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Insurer’s duty to defend is broader than duty to indemnify: Ontario court

May 12, 2009 by Canadian Underwriter

The Ontario Superior Court has ruled that an insurer has a duty to defend an insured even when the conduct of the claimant — specifically, whether that conduct was illegal — is at the heart of the issue of whether…

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Catastrophe severity will affect pace of hardening market in 2009: Advisen

May 12, 2009 by Canadian Underwriter

The severity of the 2009 catastrophe season is a wild card in determining the speed at which the commercial insurance market will harden this year, says a recent briefing by Advisen, ‘The Insurance Market in 2009: A Market Poised for…

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What’s New: In Brief (May 12, 2009)

May 12, 2009 by Canadian Underwriter

The Saskatchewan Mutual Insurance Company (SMI) is continuing its investment as a full partner of the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program.“SMI is pleased to continue its support of the Broker Identity Program,” Laura Wiebe, president and…

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What’s New: In Brief (May 12, 2009)

May 12, 2009 by Canadian Underwriter

Winmar Franchise Corp. has opened a new franchise in Medicine Hat, Alberta located at 1275 Brier Park Way NW.Brian and Sharon Schwieger have owned and operated Desert Restoraton Services since 2007, servicing Medicine Hat, Brooks and all surrounding areas. Brian…

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Nova Scotia NDP would scrap auto injury cap; replace with a deductible

May 11, 2009 by Canadian Underwriter

The NDP in Nova Scotia has dragged auto insurance into the province’s current political campaign, promising to scrap the existing Cdn$2,500 cap on insurance payments for minor auto injuries and replacing it with some form of deduction instead.Nova Scotia NDP…

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Standard business interruption coverage not well-equipped to handle H1N1: Marsh

May 11, 2009 by Canadian Underwriter

Influenza A (H1N1) could result in significant disruptions to the operation of a business, but there are few instances in which a standard business interruption policy will provide coverage, according to a recent Marsh report, Influenza A (H1N1) — Business…

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What’s New: In Brief (May 11, 2009)

May 11, 2009 by Canadian Underwriter

Richard Hoskins has been appointed executive vice president and CFO of the North American region or Aviva North America effective May 11. Aviva’s North America region includes its U.S. life and annuity business and Canadian property and casualty company.Hoskins previously…

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Alberta rate board seeks permission to move to file-and-use system for setting auto insurance rates

May 11, 2009 by Canadian Underwriter

The Alberta Automobile Insurance Rate Board (AIRB), which regulates the province’s auto insurance rates, is seeking approval from the provincial government to introduce a new file-and-use system for determining auto insurance rates. In a “pure” file-and-use system, insurers can file…

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Kingsway Financial Services to exit Canadian cross-border trucking business

May 8, 2009 by Canadian Underwriter

Kingsway Financial Services Inc. (TSX: KFS, NYSE: KFS) has announced it intends to exit the Canadian cross-border trucking business and further reduce its staff head count in the wake of a 2009 Q1 loss.The company reported a 2009 Q1 net…

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What’s New: In Brief (May 08, 2009)

May 8, 2009 by Canadian Underwriter

BCAA Insurance is introducing a 5% discount on collision premiums for vehicles equipped with Electronic Stability Control (ESC). ESC is a computer-controlled safety device that monitors the vehicle’s direction compared to the direction of the steering wheel. The device is…

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EGI Financial Holdings posts 2009 Q1 loss of $230,000

May 8, 2009 by Canadian Underwriter

EGI Financial Holdings Inc. (TSX: EFH) reported a 2009 Q1 loss of $230,000, down 108.9% from its 2008 Q1 profit of about $2.6 million.“Despite our extensive re-engineering of the niche products division’s Emergency Travel Health (ETH) program and an encouraging…

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AIG reports US$4.35 billion loss in 2009 Q1

May 8, 2009 by Canadian Underwriter

American International Group Inc. (AIG) reported a 2009 Q1 net loss of US$4.35 billion, compared to 2008 Q1’s net loss of US$7.81 billion.General insurance net premiums written were US$10 billion in 2009 Q1, a 17.5% decline compared to the same…