Segment
Claims
PartnerRe increases profit in 2007 Q2, but non-life net premiums written “flat”
July 23, 2007 by Canadian UnderwriterPartnerRe Ltd. has reported a 2007 Q2 profit of US$105 million, up from a profit of US$77.5 million in 2006 Q2.The global reinsurers 2007 Q2 combined operating ratio was 85.7%, down from the 90.3% it reported in 2006 Q2.Net premiums…
Edmonton fire causes massive property damage
July 23, 2007 by Canadian UnderwriterA fire that ripped through a south Edmonton neighbourhood early Sunday morning could prove to be the largest property loss due to fire in Albertas history, industry experts at the Insurance Bureau of Canada (IBC) estimate.Michael Debolt, IBCs manager of…
What’s New: In Brief (July 20, 2007)
July 20, 2007 by Canadian UnderwriterSwiss Res Industrial Risk Insurer has organized its team to better serve customers property and casualty insurance requirements. The reorganization stems from an announcement made by the organization in April stating its intent to enhance its ability to meet the…
Manitoba Public Insurance reports solid Q1
July 19, 2007 by Canadian UnderwriterManitoba Public Insurance has reported a net income of Cdn$64.8 million for 2007 Q1, spurred by a growing vehicle fleet and solid investment income. Earned revenues increased by Cdn$10.5 million over 2006 Q1, due to an increase in number and…
What’s New: In Brief (July 17, 2007)
July 17, 2007 by Canadian UnderwriterKroll, a risk consulting company, is combining forces with Direct Marketing Centre Inc. (DMC) to provide Identity Theft Restoration services in Canada. Kroll announced that as part of the strategic alliance, DMC a third-party administrator and solution provider to credit…
What’s New: In Brief (July 16, 2007)
July 16, 2007 by Canadian UnderwriterCanada’s first online brokerage EasyInsure.ca launched in April, according to a release. Direct insurance has been sold online quite successfully over the last few years, but the benefits of a brokerage, including the ability to pull rates from several sources,…
FSCO changes PAF guideline for whiplash injuries
July 12, 2007 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) is releasing a revised Pre-approved Framework (PAF) Guideline for Grade I and II Whiplash Associated Disorders and accompanying Pre-approved Framework Extension Request and Discharge Report form (OCF-24/198).The new PAF Guideline is effective on…
US insurers Q2 cat costs tied with 2nd lowest in 10 years
July 12, 2007 by Canadian UnderwriterU.S. property and casualty insurers are expected to pay homeowners and businesses and estimated $2.175 billion [approximately Cdn$2.28 billion] for Q2 property losses resulting from a total of six catastrophes in 25 states, reports the ISO. The ISOs Property Claims…
Lloyd’s threatens to mandate use of electronic processing tools
July 11, 2007 by Canadian UnderwriterLloyds current use of Electronic Claims File and the Accounting and Settlement Repository (A&S) fall short of the goals set by the Market Reform Group (MRG), prompting the markets chief executive to threaten mandating the use of the electronic processing…
What’s New: In Brief (July 09, 2007)
July 9, 2007 by Canadian UnderwriterCraig Duncan has been appointed manager of Crawford’s newly created Regional Claims Centre in Ontario.Reporting to Greg Smith, vice president, national programs, Duncan will work with the Regional Claim Centre project team in establishing Crawfords first location in Mississauga, Ontario.The…
Territorial limit in policy applies to underinsured motorist endorsement
July 4, 2007 by Canadian UnderwriterThe territorial limitation contained in an automobile insurance policy and in the Insurance Act restricts coverage provided in the underinsured motorist endorsement, the Ontario Court of Appeal ruled on July 3.In Pilot Insurance Company v. Sutherland, the Appeal Court ruled…
Court affirms distinctions between ‘other insurance’ policies
June 28, 2007 by Canadian UnderwriterThere is a distinction to be made between primary, excess and/or umbrella policies when other insurance policies are called upon to respond in situations when primary coverage has been exhausted, the Ontario Court of Appeal ruled recently.In McKenzie v. Dominion…