Segment
P&C Companies
Disclosure of Insurance
July 1, 2003 Ani Abdalyan, barrister & solicitorOntario’s rules of civil procedure have not always mandated disclosure of insurance. In the years before 1984, under Ontario’s old rules, plaintiffs settled or proceeded to trial with no knowledge of whether the defendant was insured. Counsel used strategies to get around the lack of procedural requirement to disclose insurance.
Negligence Versus Intention
July 1, 2003 William Blakeney of BLAKENEY HENNEBERRY MURPHYOf all liability claims that can be presented to an insurer, allegations of sexual abuse represent a special challenge. These claims often involve mixed elements of negligent and intentional acts. As well, there may be both innocent and culpable insureds seeking indemnity under the policy. A recent decision by the Ontario Court of Appeal has provided new direction which could have significant impact on insurers.
Insurers Gain Stronger Profit Footing for 1-Q
July 1, 2003 by Canadian UnderwriterInsurers bounced back into profitability for the first quarter of this year, with net earnings over three and a half times higher at $396 million compared with the $108 million reported for the same period in 2002, according to Insurance…
Insurers and Auto Makers – Put To The Test
July 1, 2003 Vikki SpencerNever before has the public spotlight been aimed so directly on the insurance industry. As rising auto insurance premiums fuel media and government attention, the insurance industry has shifted up in drive to educate the public on the impact of rising claims costs. At the recent AIM Forum in Toronto, auto insurers, manufacturers and suppliers met to discuss how the current auto crisis can be overcome.
Partners Forever..?
July 1, 2003 Sean van Zyl, EditorThe property and casualty insurance industry has traditionally been a close-knit community, built on long-standing “partnerships” from the street broker to primary insurer and ultimately the reinsurer. The “tides of fortune” affected by the vagaries of the hard to soft…
Insurers Back Ontario’s New Auto Reform Regs
July 1, 2003 by Canadian UnderwriterAfter more than six months, Ontario has put auto insurance regulations on the books in response to Bill-198. The regulative changes, which are largely directed at curbing runaway accident benefits (AB) claims costs, received broad support from the province’s auto…
Atlantic Premiers Investigate Public Auto System
July 1, 2003 by Canadian UnderwriterThe Atlantic provinces may see a harmonized approach to auto insurance finally come to pass, but among their options may be a public auto insurance system. The Atlantic premiers met in Charlottetown recently to address the issue of rising premiums…
Canadian Ops of the Home Insurance Co. in Liquidation
July 1, 2003 by Canadian UnderwriterThe Canadian branches of U.S.-based The Home Insurance Co. have been placed in liquidation by the Ontario Superior Court of Justice. The move follows a wind-up order issued for the U.S parent company on June 13 of this year, which…
Intuitive Inspections
July 1, 2003 Terry Neilson, president of Insurance Systems Inc.Mobile technology, coupled with a rethink of traditional ways of producing inspection reports, can cut significant costs, improve efficiency and speed up turnaround for underwriters and inspectors. Underwriting is the critical, if cumbersome, lynchpin of the insurance transaction process. Delays,…
Small businesses cite insurance costs as top concern
June 30, 2003 by Canadian UnderwriterA new study by the Canadian Federation of Independent Business (CFIB) shows its members see insurance costs as their top concern. Business confidence in the economy in the second quarter of 2003 dropped, with insurance costs heading up the list…
Employers Re downgraded on concerns over GE support
June 30, 2003 by Canadian UnderwriterEmployers Reinsurance Corporation (ERC) has been downgraded by rating agency A.M. Best on concerns over the level of support the reinsurer can expect from parent General Electric.ERC and its international reinsurance companies have been downgraded from A+ (superior) to A…
Canadian ops of The Home Insurance Co. face liquidation
June 27, 2003 by Canadian UnderwriterThe Canadian branches of U.S.-based The Home Insurance Co. have been placed in liquidation by the Ontario Superior Court of Justice. The move follows a wind-up order issued for the U.S parent company on June 13 of this year, which…