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Court can’t split trial if jury notice is served and one of the parties objects

January 21, 2009 by Canadian Underwriter

The Ontario courts have no jurisdiction to split a trial in which a jury notice is already filed and one of the parties to the action objects, the Ontario Superior Court of Justice has found.The case arose out of a…

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Downward economy sees cedants seeking “last-minute” reinsurance deals at renewals

January 21, 2009 by Canadian Underwriter

The downward economic turn has resulted in a “late” renewal season as of Jan. 1, 2009, with cedants waiting until the last minute to nab the best deal in a hardening market, A.M. Best has noted in an online video.The…

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Organizational changes at Crawford & Company (Canada) Inc.

January 21, 2009 by Canadian Underwriter

Crawford & Company (Canada) Inc. has made organizational changes within its senior management that are intended to enhance the company’s strategic growth initiative and customer focus. Pat Van Bakel has been promoted to senior vice president of claims operations. He…

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Risk management should be a collective enterprise, not an individual one

January 21, 2009 by Canadian Underwriter

The current global economic turmoil and credit crisis does not signify enterprise risk management (ERM)’s failure, but rather an over-reliance on financial models, said participants in the Ontario Risk and Insurance Management Society (ORIMS)’s ‘Lunch and Learn’ session.Held in Toronto…

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What’s New: In Brief (January 20, 2009)

January 20, 2009 by Canadian Underwriter

Trevor Black has been promoted to branch manager in St. Catharines for Cunningham Lindsey Canada Claims Services Ltd (CLC).  “Trevor has a number of exciting plans for our St. Catharines office, namely quality measurement, training and education,” Lorri Frederick, CLC’s…

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RIMS Q4 Benchmark Survey indicates soft market losing steam

January 20, 2009 by Canadian Underwriter

Commercial insurance rates in the United States are still softening, but at a much slower pace than recent quarters, the Risk and Insurance Management Society (RIMS)’s Benchmark 2008 Q4 Survey found.The average general liability premium fell more than any other…

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Alberta first out of the gates to adopt CCIR privilege model

January 20, 2009 by Canadian Underwriter

Lang Michener author Frank Palmay has praised Alberta for being the first provincial jurisdiction in Canada to extend privilege to cover an insurer’s self-assessment documents.“Alberta’s approach is a reasonable balance of the equities and it is hoped that its lead…

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North American broker profitability in 2009 expected to be flat or modestly lower

January 20, 2009 by Canadian Underwriter

Looking ahead into 2009, the profitability of the North American insurance broker industry is expected to be flat or modestly lower, Fitch Ratings says in a recent report, Review and Outlook 2008-2009.In making its assessment, Fitch noted the “economic recession…

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Loss reserve adequacy may drive ratings, S&P’s says

January 19, 2009 by Canadian Underwriter

Given the unprecedented volatility in the financial markets, insurers’ loss reserve adequacy, which had been a matter of secondary consideration in the past few years, may once again drive ratings, Standard & Poor’s said in a recent report.The article, Insurers’…

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What’s New: In Brief (January 19, 2009)

January 19, 2009 by Canadian Underwriter

Jean Chretien, former Prime Minister of Canada, will be the keynote luncheon speaker at the 2009 National Insurance Conference of Canada (NICC).The conference will be held from Wednesday, Sept. 30 until Friday, Oct. 2 at the Ottawa Westin. Registration for…

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Scourge of piracy of concern to insurers

January 19, 2009 by Canadian Underwriter

The scourge of piracy on the international high seas in 2008 reached a new, alarming dimension, according to recent reports by Munich Re and the Piracy Reporting Centre (PRC).The PRC is part of the International Maritime Bureau (IMB) of the…

News Insurance

What’s New: In Brief (January 19, 2009)

January 19, 2009 by Canadian Underwriter

Sovereign General Insurance Company is offering a new form of insurance coverage intended to help British Columbians upgrade to ‘environmentally-responsible’ building products when repairing or rebuilding their home after an insured loss.The new insure2green coverage allows British Columbians whose homes…