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.
The Science of Numbers – Accident Reconstruction
May 1, 2002 Gord Jenish, president of Jenish EngineeringAs auto claims loss costs rise, there is continual focus on accident reconstruction and new tools are helping experts to determine the causes and conditions of vehicle crashes more accurately. With the introduction of computer programs to “model” accidents, and greater research on the mechanics of crashes, there is still the need to adhere to the fundamentals of accident reconstruction — scientific analysis and objective conclusions.
Leveling Construction Theft
May 1, 2002 Rosie Lucifero, senior manager of marketing and communications aFinancial loss due to theft of equipment in the construction field has reached epidemic proportions. The Toronto Construction Association estimates that thieves currently walk or drive off Ontario construction sites with over $12 million worth of equipment each year, with the countrywide theft tally amounting to more than $32 million annually. Can insurers and their construction clients limit their exposures?
AUTO “burn”
May 1, 2002 Sean van Zyl, EditorOuch! Auto insurers just cannot seem to win. Across Canada auto claim losses are pouring in with the supposed “prize market” of the country — Ontario, which accounts for about a third of all premiums in Canada — delivering some…
Making a Statement to Clients
May 1, 2002 Steve Heck, managing director, Symcor Art & LogicTake a moment and look at your insurance company from your customer’s perspective. They selected your product from a sea of competitors, perhaps having questioned brokers and waded through copious amounts of advertising. You likely managed to break through based…
SGI to offer driver discount and new fines
April 25, 2002 by Canadian UnderwriterSaskatchewan’s public insurer says it will offer a discount to drivers with good track records, and punish those with driving offenses, starting in July of this year. Saskatchewan Government Insurance (SGI) says the discount program will total about $16 million…
Insurers creeping into terrorism coverage market
April 12, 2002 by Canadian UnderwriterIn the face of calls from U.S. President George Bush for a terrorism backstop plan to be approved by the Senate, insurers appear to be creeping back into the terrorism coverage market, albeit hesitantly.The latest is ACE USA, announcing it…
WHITEN V. PILOT: End of a Saga
April 1, 2002 William Blakeney of Blakeney Henneberry, Baksh & MurphyOn February 22, 2002 the Supreme Court of Canada released its reasons in the landmark case of Whiten v. Pilot Insurance Co., ending a year long cliffhanger for the insurance industry. The appeal was heard on December 14, 2000 and since that time, lawyers and claims professionals alike have pondered the significance of the delay.
Peripatetic Rep: Center of the Web
April 1, 2002 AxiomWhen I walked into the golf club’s dining room, the first people I saw were my two broker friends, Bob and Stan. Bob Davies was co-partner in a successful midtown brokerage which placed a lot of business with our insurance…
McNaughton v. Co-operators could spawn class action landslide
March 8, 2002 by Canadian UnderwriterThe victory of one policyholder in a case involving auto insurance deductibles could give rise to large numbers of Canadians seeking similar action against insurers. A Supreme Court of Canada ruling yesterday denies Co-operators General the right to appeal a…
Adjusters wade through terrorism wordings
March 1, 2002 by Canadian UnderwriterAs the Ontario Insurance Adjusters Association (OIAA) met for its annual claims conference in Toronto recently, the implications of September 11 were still reverberating. With the introduction of new policy wordings and exclusions, adjusters are facing a far different task…
US airlines consider insuring themselves
February 12, 2002 by Canadian UnderwriterIn response to the lack of available war risk coverage following the September 11 terrorist attacks, airlines south of the border are considering their own insurance scheme. This comes as government-backed coverage is set to run out on March 20.The…