Claims
Two Ontario law firms intend to launch a $10-million class action lawsuit against VIA and CN Rail following the Feb. 26, 2012 derailment of a passenger train near Burlington, Ontario. The law firms of Sutts, Strosberg LLP and Falconer Charney LLP intend to commence a class action seeking compensation for physical and emotional injury, damage […]
By Canadian Underwriter | February 28, 2012
1 min read
The Autorité des marches financiers (AMF) has launched a consultation paper on the regulation of the sale of insurance products through the Internet. “Some industry participants see the current framework as restricting online transactions, whereas others view it as more permissive and interpret it liberally,” the AMF said in its paper, Internet Insurance Offerings in […]
By Canadian Underwriter | February 27, 2012
2 min read
Police in Manitoba have handed out more than 500 handheld, cell phone or texting traffic violations throughout the province thus far in 2012. Even so, Manitoba Public Insurance (MPI) cites a recent survey showing that even though drivers have been prohibited from texting and using a cell phone as of July 2010, drivers still continue […]
A Financial Services Commission of Ontario (FSCO) arbitrator in an accident benefits case has reserved a final decision on whether to award costs against a paralegal who brought an application for arbitration on behalf of his client — apparently without informing the insurer or FSCO that his client was deceased. The client, Corinne Warren Hancock, […]
By Canadian Underwriter | February 24, 2012
CORRECTION: In a news item posted on Feb. 23, Canadian Underwriter incorrectly stated that Swiss Re’s 2011 net income declined, when it had in fact increased. Canadian Underwriter apologizes for making this error, and the item below includes the correct information. Swiss Re reported a net income $2.6 billion for the full-year 2011, despite an […]
Insured water losses in Nova Scotia almost doubled over four years, increasing from more than $20 million in 2005 to more than $38 million in 2009. Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), presented this information during a tour of Atlantic Canada to discuss severe weather, with an emphasis on water […]
By Canadian Underwriter | February 23, 2012
Toronto Police have arrested 37 people and laid 130 charges in connection with Project Whiplash, an investigation into an alleged insurance fraud ring that resulted in insurance payouts totaling $4 million. Police say the ring featured staged auto collisions, false claims at several rehab providers across the Greater Toronto Area and the false use of […]
Insurance Bureau of Canada (IBC) took its message of climate change adaptation to New Brunswick, where data insured water damage losses have almost quadrupled in four years. Speaking to the Saint John Board of Trade on Feb. 22, IBC president and CEO Don Forgeron observed that water damage losses in New Brunswick escalated from $7 […]
By Canadian Underwriter | February 22, 2012
The Financial Services Commission of Ontario (FSCO) has released an arbitration decision that follows in the footsteps of the Ontario Superior Court, finding that a 60-day mediation timeframe is firm, despite a backlog of cases. In Nicholas Leone and State Farm Mutual Automobile Insurance Company, FSCO arbitrator Jeffrey Rogers concluded that the province’s mandated, 60-day […]
By Canadian Underwriter | February 21, 2012
The New Brunswick Union of Public and Private employees believes public auto insurance is one way to address the province’s budget woes. The union represents 8,500 workers in the public, private and manufacturing sectors. In a statement online, the union says it has met with the province’s finance minister, Blaine Higgs, at least eight times […]
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