Segment
Claims
Hurricane Charley loss estimates rise
August 17, 2004 by Canadian UnderwriterEarly insured loss estimates from Hurricane Charley, which made landfall in Florida over the weekend, now run as high as US$10 billion.Risk modeling firm AIR Worldwide says insured losses should range between US$6-$10 billion, while Risk Management Solutions has upped…
Hurricane Charley loss less than expected
August 16, 2004 by Canadian UnderwriterThe estimated loss resulting from Hurricane Charley, which made landfall in Florida on Friday, has been reduced from US$10-15 billion to US$5 billion by Risk Management Solutions Inc. (RMS). The risk assessment company says it revised the potential loss due…
U.S. insurers winning battles, if not war, on litigation
August 12, 2004 by Canadian UnderwriterTwo recent U.S. decisions have provided small victories to insurers in the litigation war.The California Supreme Court last week tossed out a lower court ruling that had resulted in a multi-million dollar bad faith damage award against an insurer. In…
Florida braces for hurricane blast
August 12, 2004 by Canadian UnderwriterAbout 800,000 residents on the Florida coast have been asked to evacuate the area with the impending arrival of Hurricane Charley, expected to hit the Florida keys late Thursday or early Friday.Charley has already brought up to six inches of…
Mold remediation documentation guidelines released
August 11, 2004 by Canadian UnderwriterNew guidelines offered up by the DRC Trade Show Services for insurers, adjusters and contractors are being released via a national roadshow. DRC struck a committee of indoor environmental professionals, building science engineers and restoration contractors to address what was…
Texas storm losses cost insurers US$175 million
August 10, 2004 by Canadian UnderwriterStorms which struck the area of Amarillo, Texas in late June have already cost insurers US$175 million in claims, says the Insurance Council of Texas.The storm, which hit June 21 and brought high winds and hail, has resulted in about…
What’s new: In brief (August 10, 2004)
August 10, 2004 by Canadian UnderwriterIn support of Mike Yang, a long-time insurance industry figure who is returning home following a serious illness, two fundraising events are planned. On Thursday, September 23 from 5-7 pm, Mike will be at the Windsor Arms Hotel at 18…
National guidelines on salvage air bags released
August 9, 2004 by Canadian UnderwriterThe Canadian Council of Motor Transport Administrators (CCMTA) has released its guidelines for salvage air bags, according to a press release from John Norris of the Hamilton District Autobody Repair Association (HARA).The release notes that some public insurers in Western…
Peterborough flood claims to top $71 million
August 5, 2004 by Canadian UnderwriterEarly claims estimates resulting from the recent Peterborough, Ontario floods show insurers paying out close to $71 million, says Eve Patterson, regional manager for the Insurance Bureau of Canada (IBC). Patterson says with the major writers having reported thus far,…
What’s new: In brief (August 04, 2004)
August 4, 2004 by Canadian UnderwriterToronto-based Lindsey Morden has a new CEO who will also take on the top role at Cunningham Lindsey U.S.. Jan Christiansen was named to the position upon the resignation of Karen Murphy after four years. Christiansen was most recently CFO…
Hurricane Alex a mild brother to Isabel
August 3, 2004 by Canadian UnderwriterThe insurance industry was spared the full wrath of the first Atlantic hurricane Tuesday as Hurricane Alex made just a glancing blow on the North Carolina coast. Earlier it was feared Alex would be the first storm to cause major…
Lindsey Morden losses continue on U.S. woes
July 29, 2004 by Canadian UnderwriterInternational adjuster Lindsey Morden (TSX: LM) says its net loss widen to $2.9 million ($0.21 per share) for the second quarter ending June 30, 2004. This compares to a net loss of $2.6 million ($0.19 per share) for the same…