Claims
Staged collisions can be very lucrative for fraudsters managing treatment centres, an Insurance Bureau of Canada official says. IBC has evidence that some clinics whose owners or managers are involved in organized crime are paying co-conspirators $2,000 to $3,000 for every person they recruit to participate in a staged collision, said Kathy Metzger, an IBC […]
By Canadian Underwriter | February 7, 2013
3 min read
Insurers should be heartened by some recent decisions around auto fraud, perhaps signalling a shift from what some may have been viewed as a pro-claimant bent at the Financial Services Commission of Ontario (FSCO), one lawyer says. “There have been in the last couple of months some massive developments in terms of how we’re addressing […]
4 min read
Half of employees who left or lost their jobs last year took confidential data with them when the departed, with 40% planning to use that data in their new job, findings from a new global survey suggest. The report from the global survey, “What’s Yours Is Mine: How Employees are Putting Your Intellectual Property at […]
By Canadian Underwriter | February 6, 2013
Asian Development Bank recently published a report which suggests the Asia Pacific region could benefit from legislative reforms targetting the insurance sector. ADB, based in Manila, aims to reduce poverty in the Asia Pacific region through loans, grants and technical assistance targetting urban development and the finance sector. The report, titled Investing in Resilience: Ensuring […]
By Canadian Underwriter | February 4, 2013
Georgia’s insurance and safety fire commissioner has announced the tornadoes that struck the state last Wednesday caused an estimated $75 million in insured losses. “That figure will rise as new claims are reported,” Ralph Hudgens said in a statement late last week. “Damage to the Daiki Corporation manufacturing plant in Adairsville (60 miles north of […]
An Ontario court ruled this week against Jevco Insurance when a judge decided that auto insurance providers must defend actions against their policyholders even after paying their policy limits, but slammed the province’s Standard Automobile Policy (SAP) for “muddled and contradictory” wording. Jevco wrote an insurance policy for Vishal Malaviya, who was sued as a […]
By Canadian Underwriter | February 1, 2013
Much of the United States will continue to see drought conditions over the next few months, although some areas will have some relief, according to the National Weather Service’s seasonal drought outlook. Over the past month, there had been some above-normal precipitation in the southern Plains (eastern New Mexico and Texas), parts of the central […]
2 min read
The Financial Services Commission of Ontario (FSCO) laid 84 charges under Ontario’s Insurance Act in mid-January against two Toronto rehabilitation clinics and four individuals alleged to have submitted false invoices to auto insurers. The clinics were each charged with seven counts of knowingly making false or misleading statements to an auto insurer to obtain payment for […]
January 31, 2013
Improving the insurance claims process and upgrading or replacing claims systems were among the key focus areas for the majority of insurance claims professionals in the U.S. responding to a survey by Massachusetts-based Trillium Software. Almost 93% of respondents cite insurance claims process improvement as the top initiative to lower operational costs, notes a statement […]
1 min read
The Canadian insurance industry could see more merger and acquisition activity in 2013, in part because of continuing low investment returns, suggests a new outlook report from Aon Risk Solutions. Overall, the market will remain stable in 2013, and insurers are expected to continue showing underwriting discipline this year, notes the company’s 2013 Canadian Insurance […]
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.
