Segment
Claims
What’s New: In Brief (June 13, 2007)
June 13, 2007 by Canadian UnderwriterTravelers has enhanced its SelectOne liability policy for investment advisors and funds in Canada, by protecting Independent Review Committee (IRC) members.National Instrument 81-107 requires the creation of an Independent Review Committee for each investment fund that is a reporting issuer.…
Alberta storms cause more than Cdn$42 million in insured damages
June 13, 2007 by Canadian UnderwriterStorms and flash floods in Alberta on June 5 are expected to exceed Cdn42 million in insured damages, according to the Insurance Bureau of Canada (IBC).In Calgary alone, there have been 3,094 insurance claims so far as a result of…
FSCO increases service rendered rates for whiplash injuries
June 13, 2007 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has released an adjustment to its PAF Guideline WAD I and its PAF Guideline WAD II that will see the fees for services rendered (as outlined in Appendix A of the respective guidelines)…
Insurance industry payrolls increase in the United States
June 6, 2007 by Canadian UnderwriterThere is a steady rise in insurance payrolls in the United States, according to an A.M. Best report, and there is some debate as to whether the expanding populations property and casualty claims in the wake of 2004-05 hurricanes might…
Attack class certification early
June 6, 2007 by Canadian UnderwriterInsurers need to decide whether to attack the certification of a class action lawsuit up front, or wait until after certification to respond to the claim, Roderick S.W. Winsor, a partner at Blaney McMurtry LLP, told delegates at the Insurance…
Ontario court examines “crystal ball” of future loss of income
June 5, 2007 by Canadian UnderwriterA 62-year-old orthopedic surgeon in Windsor, Ontario has been awarded Cdn$844,450 in damages including Cdn$714,000 based on a presumed future loss of income between the ages of 65 and 70 for injuries he sustained after being thrown from his bicycle…
Ontario Superior Court reviews law for summarily dismissing a claim
June 4, 2007 by Canadian UnderwriterAn Ontario Superior Court of Justice case, Oliveira v. Mullings, recently considered the standard for summarily dismissing a claim made against an auto insurer.The claim was based on a September 2003 motor vehicle collision, in which one of the defendants,…
What’s New: In Brief (May 31, 2007)
May 31, 2007 by Canadian UnderwriterWith spring flooding being a high risk in certain areas of B.C., the Insurance Bureau of Canada (IBC) is warning people that damage caused by overland flooding cannot be covered by home insurance.“The purpose of insurance is to spread risk…
Swiss Re promotes risk analysis in light of EU “polluter-pays” legislation
May 25, 2007 by Canadian UnderwriterNew, polluter-pay environmental legislation in the European Union is based on a new liability regime under public law and will create unprecedented loss complexes for which claims experience is not yet available, according to a recent report by Swiss Re.It…
Crawford & Company expands alliance with MJM Investigations
May 25, 2007 by Canadian UnderwriterCrawford & Company (Canada) Inc. is expanding their strategic global alliance with MJM Investigations into Canada. MJM provides investigative products and services to insurance carriers and is Crawfords preferred provider of both surveillance services and global insurance fraud mitigation and…
SCOR to take WTC settlement to arbitration
May 24, 2007 by Canadian UnderwriterSCOR Reinsurance has served notice that it intends to take to arbitration a recent US$2-billion settlement that was designed to bring an end to the six-year legal battle between seven insurers and the leaseholder of the World Trade Centre over…
Timmins, Ontario to open Collision Reporting Centre in July 2007
May 23, 2007 by Canadian UnderwriterTimmins, Ontario will have a Collision Reporting Centre by the end of July 2007.Located in northeastern Ontario, the City of Timmins has a population of about 44,000 people.Accident Support Services Ltd., which facilitates collision reporting to the insurance industry, has…