Pulling Out of WSIB
August 1, 2007 Dylan Short, Manager, Advisory Services, Corporate Underwriting and Safety and Training, Markel InsuMany trucking companies have incorrectly assumed all owner-operators are qualified to opt out of WSIB coverage. This misunderstanding has proved costly for some.
Catastrophe Preparedness: Ready For The Worst?
August 1, 2007 Laura KupcisThe claims profession is not immune to the same succession issues facing the insurance and other industries.
Insuring the Insurer
July 1, 2007 Darrell Leadbetter, Paul Kovacs (Executive Director), Jim HarriesReinsurance has long been an effective means of diversifying risk for property and casualty (P&C) insurance companies in Canada, particularly the risk of large-claim events. Nevertheless, reinsurance risk does exist and it can have important implications in determining the ultimate…
Seeking a Connection
June 1, 2007 Craig HarrisTechnology trends in claims management revolve around some key themes, including a move to bridge or convert from legacy systems, enhanced performance measurement, improved client access to files, claims “portals” and the increased functionality of wireless adjusting solutions. What was once simply talk is now turning to action for many insurance company claims departments and independent adjusters.
CIAA’s Ontario Region Educational Seminar
June 1, 2007 Laura KupcisOn May 10, four lawyers from McCague Peacock Borlack McInnis & Lloyd LLP spoke at the Canadian Independent Adjusters’ Association’s Ontario Region educational seminar about changes to the Commercial General Liability policy, ambiguous wording in policies, changes to the Ontario limitations regime and emerging trends in personal injury awards.
Know Your Contract Law ABCs
June 1, 2007 byA Series of Articles Provided by the Insurance Institute of Canada
U.S. jury finds against risk manager in finite reinsurance deal
May 29, 2007 by Canadian UnderwriterA Manhattan federal jury has found Timothy Harcharik, a one-time risk management director for cell phone distributor Brightpoint, liable on three counts of aiding and abetting securities fraud for his part in a finite reinsurance deal, A.M. Best reports.Harcharik told…
SCOR to take WTC settlement to arbitration
May 24, 2007 by Canadian UnderwriterSCOR Reinsurance has served notice that it intends to take to arbitration a recent US$2-billion settlement that was designed to bring an end to the six-year legal battle between seven insurers and the leaseholder of the World Trade Centre over…
Auto Physical Damage Claims: the Procurement Puzzle
May 1, 2007 Craig HarrisInsurance companies buy millions of dollars each year in goods and services from vendors – auto collision repair centres, lawyers, adjusters and appraisers, for example – and there is an emerging recognition among some carriers that supplier “spend management” can…
S&P’s raises Lloyd’s financial strength rating to ‘A+’
April 23, 2007 by Canadian UnderwriterStandard & Poor’s Ratings Services increased its financial strength rating on the U.K.-based Lloyd’s insurance market (Lloyd’s or the Market) to ‘A+’ from ‘A.’ At the same time, Standard & Poor’s raised its counterparty credit rating on The Society of…
What’s New: In Brief (April 12, 2007)
April 12, 2007 by Canadian UnderwriterAllstate Insurance Company of Canada has developed an alliance with LifeCall, a national provider of personal emergency response systems. Allstate policyholders are now able to access an exclusive, value-added offer for personal emergency response services provided by LifeCall. In an…
Following the Five Commandments of Good Faith
April 1, 2007 Vanessa MarigaThe insurer must not treat the insured as an adversary whose interests may be disregarded, and this implies a reasonable and competent investigation of the claim.