Segment
Claims
New coverage protects food industry against reputational damage following product recall
March 18, 2008 by Canadian UnderwriterFood producers must be better prepared to manage not only the possibility of a product recall, but any reputational damage that could sink the company as a result.“It takes 20 years to build a reputation, and about five minutes to…
Court allows second-hand evidence in accident benefits case
March 18, 2008 by Canadian UnderwriterAn Ontario Superior Court judge has allowed hearsay medical and real estate evidence to be given at an accident benefits trial arising from an automobile accident because the victim has since moved to a foreign jurisdiction.Hong v. Song arises from…
Average annual cost of auto repair expected to rise
March 17, 2008 by Canadian UnderwriterThe average annual cost of automotive repair is forecasted to increase to Cdn$1,141 in 2010 from Cdn$1,044 in 2006, according to the 2007 Outlook Study released by the Automotive Industries Association (AIA) of Canada. In the period spanning from 2001…
FSCO arbitrator requires disclosure of intended tort action against insurer
March 14, 2008 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has ordered Eva Wren, an applicant for arbitration with State Farm Mutual Automobile Insurance Company, to provide written notification as to whether or not she intends to advance a tort claim against the…
Red-light cameras increase intersection collisions, Florida study finds
March 13, 2008 by Canadian UnderwriterRed-light camera intersections established to improve traffic safety by discouraging drivers from running red lights have actually increased the number of intersection crashes, a University of South Florida Health Review article suggests.The University of South Florida research cites a number…
FSCO suspends HCAI Guideline
March 12, 2008 by Canadian UnderwriterFinancial Services Commission of Ontario (FSCO) has temporarily suspended the Health Claims for Auto Insurance Guideline (HCAI) at the request of the Insurance Bureau of Canada (IBC). In a letter to the Ontario insurance regulator dated Mar. 10, 2008, IBC…
Cat trends on the rise; floods at the crest of the wave
March 11, 2008 by Canadian UnderwriterCatastrophe-related economic losses from natural and man-made events around the world exceeded US$70 billion in 2007 US$28 billion of which were insured losses marking a trend towards an increase in the number and cost of natural and man-made events, says…
Jury instructions on general damage awards must include reasons for cap on damages
March 11, 2008 by Canadian UnderwriterA trial judge erred in a personal injury case when he informed a jury as to the existence of a Cdn$300,000 cap on non-pecuniary damage awards, but did not explain the policy reasons for the cap, the Ontario Court of…
What’s New: In Brief (March 11, 2008)
March 11, 2008 by Canadian UnderwriterManitoba Public Insurance (MPI) is doubling the number of its locations offering full licensing services, including written and road tests, vision screening and commercial vehicle registration.It is also constructing four new buildings, in addition to upgrading its existing buildings up…
Ontario court declines to apply 2007 insurance decision retroactively to 2002 case
March 10, 2008 by Canadian UnderwriterThe Ontario Superior Court has dismissed a motion for summary judgment by the Pilot Insurance Company to end a court action against it by the province’s Motor Vehicle Accident Claims Fund (The Fund).The Fund, administered by the province’s ministry of…
Auditor satisfied with draft bill increasing insurance limits for nuclear facilities
March 10, 2008 by Canadian UnderwriterCanada’s auditor general is satisfied Natural Resources Canada has taken steps to update the insurance requirements for the country’s nuclear facilities.The Nuclear Liability Act, which came into force in 1976, currently limits the liability of a nuclear operator for any…
B.C. Appeal Court reduces loss of earnings award from Cdn$300,000 to Cdn$75,000
March 10, 2008 by Canadian UnderwriterThe responsibility for ensuring safety when a skier is seated onto a chair lift is split 50/50 between the ski resort (and its chair lift attendant) and the skier, the Court of Appeal for British Columbia has ruled in Kralik…