Claims
A Medicine Hat, Alberta insurance agent has reached a settlement agreement with the Alberta Securities Commission, in which he agreed to pay $70,000 for his role in a 2009 insider trading scheme. According to the settlement agreement and undertaking, James Roger Douglas, an insurance agent with Co-operators Insurance Company, knew and was a good friend […]
By Canadian Underwriter | April 4, 2012
2 min read
A severe weather storm spawned about 10 to 16 tornadoes in the Dallas-Fort Worth, Texas area on Apr. 3. Preliminary estimates by catastrophe modeler AIR Worldwide, citing Red Cross figures, suggest 650 homes were destroyed in the area. The National Weather Service is completing damage surveys of the affected regions of North Texas, at which […]
1 min read
Marsh has unveiled a new flood risk reinsurance pool in the United Kingdom designed to ensure that home insurance in flood-prone areas is widely available and fairly priced. Dubbed “Project Noah,” the plan involves insurers pooling their residential flood exposure across low and high-risk areas. Primary companies would then transfer their residential flood risks, less […]
By Canadian Underwriter | April 3, 2012
A special report by the Intergovernmental Panel on Climate Change (IPCC) paints a portrait of a world in which 1-in-20-year heat waves are likely to become 1-in-2-year events by the end of the 21st century. Similarly, 1-in-20-year maximum daily precipitation amounts will likely become 1-in-5-year events. And even though tropical hurricanes may be less frequent […]
By Canadian Underwriter | April 2, 2012
How do you stop distracted driving in a culture of distraction? The omnipresence of social networking and mobile technologies has changed consumers’ expectations about service delivery and personal communications. People want things immediately, and mobile technology makes it possible to communicate these desires instantaneously. Our fascination with the relatively new portability of our conversations has […]
By David Gambrill, Senior Editor | March 31, 2012
3 min read
CANADIAN MARKET Canadian companies record total profit of $4.53 billion in 2011: MSA Research Canadian property and casualty (P&C) companies reported a profit of $4.53 billion in 2011, according to figures released by MSA Research Inc. MSA Research’s aggregate industry totals are derived from the individual results of 220 Canadian property and casualty insurers. Overall, […]
March 31, 2012
4 min read
Ontario has changed its Rules of Civil Procedure, providing judges with expanded powers to decide issues summarily, thus making justice quicker and more affordable in some cases.
By Albert Wallrap, Associate, Dutton Brock LLP | March 31, 2012
8 min read
When Ontario reformed its auto insurance product in 2011, it opened up a whole new world for lawyers to debate how benefits expenses are "incurred" and "minor" injuries are defined.
By Donna Ford, Freelance Writer | March 31, 2012
6 min read
An author writes to Canadian Underwriter outlining how editorial revisions resulted in inaccuracies and omissions in his article about Kusnierz.
Changes in consumer expectations are causing the Canadian property and casualty insurance industry to re-consider its traditional way of selling products. In turn, this is causing brokers to re-think their business model. But while some may be quick to proclaim: "It's the end of the world as we know it," brokers generally feel fine about how it will all turn out.
By David Gambrill, Editor | March 31, 2012
16 min read
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