Claims
RenaissanceRe Holdings Ltd. may have just launched a US$60-million sidecar, but don’t take that as a sign that sidecars are coming back into vogue, A.M. BestWeek reports.In the June 15, 2009 issue of BestWeek U.S./Canada, Robert Derose, a vice president at A.M. Best, said the market is hardening, but not as severely as it did […]
By Canadian Underwriter | June 12, 2009
1 min read
The 2009 Atlantic hurricane season will be slightly less active than average, according to Colorado State University (CSU) forecasters. CSU is predicting roughly five hurricanes for the 2009 storm season, of which 2 will be major (Category 3-5).In addition, it is forecasting 11 named storms, 50 named storm days, 20 hurricane days and 4 major […]
By Canadian Underwriter | June 5, 2009
Hot and dry weather has hit B.C. and interface fires have already affected some structures. Insurance Bureau of Canada is reminding homeowners to double-check policies to ensure coverage, instead of waiting until a forest fire threatens their communities. “Every time disaster strikes, we hear of homeowners caught either without insurance or without adequate insurance,” Lindsay […]
By Canadian Underwriter | June 3, 2009
2 min read
The threat of Northeast hurricanes could be the most overlooked of all the risks, BestWeek’s U.S. Canada edition reports.BestWeek points to modeller AIR Worldwide’s suggestion that if a Category 3 or 4 storm hits the metropolitan area along the U.S.’s Northeast coast, insured losses could reach US$110 billion from Rhode Island to New Hampshire.A similar […]
By Canadian Underwriter | June 1, 2009
2009 HURRICANE SEASON IS A 50-50 CHANCE OF BEING NORMAL: NOAA The National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center (CPC) has called for a 50% chance of a near-normal hurricane season, according to the 2009 Atlantic Hurricane Season Outlook. The outlook indicates as well a 25% chance of an above -normal season and […]
May 31, 2009
The 28th Annual Ontario General Insurance Hockey Tournament raised more than Cdn$30,000 for Niagara chapter of Big Brothers Big Sister and Camp McGovern. The event took place in Fort Erie and Welland on April 17-19. It was organized by a committee including members from the Niagara South Insurance Brokers Association, Ontario Insurance Adjusters Association (Niagara […]
An insurer is not liable to pay for accident benefits when the accident victim has failed to attend insurer examinations without a reasonable explanation, a Financial Services Commission of Ontario (FSCO) arbitrator has decided. Illiia Troubitsine alleges he was on a TTC bus on Nov. 10, 2006 when he claims the bus stopped suddenly and […]
The Alberta Automobile Insurance Rate Board (AIRB), which regulates the province’s auto insurance rates, is seeking approval from the provincial government to introduce a new file-and-use system for determining auto insurance rates. In a “pure” file-and-use system, insurers can file for changes in their auto insurance rates with the government and then use the filed […]
The auto insurance reforms suggested by the Financial Services Commission of Ontario (FSCO) are essentially a wash, Barb Addie, a principal at Baron Actuaries, argued. Addie’s article, Ontario Auto -Control-Alt-Delete?, is featured in the MSA/Baron Outlook Report: Q4-2008. In it, she notes the overall Ontario auto direct loss ratio reached 84 per cent and its […]
Independent adjusters attending a claims scene should be writing up two reports instead of one larger report, thus increasing the chances of covering the report under litigation privilege, according to Richard Lindsay, partner with Lindsay Kenney LLP. The “dominant purpose” test is used to determine whether a documentation falls under litigation privilege, Lindsay told delegates […]
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