Segment
Claims
Thunder Bay, Montreal floods cause $200 million in damage
July 31, 2012 byInsurance Bureau of Canada (IBC), citing data from Property Claim Services Canada (PCS-Canada), reports that the estimated insured damage caused by the recent wind and thunderstorm event that hit Ontario and Quebec amounts to more than $200 million. PCS-Canada tracks…
Allianz reports space “junk” a growing problem
July 31, 2012 byA growing proliferation of “man-made space junk” threatens satellites and space stations, approximately a quarter of which are insured against losses from physical damage and service interruption, states a recent report from Allianz Global Corporate & Specialty (AGCS). The study,…
Counting heads
July 31, 2012 byDemographics and the adjuster
Duty to Serve
July 31, 2012 Craig HarrisIncoming CIAA president John Seyler feels a strong sense of giving back to the independent adjusting profession
Statistics Canada reports break-ins and auto theft decreased in 2011
July 30, 2012 by Canadian UnderwriterStatistics Canada notes that police-reported, non-violent crimes such as break-ins and auto theft declined last year. “Police reported more than 181,000 break-ins in 2011,” Statistics Canada reported in its July 24 issue of The Daily. “The rate of break-ins was…
Rainstorms, flooding batter Japan, China
July 30, 2012 by Canadian UnderwriterA 20-hour storm in China on July 21 delivered as much as 18 inches of precipitation to parts of the country in and near the capital of Beijing (population 20 million), causing approximately $1.6 billion in economic damage, catastrophe modeller…
Most U.S. renters don’t carry insurance: Allstate survey
July 30, 2012 by Canadian UnderwriterFifty-four per cent of 1,000 renters surveyed by Allstate said it would take three or more years to replace everything they lost if they didn’t have insurance, and yet only 45% of renters taking part in the poll have a…
Beyond Insurance Brokers Inc. opens new office in Thunder Bay
July 30, 2012 by Canadian UnderwriterBeyond Insurance Brokers Inc. has opened a new office in Thunder Bay, Ontario. The new location on Roland Street, which operates under the name Beyond Insurance (Superior) Inc., means the company’s insurance services will be available to the northern parts…
Anti-Fraud Task Force committee seeks public input on proposed measures to combat auto insurance fraud
July 27, 2012 by Canadian UnderwriterThe Steering Committee of the Ontario Auto Insurance Anti-Fraud Task Force is seeking public comment on several potential recommendations before it submits its final report to the government in the fall of 2012. The steering committee also reported its difficulty…
Pocket bike is not an automobile for insurance purposes: FSCO arbitrator
July 27, 2012 by Canadian UnderwriterAn insurance company has won an appeal that a motorized pocket bike should not be considered an automobile for insurance purposes under the Ontario Statutory Accident Benefits Schedule (SABS). Motors Insurance Corporation appealed the original ruling by Financial Services Commission…
Sunrise Propane explosion in Toronto causes more than $25 million in property damage: lawsuit
July 26, 2012 by Canadian UnderwriterThe law firms representing plaintiffs in an action arising out of a deadly propane explosion in Toronto four years ago report the blast caused more than $25 million in property damage. One employee and an emergency responder died following the…
Alberta Automobile Insurance Rate Board (AIRB) permits premium increase of up to 5%
July 26, 2012 by Canadian UnderwriterAlberta’s Automobile Insurance Rate Board (AIRB) is permitting premium levels for mandatory automobile insurance in the province to increase by as much as 5%, effective Nov. 1. As part of the competitive process, insurance companies have the option to implement…