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ICBC to reward safe driving communities

May 5, 2004 by Canadian Underwriter

The Insurance Corp. of B.C. is aiming to reduce auto accidents this month, issuing a challenge to communities. Between May 5 and 27, communities in various size categories which show the greatest reduction in car crashes can receive grants between

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Swiss Re wins another round against Silverstein

May 4, 2004 by Canadian Underwriter

Swiss Re came out ahead in the latest legal round against World Trade Center leaseholder Larry Silverstein. A New York jury found in favor of the reinsurer that it is bound by the Wilprop policy form for its portion of

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WTC ruling favors most insurers

May 2, 2004 by Canadian Underwriter

The jury is still out for Swiss Re, but many of the insurers on the World Trade Center (WTC) policy have received a positive verdict from a Manhattan jury. The jury said that many of the insurers, including Lloyd’s, are

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Lindsey Morden losses widen on U.S. TPA sale

May 2, 2004 by Canadian Underwriter

International adjuster Lindsey Morden (TSX: LM) saw its losses widen in the first quarter of 2004, up to $21.1 million from just $2.0 million in the first quarter of 2003.However, much of this loss stems from its U.S. operations, with

News InsuranceMergers and Aqcuisitions

Plaintiffs’ lawyers decry proposed Alberta auto regs

April 27, 2004 by Canadian Underwriter

In a scathing press release, Alberta’s plaintiffs’ lawyers are lashing out at proposed changes to the province’s auto insurance system which would limit the right of those with minor injuries to collect “non-economic” damages.The Alberta Civil Trial Lawyers Association says

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Adjusters granted “investigative body” status

April 26, 2004 by Canadian Underwriter

Retroactive to March 31, independent adjusters in Canada have been granted the status of “investigative bodies” under the federal privacy legislation.The status, announced by the Canadian Independent Adjusters Association (CIAA), allows independents leeway in the collection, use and disclosure of

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Corporate scandals still on the minds of risk managers: Lloyd’s survey

April 25, 2004 by Canadian Underwriter

An overwhelming majority of risk managers feel that the U.S. market has not seen the last of the major corporate scandals, according to a survey by Lloyd’s.A full 89% of risk managers, responding to a survey conducted at the Risk

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U.S. cats cost insurers US$963 million for 1-Q

April 21, 2004 by Canadian Underwriter

U.S. insurers will likely face an insured cost of US$963 million for the first quarter of this year with regard to catastrophe related property claims, according to preliminary data released by the New York-based Insurance Services Office Inc. (ISO). The

News InsuranceMergers and Aqcuisitions

Royal & SunAlliance boost broker contracts in New Brunswick

April 20, 2004 by Canadian Underwriter

Royal & SunAlliance Canada Group has appointed four new brokerages to its book in northern part of New Brunswick. The insurer says it will look at expanding overall capacity in the province’s auto insurance market based on the product cost-cutting

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Fraser report hits public auto again

April 19, 2004 by Canadian Underwriter

Another Fraser Institute report lashing out at public auto insurance systems was released today. The right-wing think tank says public auto equals the highest premiums and the lowest claims payouts, and is tantamount to selling the public a “lemon”.The study

News Insurance

Insurers seek to limit asbestos fund contributions

April 18, 2004 by Canadian Underwriter

U.S. insurers and reinsurers are encouraging legislators not to increase the amount companies would contribute to a national asbestos litigation fund that could be established under Senate bill S.2290. Insurers made the appeal in a joint statement from the National

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IBC turns attention to crime “rings”, drops individual claims investigation

April 2, 2004 by Canadian Underwriter

The Insurance Bureau of Canada’s (IBC) investigative division will focus on auto theft and organized crime in the future, handing its individual claims investigation service over to another firm.As of April 1, the IBC will no longer accept new requests