Claims
Aviva Canada announced Thursday it has begun litigation against a former Mississauga, Ont. brokerage employee who was allegedly conspiring with policyholders to misrepresent themselves to get cheaper premiums. The owners of KMI Brokers Inc. are cooperating fully with Aviva’s investigation, the insurer noted. It has also endorsed the submission of complaints about their former employee’s […]
By Canadian Underwriter | June 26, 2014
2 min read
A seasonal outlook for near or below average hurricane activity in the Atlantic basin should not reduce the level of preparedness for property owners and reinsurers alike, suggests a report issued Wednesday by Guy Carpenter & Company LLC. While predictive and historical models can provide guidance, landfalls are always a real possibility and property owners […]
3 min read
BILLINGS, Mon. – Disclosures from railroads about volatile oil shipments from the Northern Plains show dozens of the trains passing weekly through Illinois and the Midwest and up to 19 a week reaching Washington state on the West Coast. The Associated Press obtained details on the shipments Tuesday under public records requests filed with state […]
By Canadian Underwriter | June 25, 2014
TOTTENHAM, Ont. – Environment Canada confirms that a low intensity tornado struck a rural area near Tottenham, Ont., north of Toronto on Tuesday afternoon. Environment Canada says its survey teams have rated the tornado as an EF-1 with maximum winds between 135 and 175 km/h. ”We had a team go out last night (Tuesday) to […]
By The Canadian Press | June 25, 2014
Homeowners in areas prone to wildfires should keep awnings and patio furniture away from the house, and those planning to build or renovate their homes should use dual-pane windows, Chubb Personal Insurance recommends. “Metal frame windows are best,” Chubb said in a press release. “If vinyl clad, choose those with metal reinforcements at the tops […]
By Canadian Underwriter | June 24, 2014
State Farm paid out $137 million in claims as a result of damage from lightning strikes last year the insurer reported Tuesday, adding that lightning is the second leading cause of storm-related deaths in Canada and the United States, behind flooding. In 2013, the insurer paid out $800,000 for 110 lightning claims in Canada, with […]
DETROIT – A recall of defective air bags is spreading to more manufacturers. BMW, Chrysler, Ford, Honda, Mazda, Nissan and Toyota will all recall cars at the U.S. government’s request because their air bag inflators could rupture. If that happens, the air bags might not work properly in a crash, and shards from the ruptured […]
1 min read
NEW YORK – Climate change is likely to exact enormous costs on U.S. regional economies in the form of lost property, reduced industrial output and more deaths, according to a report backed by a trio of men with vast business experience. The report, released Tuesday, is designed to convince businesses to factor in the cost […]
One in six American drivers surveyed, aged 75 or older, say they “tire easily or have slow reaction times” while 9% of respondents said they got lost or confused while driving, Liberty Mutual Insurance announced Tuesday. In a press release, Boston-based Liberty Mutual revealed some results of the survey, commissioned by Liberty Mutual and conducted […]
Evidence continues to mount concerning the costs and disruptive impacts that climate change will have on the economy, society and stability of the financial system, suggest finance sector groups that have published a guide to the Intergovernmental Panel on Climate Change (IPCC) findings on physical, economic and regulatory impacts of climate change. “The scale and […]
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