Segment
Claims
Crawford to handle “Centerpulse” class action
April 28, 2003 by Canadian UnderwriterCrawford Adjusters Canada reports it has been appointed to handle claims administration for the class action settlement of a recalled hip implant.The independent adjuster’s Montreal-based team, “Crawford Expertises Canada”, was appointed by a justice of the Quebec Superior Court to…
Early April storms south of the border cost insurers US$1.2 billion
April 25, 2003 by Canadian UnderwriterWinter and windstorms that hit 10 states between April 4 to 8 will cost insurers US$1.2 billion, suggest early estimates from the Property Claims Services Unit (PCS) of the Insurance Services Office (ISO).At this point, PCS expects insurers will see…
Final Belton Report calls for change
April 21, 2003 by Canadian UnderwriterIn its final edition, the Belton Report calls for change both within the insurance industry and from legislators to deal with the slippery slope of insurer returns. Author Ted Belton says the call of “real retirement” beckons, and in this…
U.S. cat losses hit US$1.46 billion in first quarter
April 15, 2003 by Canadian UnderwriterBucking the trend of first quarter 2001 and 2002, the first three months of this year produced a relatively high US$1.46 billion in cat losses south of the border. However, the figure still represents a mid-range of losses compared to…
Colorado blizzard insured damages top US$93 million
April 14, 2003 by Canadian UnderwriterDespite low preliminary estimates, the spring blizzard that hit Colorado is now expected to cost insurers US$93.3 million dollars, says the Rocky Mountain Insurance Information Association (RMIIA).Early estimates had the insured loss at just US$33.6 million, but this has tripled,…
State Farm tops website survey
April 3, 2003 by Canadian UnderwriterThe website for State Farm Insurance Co. took top spot in the first Canadian survey of p&c insurance company websites. The survey, conducted by Toronto-based UBER analyze tested the thoughts of consumers and brokers on 50 Canadian sites. Coming in…
Cunningham Lindsey U.S. operation acquires RSKCo Services
April 3, 2003 by Canadian UnderwriterThe U.S. operation of Toronto-based international claims services firm Lindsey Morden Group Inc., Cunningham Lindsey U.S. Inc., has agreed to purchase RSKCo Services.RSKCo is a owned by CNA Financial Corp. subsidiary Continental Casualty Co. Through the signed agreement to acquire,…
OIAA Claims 2003: Legislative Trade-Off
April 1, 2003 Vikki SpencerTwo new pieces of legislation are changing the landscape for Ontario’s insurers. Changes to the auto insurance system have been much discussed, but falling under the radar is the introduction of contingency fees for lawyers, potentially signaling a swing to…
Insight: Ontario Insurers & Paralegals: Bitter; Rivalry
April 1, 2003 Vikki SpencerLast December, the Financial Services Commission of Ontario (FSCO) laid seven charges against a Toronto-base paralegal for alleged improprieties in the settlement of an insurance claim. This was followed by the passage of Bill-198 and a subsequent first draft of…
CICMA/CIAA Joint Conference:
April 1, 2003 Vikki SpencerAs independent and company adjusters joined together in Toronto for a recent CICMA/CIAA conference, auto claims issues were front and center. From the passage of Bill-198 in Ontario to auto theft, a common message came out of the discussions: the…
Adverse Developments
April 1, 2003 Sean van Zyl, EditorLast year saw the highest number of U.S. property and casualty insurers go into liquidation or placed under regulatory supervision in the last three years, according to a report recently released by rating agency A.M. Best. Several rating agency and…
Georgia tornadoes bring US$2.5 million in claims
March 20, 2003 by Canadian UnderwriterTornadoes and deadly storms that ripped through Georgia on Wednesday have caused US$2.5 million in claims, estimates the state’s Insurance Commissioner, John Oxendine.He visited the devastated areas today, calling on insurers to quickly pay out claims.The storms claimed six lives,…