News
Trillium Management Services acquires Indiana auto insurer
November 18, 2009 by Canadian UnderwriterTrillium Management Services Inc., founded by former Kingsway Financial Services Inc. president Bill Star, has reached a definitive agreement to acquire Geneva Insurance Company Inc. of Indianapolis, Indiana. Geneva provides personal automobile insurance with a concentration on non-standard auto insurance…
Lloyd’s Canada’s reinsurance market deemed Part XIII compliant
November 18, 2009 by Canadian UnderwriterLloyd’s Canada’s reinsurance market is compliant with the amendments to Part XIII of the Insurance Companies Act of Canada, including the business that it has written over the past 10 years.Deborah Moor, president of Lloyd’s Canada served as the keynote…
What’s New: In Brief (November 18, 2009)
November 18, 2009 by Canadian UnderwriterInsurance Bureau of Canada (IBC) is cautioning that current conditions in British Columbia’s Fraser Valley are similar to those that led to floods of the Fraser Valley in 2003 and 2007.The provincial, federal and municipal governments have made significant investments…
What’s New: In Brief (November 18, 2009)
November 18, 2009 by Canadian UnderwriterResidents in Queen Charlotte/ Haidi Gwaii and the North Coast of British Columbia awoke to a 6.5 magnitude earthquake on Nov. 17, 2009 morning. As of press time there were no reports of major damage. The quake occurred near the…
Pennsylvania insurance regulator seeks legal action against Kingsway
November 17, 2009 by Canadian UnderwriterThe Pennsylvania Department of Insurance (DOI) is taking legal action against Kingsway Financial Services, Inc. (TSX, NYE: KFS) to unwind the company’s donation of its shares of Lincoln General Insurance Company to charities.Kingsway announced in October 2009 that it had…
Landlords can delegate snow removal to tenants, but not in tenancy agreement: Ontario Court of Appeal
November 17, 2009 by Canadian UnderwriterA landlord can delegate snow removal tasks to tenants, but this must be done in a contractual agreement separate from the tenancy agreement, the Ontario Court of Appeal has ruled in a slip-and-fall case.“In order to be effective, a clause…
What’s New: In Brief (November 17, 2009)
November 17, 2009 by Canadian UnderwriterQuebec’s Joint Report — a report used by drivers to report collisions in which no one was hurt — has been in existence for 30 years, but only 28% of the province’s drivers have used it. A poll commissioned by…
Claims increase almost 40% in winter weather: Aviva Canada
November 17, 2009 by Canadian UnderwriterAviva Canada sees an average increase of more than 38% in claims during the winter months compared to the rest of the year. A result of weather-related incidents, slippery roadways and white-out conditions accounted for more than Cdn$38.5 million in…
CCIR survey on credit scoring suggests absence of disclosure
November 16, 2009 by Canadian UnderwriterForty-two per cent of Canadian property and casualty companies that use credit-based insurance (CBI) scores — representing 17% of market share — do not disclose an adverse affect of the CBI scores to policy applicants or policyholders, according to a…
Courts hold lower threshold for price-fixing class action certification
November 16, 2009 by Canadian UnderwriterTwo recent decisions in Ontario and British Columbia certifying class actions alleging price fixing indicate that the courts in Canada may be adopting a new approach to these types of claims, potentially opening the door to more litigation in this…
What’s New: In Brief (November 16, 2009)
November 16, 2009 by Canadian UnderwriterThe Saskatchewan government is introducing legislation to ban texting and talking on hand-held cell phones while driving.June Draude, Saskatchewan Government Insurance (SGI) minister, introduced the new law on Nov. 12 in the legislative assembly. “Using a cell phone to talk…
What’s New: In Brief (November 16, 2009)
November 16, 2009 by Canadian UnderwriterPembridge Insurance Company has announced a joint venture with Brovada Technologies that is intended to offer real-time transactions aimed at improved connectivity with brokers and more efficient broker workflows.“Pembridge has listened to the concerns of independent insurance brokers to become…