Segment
Claims
International business law firms seek to enter Canadian space through tie-ins with Canadian insurance and business law firms
March 7, 2011 by Canadian UnderwriterInternational business law firms are aiming to make their way into the Canadian market through tie-ins with local Canadian law firms, including firms working in the insurance area.Most recently, legal media reported United Kingdom insurance specialist Clyde & Co is…
Insurers may want to “try hardest” to settle claims with self-represented litigants: judge
March 4, 2011 by Canadian UnderwriterGiven the additional time, effort and expense required to try cases involving self-represented litigants, insurers might want to give special consideration to settling these cases early, a Nova Scotia judge observed at the Canadian Defence Lawyers 7th Annual Insurance Symposium…
Good faith claims may just ‘distract’ from common law principles that apply to insurance contracts: lawyer
March 4, 2011 by Canadian UnderwriterAn insurer’s duty to act in good faith may not actually mean much beyond the standard common law doctrines that apply to insurance contracts, according to Roderick Winsor of Blaney McMurtry LLP.Winsor is the author of Good Faith in Canadian…
RMS releases major upgrade to its U.S. hurricane model
March 4, 2011 by Canadian UnderwriterRisk Management Solutions (RMS) has released a “major” upgrade to its U.S. hurricane model.The latest version of the model incorporates 10 times more onshore and offshore wind observation data since the last hazard update in 2003. Also, it incorporates the…
Protecting against the loss of a key business figure
March 3, 2011 by Canadian UnderwriterLloyd’s of London is offering “key-man insurance” as a way to protect a company from economic loss if a key person in the organization dies or leaves as a result of illness.“It is a sad fact that in the workplace,…
Ontario Court of Appeal holds up marijuana exclusion clause
March 2, 2011 by Canadian UnderwriterThe Ontario Court of Appeal has upheld a marijuana exclusion clause when landlords tried to make a claim for damages arising from an explosion on their property caused by a tenant running a marijuana grow-up.In Pietrangelo v. Gore Mutual Insurance…
Swiss Re estimates paying $800 million for claims related to New Zealand earthquake
March 2, 2011 by Canadian UnderwriterSwiss Re estimates its claims costs arising from the Feb. 22, 2011 earthquake in Christchurch, New Zealand will be approximately $800 million, net of retrocession and before tax.Swiss Re estimated total insured claims for the insurance sector for the earthquake…
FSCO settlement related to IRBs can be deducted from a court award, not a settlement related to disability benefits: Ontario court
March 2, 2011 by Canadian UnderwriterThe Ontario Court of Justice has ruled that a FSCO settlement for income replacement benefits (IRBs) counts as a “collateral benefit” and is therefore deductible from a court award, but a settlement from the Ontario Superior Court related to short-…
Insurers should think beyond compliance and remediate fuel spills to pre-spill conditions: environmental lawyer
March 1, 2011 by Canadian UnderwriterInsurers should consider the multiple benefits of remediating fuel spills to pre-spill conditions, even if new Canadian regulatory guidelines for handling and cleaning fuel spill sites apply to contaminated and Brownfield sites and not to domestic fuel spills.John Tidball, environmental…
Ontario Insurance Adjusters’ Association Professional Development & Claims Conference
March 1, 2011 by Canadian UnderwriterMore than 150 exhibitors from across Canada appeared at the Ontario Insurance Adjusters’ Association (OIAA)’s Professional Development & Claims Conference in Toronto on Feb. 9, 2011. The event featured a trade show and seminars covering a wide variety of timely…
It Can Happen Here
March 1, 2011 David GambrillThe current hardship in Christchurch, New Zealand is a grim reminder that Western Canada needs to be far better prepared to protect itself against a similar threat of earthquake here in Canada.
Greater Toronto Area Fellow of Distinction Award
March 1, 2011 by Canadian UnderwriterThe CIP Society, a division of The Insurance Institute of Canada, selected Paul Green, BA, FCIP, as the 2011 recipient of the Greater Toronto Area Fellow of Distinction Award. Green’s award was presented at The CIP Society’s Annual Fellows’ Reception…