Claims
Nova Scotia unveiled its proposed auto insurance reforms, which will be implemented in two phases over the next two years.The key aspects of the reforms contained few surprises, including enhanced no-fault, mandatory med-rehab limits of up to $50,000; a new minor injury treatment protocol based on Alberta’s current model; and an optional tort product for […]
By Canadian Underwriter | November 9, 2011
2 min read
Removing gender as a rating factor is not included in the 2011 auto insurance reforms released by Nova Scotia’s government. During a press conference, Graham Steele, the minister responsible for the province’s Insurance Act, said gender is a factor that has led to substantial premium differences between young women and young men.”The UARB [Nova Scotia […]
The Financial Services Commission of Ontario (FSCO) is warning consumers that Trust Insurance Company is not licensed to do insurance business in Ontario as either an insurer or insurance agency. “If consumers purchase insurance from agents or insurers that are not licensed in the province, they are not protected under the Insurance Act and the […]
By Canadian Underwriter | November 8, 2011
1 min read
Prior to a loss, an insurer has a duty of good faith to advise a policyholder in plain language about what the insurer considers a “material change” to a risk, the New Brunswick Court of Appeal has ruled. In Aviva Insurance Company of Canada v. Thomas, Aviva denied coverage to a policyholder, Hubert Thomas, after […]
Manitoba Public Insurance announced total fraud savings of $9.4 million in the last fiscal year. “This financial figure is based on an estimate of money recovered and fraudulent claims denied,” said Ted Hlynsky, vice-president claims control and safety operations with MPI.”This fraud savings is the direct result of Manitoba’s public auto insurer focusing on all […]
By Canadian Underwriter | November 7, 2011
Thailand’s Office of Insurance Commission (OIC) estimates the insured losses caused by flooding so far to be US$4.5 billion, reported Guy Carpenter. The country has experienced its worst flooding in years over the past few months, leaving more than 420 people dead and causing severe damage across northern and central regions of the country. At […]
By Canadian Underwriter | November 4, 2011
The Supreme Court of Canada may have raised more questions than it answered when it decided Wayne Crookes, et al. v. Jon Newton, a libel matter related to Web site hyperlinks, according to a recent Norton Rose Group ‘Legal Update.’In that case, the Supreme Court ruled a Web site hyperlink, by itself, should never be […]
By Canadian Underwriter | November 3, 2011
New Brunswick’s Auto Insurance Working Group has recommended that the government increase its minor injury auto cap from $2,500 to between $4,000 and $6,000.Also, the cap should be subject to annual indexing to CPI, the working group also recommended. New Brunswick appointed the working group in January 2011 to review the province’s $2,500 cap on […]
By Canadian Underwriter | November 2, 2011
An Ontario arbitrator has ordered an insurance claimant to produce photographs of herself, which she posted on private portions of her Facebook and Hi5 social networking sites, to help assess her entitlement to income replacement and other statutory accident benefits. Eniko Rakosi was injured in a motor vehicle accident on May 5, 2008. She applied […]
Canadian Market Banks banned from promoting unauthorized insurance on Web sites Canada’s new regulations prohibiting banks from promoting unauthorized insurance products and services on their Web sites are now official. The regulations came into force with very few amendments to the pre-published draft of regulations posted for public comment on Feb. 12, 2011. The only […]
October 31, 2011
4 min read
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