Claims
Despite losses from the recent tornado activity in the United States, property and casualty insurers there are still in a good position to take on catastrophe losses this year, especially from the likely active hurricane season, according to a briefing from A.M. Best. The major tornado that struck Oklahoma last month, and other storms in […]
By Canadian Underwriter | June 3, 2013
2 min read
Several amendments to Ontario auto insurance regulation took effect June 1, including changes to the Unfair or Deceptive Practices regulation and to the Statutory Accident Benefits Schedule. Ontario Regulation 7/00, which is part of the Unfair or Deceptive Practices Act, now makes it illegal to request, require or permit an insurance claimant to sign an […]
Growth in insured values in coastal regions in the United States fell from 7% to just under 4% per annum, in the last five years, according to a new report from AIR Worldwide. In the aftermath of Hurricane Katrina in 2005, AIR Worldwide released The Coastline at Risk: Estimated Insured Value of Coastal Properties. At […]
Representations and Warranties insurance, as an integrated transaction solution on mergers and acquisitions, is becoming a more viable alternative among intermediaries for closing a deal.
By Dane Hambrook | May 31, 2013
6 min read
What happens when a claims adjuster becomes suspicious while going through a claim. Hearing about the insured's reputation, the adjuster cannot shake his suspicions, and starts treating the insured differently. Is this behaviour unprofessional or unethical?
By The CIP Society - Insurance Institute of Canada | May 31, 2013
7 min read
It remains to be seen whether or not the $5-million punitive damage award ordered by a Saskatchewan court against two insurers will be upheld on appeal. But a lawyer speaking at a motor vehicle litigation seminar suggested the ruling signals the frustration of courts with the actions of some insurance companies.
By Donna Ford, Freelance Writer | May 31, 2013
CANADIAN MARKET Travelers to acquire The Dominion Travelers Companies Inc. has agreed to acquire The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited for about $1.1 billion in cash, subject to adjustment. The transaction is expected to close in 2013 Q4, subject to regulatory approvals and other customary closing conditions, Travelers notes […]
May 31, 2013
The Newfoundland and Labrador Court of Appeal recently ruled that The Dominion General Insurance Company of Canada does not have a duty to defend a homeowner policyholder who is being sued in connection with an all-terrain vehicle accident. However, The Dominion does have a duty to defend its policyholder’s wife and son because they do […]
By Canadian Underwriter | May 31, 2013
4 min read
More than four million United States homes, with a combined value of over $1 trillion, are at risk of hurricane storm surge damage, according to a new report from analytics firm CoreLogic. The firm estimates that 4.2 million single-family home along the U.S. Atlantic and Gulf coasts are at risk, half a million of which […]
3 min read
The National Insurance Crime Bureau is working with Oklahoma’s state insurance agency to educate residents about fraud, after about 23,000 claims have been filed following devastating tornadoes and storm events earlier this month. The Oklahoma Insurance Department, which oversees the insurance industry in the state, has reported that property and auto insurance claims related to […]
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