Claims
Phono Solar Technology Co. Ltd. of Nanjing, China announced this week it is offering insurance for Japanese customers buying solar photovoltaic modules. The insurance service, PhonoSolar says, would give parties who invest in solar power plants a “guarantee, should an installation be damaged or destroyed, that not only will they receive compensation for property and […]
By Canadian Underwriter | December 6, 2012
2 min read
Torrential rainfall in November has pushed 2012 into becoming the costliest flood year in the United Kingdom in five years, Aon Benfield’s global catastrophe recap for the month suggests. At least four people were killed and 1,100 homes damaged as a result of the heavy rains in the U.K. during November, the report notes. Read […]
A recent paper by two American scientists projects an increase in the intensity of tropical cyclones in the North Atlantic and suggests an increased probability of hurricanes in the future. The paper, dubbed Projected Increases in North Atlantic tropical cyclone intensity from CMIP5 models, was published in Journal of Climate. The authors examine projections in […]
By Canadian Underwriter | December 5, 2012
Munich Re has extended the range of solutions it offers for risks in renewable energy production with today’s announcement that it has become the first insurance group to offer serial loss cover for offshore wind energy units. Representatives for Munich Re’s Board of Management, Nordwest Assekuranz and turbine manufacturer REpower Systems SE, a subsidiary of […]
By Canadian Underwriter | December 4, 2012
New York governor Andrew Cuomo has introduced new measures for faster processing of superstorm Sandy-related claims by insurers, in an effort to have consumers receive payments faster, following major destruction after the storm. The state’s Department of Financial Services (DFS) announced Nov. 29 that under the governor’s direction, it had issued a new regulation that […]
By Canadian Underwriter | December 3, 2012
Some lawyers caution that Ontario's Ministry of the Environment is getting more aggressive about naming directors and officers as being personally responsible for clean-up costs. It is also important to note commercial general liability insurance policies do not usually cover risks of historical contamination and third-party liability does not necessarily cover clean-up costs of one's own property.
By Greg Meckbach, Associate Editor | December 1, 2012
7 min read
It may not have been the 11th hour, but it was close. The Ontario Automobile Insurance Anti-Fraud Task Force released its report - promised for the fall of 2012, following a sneak peak this summer - on November 22.
By Angela Stelmakowich, Editor | December 1, 2012
6 min read
The Ontario Regional Common Ground Alliance (ORCGA) works to prevent damage to underground infrastructure, including "lifelines" such as phone lines, Internet cables, water lines, natural gas lines and hydro lines. The insurance industry is seen as a strategic partner that can further advance preventive efforts.
By Jim Douglas, President, Ontario Regional Common Ground Alliance and John Trozzo, Insurance and Risk | December 1, 2012
5 min read
Adjusters Adapt to a Changing Claims Environment
December 1, 2012
14 min read
How recent court decisions may affect adjusters
By Glenn Gibson | December 1, 2012
11 min read
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