Segment
Claims
Common law spouse of husband who dies of injuries sustained in home fire cannot receive full home insurance payout until estranged children of spouse are contacted: judge
March 31, 2011 byThe widow of a common-law husband, who died without a Will as a result of injuries from a fire that engulfed their insured home, cannot receive the balance of the home insurance payment until her husband’s estranged children can be…
Snowmobile Acceleration and Braking Performance
March 31, 2011 Ken Iliadis; Pamela D'AddarioUnderstanding the acceleration and braking performance of a vehicle is crucial when reconstructing an accident. As experts, we are often asked how fast a vehicle was travelling or whether a driver could have braked to avoid a collision? Answers to…
Insured doesn’t know about policy cancellation if registered notification comes back as “unclaimed”: arbitrator
March 31, 2011 byAn insurance company cannot presume a policyholder knows his or her insurance has been cancelled when a registered letter informing the insured about the cancellation is stamped “unclaimed” by Canada Post, an Ontario arbitrator has found. Marcia Walker was injured…
Salvaging the Bottom Line
March 31, 2011 David AllanThe most recent financial crisis has left ripples in almost every industry, and insurance is certainly no exception. It has forced businesses and consumers alike to adopt a new way of thinking – one of frugality and financial responsibility. Even…
Aviva Canada claims data show increased frequency, severity of water claims costs
March 29, 2011 by Canadian UnderwriterForty per cent of Aviva Canada’s home insurance claims are a result of water damage, the insurer reports, and costs to repair the damage have nearly tripled over the past decade.Aviva Canada paid out over $124 million in property water…
Global insurance industry sees spike in natural catastrophe claims in 2010
March 29, 2011 by Canadian UnderwriterNatural catastrophes cost the global insurance industry roughly $40 billion in 2010, and man-made disasters triggered additional claims of more than $3 billion, marking a significant spike over the total insured losses of $27 billion in 2009, reported Swiss Re.Though…
Spring has arrived – and so have potholes
March 29, 2011 by Canadian UnderwriterState Farm in Canada, CAA-Quebec and glass dealers in Atlantic Canada are cautioning the public about one of the traditional rites of Spring — potholes.Most roadways are built in layers, starting with earth and gravel for drainage and then covered…
ICBC invests in road safety, sees five to 12 times return on investment
March 28, 2011 by Canadian UnderwriterThe Insurance Corporation of British Columbia invested roughly $9 million in 2010 on 280 road improvement projects throughout the province, saving itself and its customers five to 12 times that amount. The road improvement program was launched in 1989, and…
The Co-operates donates funds to help rebuild Co-ops in Japan
March 28, 2011 by Canadian UnderwriterThe Co-operators has contributed $100,000 to the International Co-operative Alliance’s (ICA) Japan Disaster Recovery Fund. The Fund was established to support the rebuilding of co-operatives in Japan following the March 11 earthquake and tsunami.The ICA is an independent non-governmental organization,…
Policy Billing Services Inc appoints president, CEO
March 28, 2011 by Canadian UnderwriterStuart Bruce has been appointed the first president and CEO of Policy Billing Services Inc. Policy Bill is a national insurance billing services company. It provides the ‘back office’ for insurance billing and premium financing subsidiaries owned by insurance brokers,…
Ontario insurance regulator outlines insurers’ rights and responsibilities in curbing “questionable or abusive claims”
March 25, 2011 by Canadian UnderwriterOntario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), has issued a bulletin outlining an insurer’s “rights and responsibilities to challenge questionable or abusive claims.”The bulletin comes in the wake of the province’s auto insurance reforms, implemented on Sept.…
B.C. sees increase in frequency, severity of bodily injury claims
March 25, 2011 by Canadian UnderwriterB.C.’s public insurer is concerned the number of bodily injury claims climbed about 5% between 2009 and 2010, reversing a longstanding trend, according to a report in the Vancouver Metro.The Metro cites ICBC spokesman Adam Grossman as saying there were…