Punitive damage claims: AN ARGUMENT FOR COVERAGE
February 1, 2001 Jim Cameron of Cameron & Associates Insurance Consultants Ltd.Just before Christmas, the Supreme Court of Canada heard argument in the case of Whiten v. Pilot. The original trial jury heard evidence that lead them to conclude that Pilot acted in bad faith against its insured Whiten and awarded…
THE BIG CHILL
February 1, 2001 Sean van Zyl, EditorHOLDING STATE MONOPOLIES ACCOUNTABLE
U.S. cat costs drop
January 1, 2001 by Canadian UnderwriterU.S. insurers experienced their lowest quarterly catastrophe related loss for the third quarter of this year since 1990, says the Insurance Services Office (ISO). The overall cat loss for the third quarter amounts to US$315 million based on three events…
Healthcare: a Tear in the Claims Management
January 1, 2001 Sean van Zyl, EditorIn the few short years between 1991 and 1998, the cost of healthcare as a percentage of auto claims across Canada rose on average by almost a third to the point where amounts paid out by insurers toward vehicle damage/loss…
Aging infrastructure key link to disasters
January 1, 2001 by Canadian Underwriter“While Canada does a great job responding to natural disasters and rebuilding afterward, we have a lot to do when it comes to preventing disaster,” says George Anderson, president of the Insurance Bureau of Canada (IBC). Anderson, who recently gave…
Has the “Cycle” broken?
December 1, 2000 Steve Hammond, leader of commercial underwriting practices at RoThere is evidence to suggest that the traditional business planning cycle has been bent so far out of shape as to become irrelevant to property and casualty insurance. Faced with the “end of the cycle”, insurers need to find a new barometer.
Natural Catastrophes: An Increasing Trend?
December 1, 2000 Donald Keefe, manager of engineering property and special risksLast year was one of the worst years in the 1990s for natural catastrophes worldwide. There were two major earthquakes in Turkey and one in Taiwan, Columbia, Mexico and Greece, making 1999 the year most severely affected by earthquakes since 1976. The earthquakes in Turkey and Taiwan claimed the lives of over 20,000 people and resulted in economic losses of approximately US$ 26 billion.
Legal Rates: Judgement Awaits
December 1, 2000 Sean van Zyl, EditorA controversy which has been simmering for several years now could boil over at any moment with the consequence being higher and more frequent court damage awards being made against insurers, predict senior partners of litigation defense firms. The issue…
Saskatchewan brokers gear up for change
December 1, 2000 by Canadian UnderwriterAs Saskatchewan’s brokers joined for their annual conference recently, proposed changes to rate classifications by Saskatchewan Government Insurance (SGI) were the hot topic for discussion. Prior to the meeting, SGI announced plans to reclassify light commercial vehicles by removing the…
CRACKING the CASE: INVESTIGATING INSURANCE FRAUD
November 1, 2000 Vikki SpencerWith the rise of high-tech crime fighting equipment and the experts to match the tools, insurers are discovering new ways to crack down on fraud. Far from a victimless crime, fraud accounts for higher premiums and higher taxes as fake…
Coming Events (November 01, 2000)
November 1, 2000 by Canadian UnderwriterAnnouncements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Ontario Risk and Insurance…
Coming Events (October 01, 2000)
October 1, 2000 by Canadian UnderwriterAnnouncements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Waterloo Region Insurance Professionals…