Segment
P&C Companies
Grow ops present more than a fire hazard: Fraud Forum
September 28, 2004 by Canadian UnderwriterIssues insurers may face when dealing with marijuana grow operations extend beyond the threat of fire, delegates at the Annual Toronto Fraud Forum learned Tuesday.Staff Sgt. Marc Pineault of the Ottawa Police Services says another significant problem is mold growth…
Hurricanes move onto rater radar screens
September 28, 2004 by Canadian UnderwriterFlorida’s historic hurricane season is catching the attention of rating agencies, with Fitch Ratings noting that the landfall of Hurricane Jeanne now makes it likely insurers will face an assessment from Florida’s “market of last resort” for hurricane coverage.While the…
IBC highlights “victims” of auto theft: Fraud Forum
September 28, 2004 by Canadian UnderwriterIn its new focus on auto theft and injury rings, the Insurance Bureau of Canada (IBC) is trying to highlight that insurance fraud and theft are far from “victimless” crimes. Speaking at the Annual Toronto Fraud Forum, co-hosted by the…
Alberta broker speaks out against auto reform
September 27, 2004 by Canadian UnderwriterCalgary-based Canada Brokerlink Inc. has set up a website to speak out about the new Alberta auto insurance system. The site, www.albertaautoinsurance.ca, is a response to what Canada Brokerlink president Jon Ouellete says is an “extremely political and not very…
Jeanne could be the worst hurricane of 2004
September 27, 2004 by Canadian UnderwriterEarly estimates suggest Hurricane Jeanne, which slammed into Florida’s east coast this past weekend, could be the worst of the four hurricanes to hit the state this year.Risk modeler Eqecat says insured losses could be US$6-$8 billion, while AIR Worldwide…
What’s new: In brief (September 27, 2004)
September 27, 2004 by Canadian UnderwriterConverium had a spot of good news Monday, learning it faces a possible upgrade by Standard & Poor’s. S&P says it will upgrade the reinsurer to “BBB+” if it can successfully complete its proposed US$420 capital-raising move. Converium says it…
Jeanne makes history in Florida
September 26, 2004 by Canadian UnderwriterHurricane Jeanne is making history in Florida, and causing extensive damage. The category-3 storm touched down near Stuart, Florida late Saturday, becoming the fourth hurricane to hit Florida this year a record number during one season to hit the state.For…
What’s new: In brief (September 26, 2004)
September 26, 2004 by Canadian UnderwriterState Farm Insurance Companies has donated $6,500 to the Peterborough Area Relief Fund to help victims of the July floods. State Farm also notes that it has paid out more than $8.5 million in claims in the Peterborough area, with…
Proposed rules for Ontario paralegals released
September 26, 2004 by Canadian UnderwriterThe Law Society of Upper Canada (LSUC) late last week delivered its report to Ontario’s Attorney General regarding proposed rules for regulating paralegals. The proposal, in essence, expands the existing consumer protection function of the Law Society to take in…
IBAC ready to support “next generation” of brokers
September 26, 2004 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) is preparing to support the “next generation” of brokers through technology, education and marketing initiatives, says new president Keith Wilson.Wilson took over the captain’s seat to lead “the voyages of the brokership IBAC”…
U.S. insurers face up to US$4.4 billion Frances tab
September 23, 2004 by Canadian UnderwriterThe total insured loss arising from Hurricane Frances will likely be in the order of US$4.4 billion, according to the latest loss estimate released by the Insurance Services Office (ISO). The ISO expects that about 552,000 claims from both homeowners…
What’s new: In brief (September 23, 2004)
September 23, 2004 by Canadian UnderwriterInvestors Group has received notice that staff of the Ontario Securities Commission (OSC) are considering proceedings against the company for mutual fund dealings between March, 2000 and September, 2003. The financial services firm says it will respond to the notice,…