Claims
Marsh, a global insurance broker and risk adviser, has arranged a property facility that will provide up to US$425 million of non-catastrophe capacity in the London market for United States and Canadian companies, the company has announced.The facility can be adapted to provide up to US$262.5 million worth of non-critical catastrophe capacity, and up to […]
By Canadian Underwriter | October 9, 2007
1 min read
Ground shaking caused by the next predicted Cascadia earthquake off the western coast of British Columbia is expected to result in losses of between US$40 and US$60 billion and damage losses resulting from the accompanying tsunami waves could be even larger than that, according to the Hazard & Risk Science Review 2007.The review, a joint […]
By Canadian Underwriter | October 5, 2007
The Ontario Court of Appeal has ordered Royal & SunAlliance Insurance Company of Canada to pay Cdn$1 million under the Family Protection Coverage Endorsement (FPC Endorsement) in a motor vehicle accident involving an uninsured driver.Royal & SunAlliance said their net potential liability was Cdn$0, based on a deduction of the insured’s Cdn$1 million liability limit […]
By Canadian Underwriter | October 4, 2007
2 min read
Manitoba Public Insurance (MPI) credits a Cdn$80.3 million profit for the first half of 2007 to increases in investment and premium revenue, despite enduring the worst summer for weather-related claims in a decade.The figure includes a net income of Cdn$56.9 million from the basic Autopac line of business, and marks a Cdn$14.6 million increase over […]
Individual insurer’s probable maximum loss (PML) estimates for insured earthquake damages in Canada are about four times lower than those calculated by an Insurance Bureau of Canada (IBC) working group, a panelist told the National Insurance Conference of Canada in Montreal.Recent research indicates that an earthquake event in Vancouver similar to that of the 1994 […]
By Canadian Underwriter | October 2, 2007
To help insurers and other organizations detect vehicle theft, CGI Group, Locator Technologies LLC and National Vehicle Service have announced the creation of a shared database of automobile information for cars in Canada, the United States and Mexico, according to a release. The new service would identify potentially stolen or unsafe vehicles that have been […]
September 30, 2007
Canada's Personal Information Protection and Electronic Documents Act (PIPEDA) has generated a range of reactions from claims adjusters and insurance companies, with some arguing that it's "business as usual" and others revamping how they fundamentally look at privacy. While many support the principles of the legislation, several point out that ambiguities in its practical application, particularly for claims investigations, will have to be navigated. The balance in the p&c insurance industry is between safeguarding privacy and still being able to conduct business.
By Craig Harris | September 30, 2007
13 min read
It's been an exciting ride for McLarens Canada and there's no plan to jump off the car.
By Laura Kupcis | September 30, 2007
7 min read
In the 1970s, Chief Justice Cowan of the Nova Scotia Supreme Court provided a succinct description of the trend in awards for future lost earnings in personal injury cases: “In this Province loss of earnings is considered part of general damages and not part of special damages.” (Hollies v. Ritcey (1970), 3 N.S.R (2d) 400). […]
By Cheryl Canning | September 30, 2007
6 min read
It’s no secret that health care related claims costs in the auto insurance system are rising. We’ve all seen rising personal injury costs on both the bodily injury and accident benefits sides of loss costs. One cost pressure that doesn’t get a lot of attention, but is, nevertheless, a very real issue for insurers and […]
By Jane Voll | September 30, 2007
4 min read
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