Segment
Claims
New Brunswick announces new flood mitigation plans
October 3, 2012 by Canadian UnderwriterThe province of New Brunswick has announced flood mitigation plans, including spending up to $8 million on relocation and flood-proofing in the Perth-Andover and Tobique First Nation regions. Environment and Local Government Minister Bruce Fitch had recently announced interim mitigation…
Bundled policies mean higher U.S. homeowner satisfaction: J.D. Power survey
October 2, 2012 by Canadian UnderwriterInsurers have a greater chance of achieving customer satisfaction if they bundle other policies with a homeowner policy, notes the most recent version of J.D. Power and Associates U.S. national homeowners insurance study. The 12th edition of the survey shows…
Commercial prices climb in second quarter
October 2, 2012 by Canadian UnderwriterRates for commercial insurance increased by an average 6% in the second quarter of 2012, marking the sixth consecutive quarter that aggregate prices rose for all commercial lines, notes a recent survey by Towers Watson. Price increases were seen in…
Preparedness demands leaders who envision big-picture issues
October 1, 2012 by Canadian UnderwriterPreparedness in the event of a catastrophic event could prove the difference between life and death, economic resilience and recovery, Don Forgeron, president and CEO of the Insurance Bureau of Canada, told delegates to the National Insurance Conference of Canada…
Investor group to buy Cunningham Lindsey
October 1, 2012 by Canadian UnderwriterAn investor group led by private equity firm CVC Capital Partners has announced it will acquire majority ownership in international claims adjuster Cunningham Lindsey after a recapitalization agreement. Stone Point Capital has had a majority ownership of Cunningham Lindsey since…
Auto Impact Stalled
October 1, 2012 Lee Samis, Principal, Samis & CompanyIt is two years later, but the story on the effects of Ontario’s 2010 auto reforms is yet to be told. Absent clear case law, there has been little to silence the voices of disagreement that were heard when the reforms first came into force.
Making Something out of Nothing
September 30, 2012 Matt Mulholland, senior manager, Matson, Driscoll & Damico Ltd.Business Interruption Claims and the Start-up Enterprise
Ontario Court of Appeal overturns lower court’s decision in catastrophic impairment case
September 28, 2012 by Canadian UnderwriterThe Ontario Court of Appeal has found in favour of a woman claiming catastrophic impairment from her insurer, Aviva Canada, overturning a lower court’s decision. Pastore v. Aviva Canada Inc. concerns a woman who was injured after being hit by…
Homeowner insurance claims costs in U.S. rose rapidly in last 15 years: report
September 26, 2012 by Canadian UnderwriterHomeowner insurance claims costs in the United States have risen rapidly in the past 15 years, mainly because of increased severity and frequency of the claims, a new report suggests. Trends in Homeowners Insurance Claims, a study by the Insurance…
Lloyd’s posts highest interim profit in five years
September 26, 2012 by Canadian UnderwriterLloyd’s of London has reported an interim profit of £1.53 billion (about $2.4 billion) for the first half of 2012 (ending June 30), the highest in five years. This is despite 2011 being what the company calls “the most expensive…
FSCO awards medical marijuana costs in catastrophic injury case
September 25, 2012 by Canadian UnderwriterA Financial Services Commission of Ontario arbitrator recently found in favour of a claimant seeking payment for medical marijuana from her insurer, more than a decade after the original auto collision that caused her injuries. A FSCO arbitrator awarded $567.60…
Customer satisfaction with auto insurers increases, but generational divide is clear: study
September 25, 2012 by Canadian UnderwriterSatisfaction with Canadian auto insurance carriers has improved across all regions in the country since last year, mainly because of fewer premium increases and improved policy offerings, according a new study from J.D. Power and Associates. The 2012 Canadian Auto…