Segment
Claims
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…
Ontario Court of Appeal upholds denial of coverage to driver who was unaware of license suspension
June 27, 2007 by Canadian UnderwriterIn cases in which insureds are not aware that their drivers licenses have been suspended, trial judges do not have discretion under s. 129 of Ontarios Insurance Act to overturn the insurers denial of auto insurance coverage, Ontario Appeal Court…
Underwriting income down in 2007 Q1, claims up, OSFI figures show
June 27, 2007 by Canadian UnderwriterUnderwriting income is down and claims costs are up, according to 2007 Q1 financial figures posted by the Office of the Superintendent of Financial Institutions (OSFI), which oversees federally regulated property and casualty insurers in Canada.The OSFI 2007 Q1 figures…
IBC urges Manitobans to check policies after weekend tornadoes
June 27, 2007 by Canadian Underwriter**CLARIFICATION: The following story is an amended and clarified version of a story posted on Canadian Underwriter on June 25** The Insurance Bureau of Canada (IBC) is urging Manitobans to check their homeowners policies, and contact their insurance representative, after…
IBC urges Manitobans to check policies for tornado coverage
June 25, 2007 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is urging Manitobans to check their homeowners policies for tornado coverage, after a weekend in which at least eight tornadoes destroyed homes and buildings across southern Manitoba.Tornadoes packing winds in excess of 400 km-h…
Requirements for showing ‘Good Faith’
June 21, 2007 by Canadian UnderwriterWhen it comes to the disaster restoration industry, there are two major ways insurance factors in: claims by property owners on property insurance, and contracts on general liability.In many cases, an insurance company will be in a more powerful position…