News
Crawford & Company (Canada) appoints two new branch managers
May 18, 2010 by Canadian UnderwriterBrian Hambly has been promoted to branch manager of Crawford & Company (Canada) Inc.’s Toronto East branch. Hambly joined Crawford in 1995. He specializes in commercial auto and CGL claims, and has been the control adjuster for several car rental…
MSB teams up with Compu-Quote to launch replacement cost calculator
May 18, 2010 by Canadian UnderwriterMarshall & Swift/Boeckh (MSB) has teamed up with Compu-Quote Inc. to launch a replacement cost calculator. MSB will integrate its RCT technology into Compu-Quote’s RCT EvaluRater product to form the Replacement Cost Technology EvaluRater. The product is intended to “significantly…
iClarify officially rolled out across Ontario
May 18, 2010 by Canadian UnderwriteriClarify is now available to all Ontario brokers. The insurance-to-value initiative is a joint effort between Compu-Quote Inc. and SCM’s Risk Management Services (RMS). It allows brokers to retrieve street level and satellite photographs, as well as information on 12…
Ontario’s new electronic health claims processing system, HCAI, to be re-launched on May 22
May 18, 2010 by Canadian UnderwriterHaving been in dry-dock for repairs since April 2008, Ontario’s new Health Claims for Auto Insurance (HCAI) electronic claims processing system will be officially re-launched on May 22, 2010.The re-introduction of HCAI is just in time for Ontario’s auto reforms,…
2010 a “mixed bag” for P&C industry: OSFI
May 17, 2010 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) says it believes 2010 will be a “mixed bag” for the Canadian property and casualty financially, with capital levels improving, but the introduction of enterprise risk management (ERM) still lagging behind…
Saskatchewan regulates sale of incidental insurance
May 17, 2010 by Canadian UnderwriterSaskatchewan has passed a new set of regulations targeting the sale of incidental insurance by unlicensed insurance agents. The Saskatchewan Insurance Act Amendment Regulations 2010 specify types of business entities allowed to be licensed to sell insurance through unlicensed employees,…
Canada’s oil sands face risks potentially greater than those in the Gulf of Mexico oil spill: Ceres report
May 17, 2010 by Canadian UnderwriterCanada’s oil sands “face significant financial and environmental risks” at least as great as those of the Deepwater Horizon spill in the Gulf of Mexico, according to a new report commissioned by Ceres.Ceres is a coalition of investors, environmental groups…
FICOM warns insurers of interest rate risk in volatile markets
May 17, 2010 by Canadian UnderwriterBritish Columbia’s regulator is warning property and casualty insurers about interest rate risk in the existing volatile financial markets and the potential affects on insurers’ assets and liabilities.Financial Institutions Commission (FICOM) has issued a bulletin advising insurers to review the…
“Scope for more flat-fee arrangements” with lawyers handling claims: procurement manager
May 14, 2010 by Canadian UnderwriterAlthough 95-98% of insurers’ legal bills for handling claims files still follow a billable-hours fee structure, “there is scope for more flat-fee arrangements,” Lori Brazier, claims procurement manager for Aviva Canada, told a seminar at the CIP Society Symposium 2010…
Insurer successfully proves arson as the cause of a car fire
May 14, 2010 by Canadian UnderwriterThe Ontario Superior Court of Justice has dismissed a claim for damages resulting from a vehicular fire, determining instead that arson caused the fire.In Salihi v TD General Insurance Company, Najib Ullah Salihi attempted to sue his auto insurer for…
WICC doubles fundraising goal for Relay for Life
May 14, 2010 by Canadian UnderwriterThe Women in Insurance Cancer Crusade (WICC) Relay For Life committee has increased its 2010 fundraising goal to $444,000 — double the amount raised in 2009. Relay For Life is an outdoor community event run by the Canadian Cancer…
DAS Canada receives Letters Patent as Canada’s newest insurance company, to specialize in legal expense insurance
May 14, 2010 by Canadian UnderwriterCanada’s Minister of Finance has issued Letters Patent to DAS Legal Protection Insurance Company Limited (DAS Canada), making it the first insurer in the country to specialize in offering legal expense insurance. The company will provide customers with policies that…