Segment
Claims
Nova Scotia court allows doctors’ notes as limited exception to hearsay rules
November 19, 2008 by Canadian UnderwriterThe Nova Scotia Supreme Court has allowed the admissibility of six doctors’ records in a personal injury case even though the physicians were not available to testify, but the opinions contained in the doctors’ records are not admissible as truth.In…
Capital markets, bad weather bite into Desjardins’ 2008 Q3 profits
November 17, 2008 by Canadian UnderwriterDesjardins Group reported a 2008 Q3 profit of Cdn$149 million, down Cdn$99 million or 39.9% from the corresponding quarter last year. The company’s quarterly return on equity (ROE) fell to 6.2% compared to 11.0% in 2007 Q3.“These results reflect the…
‘Evaluative’ mediators may reach agreements quicker than traditional ‘facilitative’ mediators
November 14, 2008 by Canadian UnderwriterIn insurance mediation, there are two different styles of mediators: facilitative and evaluative, and choosing the proper style could affect the timeliness of an agreement, Michael T.J. McGoey, defence counsel, Hughes Amys, told delegates at The Arc Group Canada’s third…
Most people fail in key negotiation technique; Arc delegates told
November 14, 2008 by Canadian UnderwriterListening is key in the art of negotiation and a technique most people fail to adhere to, Gordon Kirke, lawyer, principal KSR Sports Representatives Inc., told delegates at the third annual Arc Group Seminar in Toronto on Thursday. Kirke spoke…
ING Canada reports drop in investment income, increase in underwriting income
November 12, 2008 by Canadian UnderwriterING Canada Inc. (TSX: IIC) has reported a quarterly net income of Cdn$57.3 million, marking a 37.7% decrease from 2007 Q3’s profit of Cdn$92.0 million.The insurer’s combined ratio for the quarter was 94.0%, a decrease from 2007 Q3’s combined ratio…
Abuse of process doctrine applies in civil cases, Ontario Appeal Court finds
November 10, 2008 by Canadian UnderwriterThe abuse of process doctrine — which says it is an abuse of the court process to re-litigate negligence that has already been established during a previous criminal trial — does in fact have application in a civil trial, the…
Court blames insurers for draining the public purse during coverage dispute
November 4, 2008 by Canadian UnderwriterAn Ontario Superior Court judge has issued a strong rebuke to the insurance industry for failing to resolve coverage disputes between insurers quickly, thereby causing a public fund to pay statutory benefits to victims during the time it takes to…
Study finds 6% of U.S. teen drivers report driving while unlicensed, unsupervised
November 3, 2008 by Canadian UnderwriterOne out of 25 (or 4.2%) of Grade 9 to Grade 11 students in the United States report driving at least one hour a week without supervision, according to research undertaken by The Children’s Hospital of Philadelphia and State Farm…
Insurers should think more like judges when drafting insurance contracts
October 27, 2008 by Canadian UnderwriterInsurers and brokers need to think more like judges when they read or draft insurance policy contracts, because judges will ultimately determine whether or not policy coverage exists in a claim situation, a litigator told brokers attending an education session…
Lloyd’s reports US$2.34 billion in estimated net claims for Gustav and Ike
October 21, 2008 by Canadian UnderwriterLloyd’s is expected to face net claims of US$2.34 billion for Hurricanes Gustav and Ike, representing both onshore and offshore claims, according to a provisional estimate. This is in line with analysts’ estimates of an aggregate US$20-25 billion industry loss,…
FSCO sets ground rules for “private” meetings with DAC assessors prior to DAC hearing testimony
October 17, 2008 by Canadian UnderwriterA Designated Assessment Centre (DAC) assessor may meet privately with counsel for either a claimant or an insurer prior to testifying at a hearing, and that meeting will not necessarily affect the neutrality of the DAC assessor’s evidence presented at…
J.D. Power and Associates releases results of its insurance consumer satisfaction survey
October 16, 2008 by Canadian UnderwriterState Farm scored highest in customer satisfaction among private full-coverage automotive service providers that were ranked in an inaugural customer satisfaction survey conducted by J.D. Power and Associates.Runners-up for customer service in private auto insurance included belairdirect and Johnson Insurance.J.D.…