Segment
Claims
Hurricane Ida downgraded to tropical storm
November 9, 2009 by Canadian UnderwriterHurricane Ida is losing momentum as it heads towards the Gulf Coast, with hurricane warnings for U.S. gulf coast states being changed to tropical storm warnings. The National Hurricane Center issued an advisory on Nov. 6 indicating that Ida had…
Bad driving could be in the genes
November 3, 2009 by Canadian UnderwriterGenetics might be to blame for poor driving, according to a new study from the University of California Irvine. People with a gene variant performed 20% worse on a driving test than those without the variant, neuroscientists at the University…
What’s New: In Brief (November 03, 2009)
November 3, 2009 by Canadian UnderwriterNo processing issues have arisen after five weeks of active participation in the Health Claims for Auto Insurance (HCAI) pilot phase.Two insurers, Gore Mutual and State Farm Mutual Auto, and nine health care facilities began their participation in this voluntary…
Co-Operators cite increase in claims costs for dramatic drop in Q3 net income
November 2, 2009 by Canadian UnderwriterCo-Operators General Insurance Company announced a net loss of Cdn$16.1 million for 2009 Q3, compared to a net profit of Cdn$22.2 million for the same quarter in 2008.The combined ratio for the quarter was 113.2%, compared to 103.5% in 2008…
IBC to pilot new tool to assess municipal climate change risks
October 30, 2009 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has approved Cdn$1-million pilot project for a new municipal risk assessment tool that will help insurers assess climate change risks.The new tool is intended to collect key data that will help insurers better understand the…
Travel insurance is the best way to handle H1N1-related trip cancellations, airlines say
October 29, 2009 by Canadian UnderwriterThe Public Health Agency of Canada has issued travel guidance asking Canadians sick with the H1N1 virus to postpone their travel plans — and has requested that airlines make it easier for travelers to re-book their flights.The airlines have responded…
What’s New: In Brief (October 28, 2009)
October 28, 2009 by Canadian UnderwriterThe New Brunswick Insurance Board held a public hearing on Oct. 27 to consider an auto insurance rate filing by IAO Actuarial Consulting Services Inc. (IAO), which recommends an average rate decrease of 6.02% for 2010.The outcome of the meeting…
Insurer’s suspicion of potential litigation not enough to allow plaintiff to pierce insurer’s solicitor-client privilege: Ontario court
October 27, 2009 by Canadian UnderwriterAn insurer’s suspicion about the potential for litigation is not enough of a reason to grant plaintiffs access to insurer documents subject to solicitor-client privilege, the Ontario Superior Court has ruled.In Kavanagh v. Peel Mutual Insurance Company, the court upheld…
Court upholds denial of claim for abandoned possessions
October 27, 2009 by Canadian UnderwriterThe Ontario Superior Court has upheld the insurer’s denial of a claim for allegedly stolen possessions that were moved into storage after a plaintiff abandoned his home.In Harris v. Home Trust Company, Steven Harris entered into a policy with Meloche…
Nova Scotia brokers “optimistic” about government’s willingness to negotiate future of the auto cap
October 26, 2009 by Canadian UnderwriterCLARIFICATION: The following piece is intended to clarify remarks attributed to IBANS president Ken Myers, as reported by Canadian Underwriter in an online item entitled, “Only a matter of time before Nova Scotia cap is scrapped, premier suggests to brokers.”…
What’s New: In Brief (October 26, 2009)
October 26, 2009 by Canadian UnderwriterAbout 1,600 collisions with wildlife are reported to Manitoba Public Insurance each November. This makes November the worst month for wildlife-related collisions, followed closely by October, which sees an average of 1,300 collisions with wildlife reported. More than 10,000 wildlife…
CEOs debate whether a single tool for estimating reconstruction costs would help solve the ITV problem
October 23, 2009 by Canadian UnderwriterWould adherence to a single tool for estimating reconstruction costs help to resolve the insurance-to-value (ITV) issue?Insurance company CEOs debated the point at the 89th annual convention of the Insurance Brokers Association of Ontario (IBAO), held in Toronto on Oct.…