quebec and the Atlantic…
Manitoba drivers caught with cell phones face $200 fine as of July 15, 2010
July 5, 2010 by Canadian UnderwriterManitoba drivers caught texting or using hand-held cell phones could face a fine of almost $200 under a new law that takes effect July 15, 2010, Infrastructure and Transportation Minister Steve Ashton has announced.The new law comes under amendments to…
Compu-Quote launches Ontario auto reform updates
July 5, 2010 by Canadian UnderwriterOntario brokers are now able to access Ontario auto reform updates through Compu-Quote Inc.’s AutoRater product.The program has been updated with the latest-approved rating formulae for more than 50 different insurance plans, anticipating the Sept. 1, 2010 implementation of the…
Possible F3 tornado touches down in Saskatchewan
July 5, 2010 by Canadian UnderwriterA possible F3 tornado touched down just outside of Raymore, Saskatchewan on July 3, reports Environment Canada.Raymore is southeast of Saskatoon.Initial assessments from photos and videos of the damage suggest the tornado was a strong F2 or a weak F3,…
Major losses in Q1 fail to stem softening of reinsurance market
July 5, 2010 by Canadian UnderwriterMajor property losses in 2010 Q1, originating from the Chile earthquake and storms in Australia, have had little impact on pricing in the global reinsurance market, reports Willis Re.There has been no general market move towards increased pricing in property…
Ontario broker’s license revoked for serving clients unknown to her brokerage
July 2, 2010 by Canadian UnderwriterOntario’s broker regulator has revoked the broker’s license of Careen Edwards for a history of serving clients of whom her brokerage was unaware.Registered Brokers of Ontario (RIBO) began investigating Edwards after a client walked into the office where she worked…
Timing, location and strength of Hurricane Alex portends busy season: AIR Worldwide
July 2, 2010 by Canadian UnderwriterHurricane Alex, the first hurricane in the 2010 season, is now a spent force, having done about $200-million worth of insured damage in Mexico, according to modeler AIR Worldwide.The Category 2 hurricane has dissipated into a storm system that is…
Large capital cushion suppresses July reinsurance renewal rates: Guy Carpenter
July 2, 2010 by Canadian UnderwriterA large capital cushion continues to suppress global reinsurance rates, according to a briefing paper from reinsurance broker Guy Carpenter.“Further erosion of rates was evident at the July 1, 2010 reinsurance renewal,” Guy Carpenter says in its news briefing, posted…