Claims
The New York Senate has passed three bills intended to help combat auto fraud. One bill creates the crimes of staging a motor vehicle accident in the first, second and third degrees. Specifically it prohibits acting as a passenger or an operator of a motor vehicle with intent to defraud by means of planning and […]
By Canadian Underwriter | March 23, 2012
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Automobile dealerships in British Columbia may face more stringent educational and licensing requirements in selling “secondary automobile insurance products,” according to the Insurance Council of British Columbia. Dealerships in the province have been allowed to market secondary products, such as anti-theft insurance, under restricted general licences since 2009. “As new and more complicated insurance products […]
In an age of “electronic aggression” on the Internet — cyber-bullying, for example — insurers may wish to consider excluding personal injury, bodily injury or property damage from personal lines (homeowner) policies. Swiss Re held an online discussion about the impact of social media on personal lines insurers on Mar. 22. The discussion referenced a […]
By Canadian Underwriter | March 22, 2012
Ontario residents understand the frequency of insurance fraud, but don’t necessarily know how to blow the whistle on perpetrators, a consumer poll by the Insurance Bureau of Canada (IBC) shows. Conducted by Pollara, the survey found 83% of Ontarians believe fraud occurs frequently or occasionally in the province. The vast majority (96%) make the connection […]
1 min read
An Ontario arbitrator has allowed an insurer a mulligan after the insurer was more than five months late in filing a response to an application for arbitration. A Financial Services Commission of Ontario (FSCO) arbitrator made an order allowing Pilot Insurance Company to file a response to an application for arbitration well beyond the 20-day […]
State Farm Insurance Company must pay a claimant’s income replacement benefits (IRB) with interest, plus a special award of $23,000 for unreasonably withholding the benefits, an arbitrator from the Financial Services Commission of Ontario (FSCO) has ruled. Arbitrator Denise Ashby ordered the payment and special award in the decision Marcia Henry and State Farm Automobile […]
By Canadian Underwriter | March 21, 2012
With insurance fraud in the spotlight, the Insurance Bureau of Canada (IBC) recently released its highlights of head-scratching antics by scam artists. “There’s nothing funny about insurance fraud,” the IBC noted. “But sometimes you can’t help but laugh at some of the outrageous scams and schemes.” Recognizing March as Fraud Awareness Month, the bureau listed […]
A woman who swerved on a bicycle to avoid a parked vehicle and injured herself was in a “motor vehicle accident,” according to an arbitrator from the Financial Services Commission of Ontario (FSCO). In the decision DiMarco and Chubb Insurance Company, arbitrator Deborah Pressman accepted that the incident arose directly from the “use or operation” […]
By Canadian Underwriter | March 20, 2012
In the absence of more aggressive global initiatives targeting climate change in the future, “more disruptive climate change is likely to be locked in” by 2050, according to the Organisation for Economic Co-operation and Development (OECD). Released on Mar. 15, the OECD Environmental Outlook to 2050: The Consequences to Action suggests that by 2050, the […]
By Canadian Underwriter | March 19, 2012
Eqecat Inc. suggests preliminary estimates of insured damage from the recent tornado outbreak in Michigan are less than $100 million. The catastrophe risk modeling firm said three tornado touchdowns on Mar. 15 in Michigan caused the destruction of 13 homes and damage to more than 100 residences. The most damaging touchdown was an estimated EF3 […]
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