Claims
Here’s a quick math question for strata insurance experts: If there is a $50,000 policy deductible for each “occurrence” of illegal drug activity losses, and 29 out of 90 condo units in a single building are damaged because of marijuana grow-op activities, what is the total deductible? Is it a $50,000 deductible for one occurrence […]
By Canadian Underwriter | May 11, 2012
2 min read
EGI Financial Holdings Inc.’s net income for Q1 2012 rose 25% over the same period in 2011, largely in response to the numbers of written premiums and investment income. The company witnessed a 42% increase in written premiums in Q1 2012 compared with Q1 2011, rising to 43,939 from 30,850. The numbers translated to a 4.5% […]
By Canadian Underwriter | May 10, 2012
The Ontario Superior Court has derailed a plaintiff’s bid to obtain under new provincial rules for summary judgment a declaration that she suffered a “catastrophic impairment.” Nancy Stewart was severely injured in a motor vehicle accident on Nov. 4, 2005. The plaintiff was insured by State Farm and applied for no-fault benefits under the Statutory […]
By Canadian Underwriter | May 9, 2012
3 min read
Saint-Laurent, a Montreal borough, has become the first in the city to start modifying its fleet of heavy vehicles to help prevent the possibility of pedestrians and cyclists from accidentally falling underneath. The fleet will be equipped with lateral protection devices, a decision that follows the death of Jessica Holman-Price in 2005, who died after […]
By Canadian Underwriter | May 8, 2012
The 2012 Atlantic basin hurricane season will see reduced activity compared to the 1981-2010 average, the Tropical Meteorological Project of Colorado State University predicts. In a report released in April, Colorado researchers estimate there will be 10 named storms during the 2012 hurricane season (June 1 to Nov. 30), four hurricanes (median is 6.5) and […]
1 min read
Automotive Recyclers of Canada (ARC) is calling for a national approach to the environmental management of end-of-life vehicles (ELVs) in Canada. In a submission to the Canadian Council of Ministers of the Environment, ARC notes that although ELV processors are subject to a number of provincial and federal requirements, ELV management practices are highly variable. […]
By Canadian Underwriter | May 7, 2012
Crawford & Company (Canada) Inc. has a new environmental leader in Lori Festarini, who has 21 years of experience in environmental consulting and geoscience. As an environmental leader in Crawford’s Global Technical Services (GTS) division, Festarini will report to GTS’s national director, Paul Hancock. She will work with adjusters and clients to assist with environmental […]
Ontario is moving toward a real wage freeze for doctors, expected to result in savings of $338.3 million in 2012-2013. “The government is updating and rebalancing OHIP fees to better reflect current medical practices and new technologies and to avoid double-payments,” Ontario’s Ministry of Health announced in a press release on May 7. “Best practices […]
EQECAT has released an earthquake model for catastrophic risk that uses three-dimensional representation of seismic source geometry to capture Japan’s unique seismic settings. Incorporated into EQECAT’s global multi-peril platform, the Japan model offers region-specific innovations in both hazard and vulnerability. Key aspects include region-specific hazard definition, time-dependent recurrence rates, model validation/expert review, rational approach to […]
By Canadian Underwriter | May 4, 2012
The Court of Appeal for Ontario has issued a ruling that may have muddied the waters concerning homeowner coverage of innocent co-insureds. “There may now be coverage for an innocent co-insured who is alleged to have failed to act to prevent an intentional act, as long as that failure to act is not, in and […]
By Canadian Underwriter | May 3, 2012
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