Beyond Pleading
August 1, 2002 Ani AbdalyanIn the assessment of its duty to defend, an insurer is entitled to go beyond the pleadings rule. Recent decisions from the Supreme Court of Canada have shed new light on the thorny question of when an insurer’s duty to defend is triggered.
Sept. 11 losses not solely to blame for U.S. insurer woes, study shows
July 10, 2002 by Canadian UnderwriterLosses stemming from the September 11 terrorist are not the only thing to blame for the terrible performance by U.S. insurers last years, says a report from Florida-based Weiss Ratings Inc. But an overall leap in claims costs is certainly…
Cover Story: Insurer Technology Solutions Take Root
June 1, 2002 Vikki SpencerInsurers have been sowing the seeds of online technology for several years, and as some within the industry would put it, this has been in the “shopping” phase rather than the “buying” phase. The problem was, while other financial services were putting money into solutions and reaping the benefits, most particularly the banks, insurers have had little to show for their efforts. For an industry accused of lagging behind in the online race, many have been asking when will insurers start to implement online solutions, and see the fruits of their many years of research.
BI claims and the “legal factor”: Looking Eastward
May 1, 2002 Philip Chapman, a partner at Huestis RitchSome alarming statistics are coming out of Atlantic Canada on bodily injury claims. The costs of these claims are out of control and have resulted in a call by industry for an overhaul of the system.
Caught in a Crunch – Auto Insurers Face Litigation Nightmare
May 1, 2002 Vicki SpencerAuto insurers may have been caught asleep at the wheel, in light of the recent decision in McNaughton versus The Co-operators. The Supreme Court of Canada refused the insurer leave to appeal a decision which could see deductibles returned to thousands of drivers who have written off their vehicles. In the wake of the decision, and as insurers await potential certification of the case as a class action, industry-wide reaction is still being measured. But no clear answers are in sight — insurers and the legal public note that the case is raising as many questions as answers, with a potential pile-up of claims waiting to be addressed.
CICMA/CIAA Joint Conference 2002 Focus on Indemnity
April 1, 2002 Vikki SpencerThere is widespread industry agreement that claims costs are spiraling out of control. The industry’s economic woes cannot simply be tied to inadequate rates, or even catastrophic events such as September 11. At the recent Joint Claims Conference in Toronto,…
New CGL Exposure History Repeats
February 1, 2002 William Blakeney, of Blakeney Henneberry Baksh & MurphySince automobiles became the predominant means of transportation in North America, disputes have arisen between automobile and general liability insurers from time to time over losses related to the use or operation of a motor vehicle. A recent court decision, which will require specific exclusions to be made to future CGL policies, goes back full circle to a case decision made more than 40 years ago.
Battle between Silverstein and insurers over WTC claim heats up
January 4, 2002 by Canadian UnderwriterThe court case between World Trade Center leaseholder Larry Silverstein and insurers is broadening in scope, with Silverstein asking courts to extend his suit to all of the building’s insurers, except ACE and XL. Silverstein has already filed suit against…
Claims Management Strategies 2002: A Delicate Balance
January 1, 2002 Vikki SpencerThe insurance industry is at a crossroads, with rates rising, but continuing to be outpaced by claims costs. Technology is a relentless force, offering promise, but also upping the ante on customer service expectations. A survey of top insurer claims staff shows that today’s adjusters walk a fine line between the increasing demands of the customer and the need to reduce costs, between technology’s potential and its potential downfalls. CU asks the experts what new forces threaten this delicate balance moving forward.
September 11 Will Change Canadian Insurers
December 1, 2001 Joel Baker, GM, A.M. Best Canada Ltd. and Robert Adams, asst. VP, A.M. Best Co.The indirect consequences of the September 11 terrorist attacks on the U.S. will have a far greater impact on the insurance industry in Canada than the direct costs resulting from the tragedy. Few Canadian companies will be directly affected.
Keeping the World’s Runways Open
November 1, 2001 David CarrIn the aftermath of the terrorist attacks on September 11 of this year, the Canadian federal government has offered the country’s struggling airlines a wing and a prayer – at least a temporary one…
World Cup scores new insurance deal
October 30, 2001 by Canadian UnderwriterFIFA, the body representing the World Cup of soccer has found a new insurer for the event finals next year in Japan. Following the events of September 11, French insurer AXA decided to terminate its policy with FIFA with one…