Claims
The Financial Services Commission of Ontario (FSCO) warned Tuesday that Wangro Antoun – who also goes by the names Yasser Antoun, Yasser Antoun-Debbo, Yaseer Debbo and Mano Faroq – is not licensed to “conduct” auto insurance business in the province. “Police have charged this individual with fraud, false pretences, possession of property obtained by crime […]
By Canadian Underwriter | September 3, 2014
2 min read
The Insurance Bureau of Canada announced Tuesday that a rain storm last month in Burlington, Ontario caused more than $90 million in insured damage, according to preliminary estimate from Verisk Analytics Inc.’s Property Claims Services (PCS) unit. “During the storm, Burlington received so much rainfall that local highways had to be closed because of flooding […]
By Canadian Underwriter | September 2, 2014
Tropical Storm Dolly, which Willis Re Inc. predicted would make landfall Tuesday night or Wednesday morning, is expected to produce heavy rain with “life-threatening flash floods” in northeastern areas of Mexico south of Texas. The United States National Weather Service predicted Tuesday morning gusts could exceed 90 kilometres per hour after it makes landfall. “Dolly […]
The Government of Nova Scotia announced Friday it will provide $147,500 to support five projects meant to help communities investigate the causes of flooding and explore solutions. “These projects will contribute to our ongoing efforts to help communities and homeowners plan for the worst, and prevent excessive damage from flooding,” environment minister Randy Delorey says […]
3 min read
It has been nearly two years since the Ontario Auto Insurance Anti-Fraud Task Force delivered its final report, with 38 recommendations. A number of regulatory changes were made and with the Liberals re-elected with a majority, it is expected that adoption of the remaining recommendations will accelerate.
By Willie Handler, Consultant, Willie Handler & Associates | August 31, 2014
5 min read
Canadian property & casualty insurers suffered $652 million in losses from catastrophes during the first eight months of 2014, while annual losses from 2009 through 2012 averaged $1.12 billion per year. A calm year provides an opportunity to prepare for an active one.
By Ted Gregory, Operations Manager, Property Claims Services, a unit of Verisk Analytics Inc. | August 31, 2014
The last two summers have brought record levels of hail damage to Alberta, and last month's storm in Aidrie was labeled as catastrophic. Unfortunately, some vehicle owners mistakenly believe their liability policy covers hail, while some property owners are unaware of coverage limitations on certain materials used in siding.
By Blake Reichert, Senior Regional Vice President Sales, Alberta Region, Western Financial Group | August 31, 2014
KUALA LUMPUR, Malaysia – Malaysia Airlines will cut 6,000 workers as part of a $1.9 billion overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters. The staff reduction represents about 30 per cent of its current workforce of 20,000. A search for a new CEO is underway but […]
By Canadian Underwriter | August 29, 2014
HONOLULU – The Federal Emergency Management Agency on Thursday denied Hawaii’s request for a major disaster declaration after Tropical Storm Iselle. Iselle made landfall over the Big Island’s isolated and rural Puna region nearly three weeks ago, knocking down trees and power lines. FEMA denied the request because “it has been determined that the damage […]
SWIFT CURRENT, Sask. – A Canadian Pacific Railway train derailed in southern Saskatchewan Thursday night. Spokeswoman Salem Woodrow said it happened about 7:30 p.m. east of Waldeck, which is about 200 kilometres west of Regina. She said initial reports were that 33 cars were off the tracks. She didn’t know what the cars were carrying. […]
By The Canadian Press | August 29, 2014
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