News
Recent Supreme Court of Canada decision settles certain points about litigation privilege
August 31, 2007 by Canadian UnderwriterA recent decision by the Supreme Court of Canada in Blank v. Canada 2006 SCC 30 settles certain points regarding litigation privilege, Ted Bock, partner, Aikins, MacAulay & Thorvaldson LLP, told attendees during at seminar the Canadian Independent Adjusters Associations…
Any breach of care by an insured must be identified and reviewed
August 31, 2007 by Canadian UnderwriterCausation is the link that must be established between a defendants wrong and the plaintiffs loss; the plaintiff must prove that but for the defendants negligence any harm would not have occurred, Anthony Fletcher, lawyer, Filmore Riley LLP, told attendees…
What’s New: In Brief (August 30, 2007)
August 30, 2007 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) teamed up with the Ontario Provincial Police (OPP) and several regional police forces to uncover a substantial auto theft ring in the Toronto area, recovering more than Cdn$1.5 million worth of stolen vehicles.The joint-force,…
Loyalist reports decrease in revenues for Q2
August 30, 2007 by Canadian UnderwriterThe Loyalist Insurance Group Limited announced revenues for the company decreased Cdn$76,173 from Cdn$473,953 in 2006 Q2 to Cdn$397,790 in 2007 Q2. Total company expenses were down from Cdn$613,397 in 2006 Q2 to Cdn$586,644 in 2007 Q2.The company reported a…
What’s New: In Brief (August 29, 2007)
August 29, 2007 by Canadian UnderwriterPilot Insurance Company is continuing its investment as a full partner of the Broker Identity Program for 2007, the Insurance Brokers Association of Canada (IBAC) announced. Pilot is proud to continue as a Full Partner of the Broker Identity Program,…
What’s New: In Brief (August 29, 2007)
August 29, 2007 by Canadian UnderwriterSasktel and SGI are partnering to help new drivers develop safe cell phone habits by offering six months of free voice messaging service to new drivers who are also SaskTel cellular customers. The service is intended to minimize distractions on…
Lack of underwriting discipline in commercial P&C industry: CIAB survey
August 28, 2007 by Canadian UnderwriterCommercial property-casualty insurance rates continued their free-fall during 2007 Q2 in a marketplace environment described as totally unpredictable in terms of pricing and underwriting, according to a commercial market index survey by U.S.s Council of Insurance Agents & Brokers (CIAB).…
Kingsway Financial announces two appointments
August 28, 2007 by Canadian UnderwriterKingsway Financial Services Inc. has announced the appointments of Serge Lavoie to president and chief executive officer of Jevco Insurance Company and Colin Simpson to the position of president and chief executive officer of York Fire & Casualty Insurance Company.I…
Desjardins reports income increase of 70.8% for first half of ’07
August 27, 2007 by Canadian UnderwriterDesjardins Financial Security reported an income of Cdn$1.386 billion for the first half of 2007.Gross insurance premiums accounted for $1.178 billion, marking an increase of 12%, or $126.2 million, a Desjardins statement says.The company recorded growth of 7.2% in Quebec…
New president at the CIAA
August 27, 2007 by Canadian UnderwriterFred Plant assumed the role of president of the Canadian Independent Adjusters Association during the Presidents Dinner at the associations annual general meeting and conference in Winnipeg. Miles Barber, immediate past-president, passed the presidential hat, noting Plant would bring insight…
Narrowing supply chains create business continuity risks
August 24, 2007 by Canadian UnderwriterBusiness continuity risks are heightened as global manufacturers cut costs by narrowing the supply chain, making it crucial that risk managers understand the function of each link on the supply chain, warns Lloyds. Traditionally firms cant insure against business interruption…
AMF proposes derivatives regulatory framework
August 24, 2007 by Canadian UnderwriterThe Autorit des march financiers (AMF) is seeking comment on a proposed framework for the regulation of the derivatives market in Quebec. The proposal contains suggested legislation and regulation as well as policy statements, an AMF release says.A derivative is…