Ontario’s Ministry of Revenue has informed the Insurance Brokers Association of Ontario (IBAO) that all-terrain (ATV) owners might be eligible for a tax refund based on the classification under which they may have insured their vehicles. Prompted by an IBAO…
Agriculture Financial Services Corp. an Alberta crown corporation (with a private-sector board of directors) that provides farmers and agribusinesses with crop insurance and farm income disaster assistance paid out a record of more than 7,200 hail-related claims this year.The Edmonton…
Underwriters need to beware of seemingly “harmless” business interruption (BI) coverages such as for interdependent and contingent losses, power outages and the financial consequences of prevented access that could accumulate into a big payout should a claim occur, Swiss Re…
Temple Insurance Company has affirmed the company’s financial strength rating of A. The outlook for the company’s financial strength rating has been revised to positive. According to A.M. Best Co. the ratings and outlook reflect its “view that Temple maintains…
Two men struggling for control of a rented vehicle made it difficult to assess vicarious liability in a case involving the interpretation of an Insurance Act exclusion, and a motions judge erred in deciding the factual issues by means of…
Facultative reinsurers are exploring capital markets techniques that could boost their competitive position in hard markets, while at the same time allowing underwriters to reduce excess capital in soft markets, Benfield has written in the 08 edition of The Fac…
The Loyalist Insurance Group Limited has sold its retail insurance brokerage asset to Brownstone Holdings Inc.The estimated proceeds to Loyalist will be approximately Cdn$5 million in cash, according to a Loyalist release. This transaction is expected to close in January…
Only a small proportion of the 2007 flood losses in the United Kingdom was ceded to reinsurers, while most of the damage losses were absorbed by the direct insurance industry, a Guy Carpenter report says.According to the report, Wrong Type…
An Ontario Superior Court judge has ordered an insurer to defend a pizza company on allegations that the company’s “30-minutes-or-it’s-free” delivery policy caused driver negligence leading to a collision.Pizza Pizza Limited faces court allegations of negligence in relation to its…
A kanetix.ca study suggests that the soft market in auto insurance is hardening, and that consumers may soon get hit with higher auto insurance premiums, according to a company release. Rates quoted for auto insurance over the past year have…
The federal government should streamline the operations and priorities of Export Development Canada (EDC) by narrowing EDC’s activities to improve competition in the export insurance business, according to a recent report by C.D. Howe Institute.C.D. Howe also advocated the privatization…
Ontario’s ministry of transportation has not followed up on why novice drivers enrolled in the province’s Beginner Driver Education (BDE) program crash at higher rates than drivers who did not participate in the program, Ontario’s auditor general says.In his 2007…