Claims
A Canadian manufacturer of paper towels and personal tissue this week completed its application to the Supreme Court of Canada for leave to appeal a ruling which disallowed a subrogated claim against the operator of a Vancouver area warehouse. Kruger Products LP wants to appeal a January decision by the British Columbia Court of Appeal […]
By Canadian Underwriter | May 24, 2013
5 min read
The National Oceanic and Atmospheric Administration issued its Atlantic hurricane season outlook Thursday, predicting an active or extremely active storm season this year. For the six-month season, which begins June 1, the NOAA’s Climate Prediction Center said there is a 70% likelihood of 13 to 20 named storms (with winds of 39 miles per hour […]
By Canadian Underwriter | May 23, 2013
2 min read
More than 90,000 impaired driving incidents were reported by police in 2011 in Canada, up by roughly 3,000 over the year prior, the Insurance Brokers Association of Ontario noted this week as part of an ongoing safety campaign aimed especially at young drivers. While the rate of serious incidents caused by impaired driving has decreased, […]
Preliminary damage estimates from a tornado that devastated Moore, Oklahoma place replacement value of properties between $2.2 billion and $6.4 billion, according to AIR Worldwide. The replacement value is dependent on the buffer zone around the track of the tornado — within a 0.4 mile buffer zone (total width of 0.8 miles) the estimate is […]
By Canadian Underwriter | May 22, 2013
3 min read
Ongoing regulatory reform, particularly related to Ontario auto insurance, along with general industry consolidation, means Canadian independent medical evaluation companies must diversify their offerings and continue working with stakeholders, a new whitepaper from Cira Medical Services argues. Reforms in 2010 to Ontario’s Statutory Accident Benefits Schedule (SABS) have already had an impact on the IME […]
The Ontario Provincial Police (OPP) have reported two fatalities over the Victoria Day long weekend, one involving a pedestrian and a distracted driver. A 79-year-old woman was killed after being struck by a driver who was reportedly using a handheld communications device, the OPP said in a statement Tuesday. The other fatality over the weekend […]
By Canadian Underwriter | May 21, 2013
1 min read
While nearly two thirds of Canadian organizations included in a recent survey say they’re prepared to handle “insider threats,” only about one in seven have a specific internal definition of what those threats could be, according to a report from the Conference Board of Canada. An insider threat is “any person who has the potential […]
The composite rate index for U.S. property, casualty and professional liability business is plus 5%, matching the increase from March 2013, according to MarketScout, a Dallas-based insurance exchange with 35,000 users throughout the United States, mainly independent retail agents. Commercial property rates were up the most of all coverage at plus 6%, the insurance exchange […]
Prospective insurance clients are becoming more sophisticated, carriers and brokers need to provide full disclosure to their clients and one misstep can ruin your brand, suggests Bob Dempsey, president and chief operating officer of the Guarantee Company of North America. In a presentation May 15, Dempsey suggested a “black box” approach to underwriting will not […]
By Canadian Underwriter | May 17, 2013
4 min read
More than 32 million people worldwide were forced to leave their homes last year because of disasters such as floods, storms and earthquakes, according to a recent report from the Internal Displacement Monitoring Centre. In 2012, of the roughly 32.4 million people displaced from their homes, the majority were in Asia and west and central […]
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