Claims
Impact Forecasting, the catastrophe model development arm of Aon Benfield, announced Monday several new scenario models to generate loss estimates for specific historical or hypothetical events, including storm surge from last fall’s Hurricane Sandy. The massive flooding in Thailand in 2011 is another scenario included in the new suite of models, through which users can […]
By Canadian Underwriter | March 11, 2013
2 min read
A British Columbia court last week ruled against the provincial government’s auto insurance provider, which was sued by a commercial client whose accident claim was denied. In a decision released March 5, Madam Justice Lauri Ann Fenlon ruled that Streeper Contracting Ltd. did not forfeit its right to insurance on a heavy truck involved in […]
6 min read
Institutions that are part of the United Nations, along with partners including the World Meteorological Organization (WMO), will be hosting a meeting on national drought policy in Geneva this month, in an effort to combat the effects of what has become the most destructive natural catastrophe. The Food and Agriculture Organization of the United Nations […]
By Canadian Underwriter | March 8, 2013
Insurance carriers are starting to invest in analytics software to detect fraud, but what’s even more important is having claims staff who are good at using it, educating policy makers and preventing fraudsters from buying policies in the first place, speakers at a recent conference suggested. “Fraud has gotten more press than it ever has […]
By Canadian Underwriter | March 7, 2013
4 min read
Droughts are increasingly becoming one of the most destructive of natural catastrophes worldwide, with the number of loss-producing droughts doubling since the 1980s, but it remains an underestimated risk, notes a new report from Munich Re. Still, droughts remain an underestimated risk, notes the company’s new publication, Topics Geo 2012. Droughts are especially catastrophic because […]
Warming temperatures are expected to shed light on what the president of H&H Environment Construction and Consulting Inc. calls one the most pernicious issues residents of homes damaged by Hurricane Sandy will face – mould infiltration. Warming temperatures will reveal the hidden effects and extent of New York and New Jersey’s post-Superstorm Sandy mould problem, […]
By Canadian Underwriter | March 6, 2013
3 min read
February was marked by severe winter storms in the United States, with states of emergency being declared in at least six states, notes the latest Global Catastrophe Recap report from Aon Benfield. A powerful Nor’easter brought 102 cm of snowfall in Connecticut, and coastal flooding in Massachusetts, including in Boston, the report notes. While only […]
1 min read
The Ontario Court of Appeal has upheld a lower court’s decision in favour of Meloche Monnex Insurance Company, reiterating that the insurance provider breached its duty of care to a claimant of optional auto insurance benefits, but that the claimant wouldn’t have purchased those benefits anyway. Zefferino v. Meloche Monnex Insurance Company involved a collision […]
By Canadian Underwriter | March 4, 2013
The Financial Services Commission of Ontario is warning consumers that GIC Mutual Insurance Company is not licensed to do business in the province. GIC Mutual is selling fraudulent insurance cards to consumers, FSCO says. The phone number 1-800-552-2323 has been used in relation to the scam. FSCO’s website contains a list of all insurance companies and agents licensed to do […]
Australia Prime Minister Julia Gillard announced late last week that the federal government will invest $100 million over two years into flood mitigation projects to help reduce flood risk and bring about reductions in insurance premiums. The National Insurance Affordability Initiative will invest $50 million each of the two years in targeted flood and other […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
