Segment
Claims
Defence Duo
November 2, 2012 Michael Teitelbaum, Partner, Hughes Amys LLPAn Ontario court has held that both an auto and a home insurer are obliged to defend in an action for personal injury because of the potential for concurrent liability. With all facts not yet available, the judge signalled he was not prepared to permit one of two insurers to avoid a possible duty to defend or indemnify.
Perceived fair settlement increases satisfaction with U.S. auto claims experience
October 31, 2012 by Canadian UnderwriterThe perception that settlement terms were fair drove claimant satisfaction with their claims experience for auto physical damage loss higher in 2012, despite the fact that overall consumers in the United States are paying more for out-of-pocket expenses, notes a…
P&C insurers well-positioned to take on losses from Sandy: A.M. Best
October 30, 2012 by Canadian UnderwriterA “relatively quiet” 2012 has left property and casualty insurers well-positioned to take on losses from the major storm that has hit the eastern United States, rating agency A.M. Best Company has said. “Superstorm” Sandy, which began as a hurricane…
Claims adjusters, insurers ramp up resources for Hurricane Sandy
October 29, 2012 by Canadian UnderwriterSeveral independent claims services and restoration companies are ramping up their resources for the inevitable losses to occur from Hurricane Sandy in the eastern United States and Canada. Crawford and Company Canada has said its adjusters in southern Ontario, southern…
Number of large claims for global power industry rising: report
October 25, 2012 by Canadian UnderwriterThe global power industry has seen an increase in the number of large insured claims over the last several years, a troubling trend as insurers may become more reluctant to write business for that industry, suggests a recent report from…
Heavy rain drenches parts of southern New Brunswick
October 22, 2012 by Canadian UnderwriterSouthern New Brunswick was hit by heavy rainfall on Oct. 20, with Environment Canada estimating that precipitation in some regions could exceed 70 mm. “These conditions could lead to localized flooding, particularly where normal drainage systems are overwhelmed,” noted a…
Concerted effort key to winning online consumer: IBAO
October 18, 2012 by Canadian UnderwriterAdopting a collaborative approach that focuses on common initiatives, as opposed to company-specific efforts, represents the best way for brokers to win the online client, Rick Orr, president of the Insurance Brokers Association of Ontario (IBAO), said during the IBAO’s…
Nova Scotia offers homeowners, businesses financial assistance for uninsurable damage
October 12, 2012 by Canadian UnderwriterBasic recovery assistance will be available to homeowners, business owners and not-for-profit organizations in central Nova Scotia affected by flooding in the wake of heavy rains on Sept. 9 to 11 that accompanied Tropical Storm Leslie. Leslie made landfall in…
Study indicates average cost of data breach increases to $3.7 million
October 10, 2012 by Canadian UnderwriterLegal damages accounted for the majority of the $3.7 million average cost per data breach that occurred between 2009 and 2011, notes a new whitepaper from NetDiligence, based in Philadelphia. Cyber Liability & Data Breach Insurance Claims: A Study of…
Economic losses from September floods in Asia more than $7.5 billion: Aon
October 5, 2012 by Canadian UnderwriterSeasonal monsoon rains leading to major flooding in Asia this September caused about $7.5 billion in economic losses, reinsurance company Aon Benfield noted in its monthly Global Catastrophe Recap report. Much of that loss was in China, where flooding caused…
Ontario auto insurance industry could be tougher on fighting fraudulent claims: lawyer
October 4, 2012 Harmeet Singh, Online EditorOntario’s auto insurance industry isn’t in as bad a situation as than many may think, but it should take a much tougher stance when taking on fraudulent claims, according to one Toronto lawyer. “I think with the last reforms for…
Four homes, bridge destroyed by southern Manitoba grass fires
October 4, 2012 by Canadian UnderwriterManitoba fire departments have continued to fight grass fires that began earlier in the week in the southeast part of the province, after four homes and a timber bridge were destroyed. Four homes in and around the town of…