Segment
Claims
Ontario moves toward wage freeze for doctors through “rebalancing” OHIP fees
May 7, 2012 by Canadian UnderwriterOntario is moving toward a real wage freeze for doctors, expected to result in savings of $338.3 million in 2012-2013. “The government is updating and rebalancing OHIP fees to better reflect current medical practices and new technologies and to avoid…
EQECAT releases Japan quake model
May 4, 2012 by Canadian UnderwriterEQECAT has released an earthquake model for catastrophic risk that uses three-dimensional representation of seismic source geometry to capture Japan’s unique seismic settings. Incorporated into EQECAT’s global multi-peril platform, the Japan model offers region-specific innovations in both hazard and vulnerability.…
Severe U.S. weather in April causes more than $650 million in insured damage
May 4, 2012 by Canadian UnderwriterSevere weather damage in the United States in April 2012 resulted in at least 105,000 claims and insurance payments exceeding $650 million, notes an Aon-Benfield report. In its April 2012 Global Catastrophe Recap, Aon Benfield references a major severe weather…
CARSTAR holds seminar on paintless dent repair estimating and techniques
May 4, 2012 by Canadian UnderwriterMore than 50 CARSTAR insurance partners attended a Paintless Dent Repair (PDR) estimating and techniques training seminar in April at CARSTAR’s corporate head office and training facility, CARSTAR Vision Park in Hamilton, Ontario. The three-hour course provided attendees both classroom and…
Co-operators quarterly profit increases based on auto reforms, good weather
May 3, 2012 by Canadian UnderwriterCo-operators General Insurance Company (Co-operators General) reported its 2012 Q1 profit increased to $66.5 million from $25.8 million during the same period last year. “Earnings in the first quarter were positively impacted by favourable claims results from the Ontario auto…
Forget catastrophes, regulation is top concern for U.S. insurance executives: Lloyd’s
May 3, 2012 by Canadian UnderwriterRegulation is the number one challenge facing the U.S. insurance industry despite the financial burden associated with the elevated number of catastrophes in 2011, a Lloyd’s survey of insurance executives in April reveals. Lloyd’s canvassed 100 insurance executives at the…
Crawford names Global Technical Services leaders
May 3, 2012 by Canadian UnderwriterCrawford & Company (Canada) Inc. has named five adjusters as Global Technical Services (GTSSM) leaders within the areas of commercial property, transportation, environmental and media, entertainment and contingency. “The GTS leaders in each of these groups are experts in their…
Ontario Appeal Court muddies waters regarding homeowner coverage of innocent co-insureds
May 3, 2012 by Canadian UnderwriterThe Court of Appeal for Ontario has issued a ruling that may have muddied the waters concerning homeowner coverage of innocent co-insureds. “There may now be coverage for an innocent co-insured who is alleged to have failed to act to…
Mutuals should handle diversification with caution: Willis Re
May 2, 2012 by Canadian UnderwriterAlthough some mutuals are being encouraged to explore new lines of business or enter new territories, a report from Wills Re cautions this is intrinsically riskier for the insurers, adding that mutuals should ensure any such move is a good…
Creating transparency in the Canadian insurance market
May 2, 2012 by Canadian UnderwriterInsureEye Inc. has introduced an online service intended to enhance transparency and provide consumers with a sneak peek at reviews for home, auto and life insurance. Touted as a first in Canada, the independent and consumer-driven tool was rolled out…
Proposed Vancouver bylaw would require companies shipping oil by tanker to carry enough marine insurance to pay for spill
May 1, 2012 by Canadian UnderwriterVancouver city council is considering a bylaw proposal put forward by Mayor Gregor Robertson to have companies that ship oil by tanker to carry enough marine insurance to cover costs should a spill occur. If passed, the bylaw would require…
Manitoba introduces legislation to protect consumers against unfair car repair bills
May 1, 2012 by Canadian UnderwriterManitoba has proposed new legislation intended to protect consumers against unfair car repair bills. The rules would apply to repairs done by businesses to vehicles such as cars, trucks, or motorcycles. They would not apply to repairs completed as part…