Claims
Touring flooded areas in the Quebec region of Montérégie, Prime Minister Stephen Harper announced the federal government is prepared to discuss a mitigation strategy that would apply to all provinces and territories to help enhance infrastructure to better withstand future floods. The discussions might include insurance programs for flood damage, which are currently not insured […]
By Canadian Underwriter | June 8, 2011
1 min read
The Insurance Bureau of Canada (IBC) announced Temagami, Temiskaming Shores, Sault Ste. Marie, Chatham-Kent, Timiskaming District and Aamjiwnaang (First Nations) were the Ontario communities with the highest participation rates per capita in the Emergency Preparedness Challenge presented by Emergency Management Ontario (EMO).The Emergency Preparedness Challenge, which ran throughout the month of May, is a provincial […]
By Canadian Underwriter | June 7, 2011
Catastrophe modeling firm AIR Worldwide estimates the outbreak of severe thunderstorms that struck the United States between May 20 and 27 will result in insured losses between $4 billion and $7 billion.AIR’s insured loss estimates reflect insured physical damage to property -residential, commercial, industrial and auto (both to structures and contents), as well as additional […]
By Canadian Underwriter | June 6, 2011
2 min read
Companies should not be establishing captive insurance entities simply to capitalize on tax advantages, a number of speakers cautioned at the 7th Annual Canadian Captives & Corporate Insurance Strategies Summit, held in Toronto on June 1.”We’d like to emphasize that we would never ask you to start a captive because it might save you tax,” […]
By Canadian Underwriter | June 2, 2011
Canadian Market Mutual policyholders of The Economical vote against dissident proposal to replace board Mutual policyholders of The Economical Mutual Insurance Company voted 649-192 on May 26 against a motion that would have removed its current board of directors and replaced it with directors named by VC & Company Advisory Ltd. VC & Company, a […]
May 31, 2011
5 min read
The property and casualty insurance industry is in the early stages of discovering and applying cloud computing services. Many say a maturing market in cloud services could generate large returns in areas such as claims processing, collaboration and customer relationships.
By Craig Harris | May 31, 2011
12 min read
An Ontario court decision found an insurer has a duty to defend a property vendor after the sale of the insured's home. It also suggested new wording for an "owned property" exclusion that might prevent similar situations from occurring in the future.
By Michael S. Teitelbaum, Senior Partner, Hughes Amys LLP | May 31, 2011
7 min read
Hundreds of exhibitors filled the Exhibit Hall at the RIMS 2011 Annual Conference & Exhibition in Vancouver. Held at the Vancouver Convention Centre, the show floor bustled with thousands of delegates from throughout North America and around the globe. The booths offered unlimited opportunities for learning, networking and sharing.
The 2011 RIMS Conference and Exhibition was held on ‘home turf’ in Vancouver, but that didn’t stop Canadian delegates from gathering for Canada Night, sponsored by SCM Insurance Services and the Canadian Litigation Counsel. The event offered fellow Canadians a chance to catch up and sample appetizers with a Canuck flare, to the benefit of […]
Responding to a proposed new definition for catastrophic (CAT) impairment, the Insurance Bureau of Canada (IBC) says two issues are central to insurers – upholding the use of “hospital admission” as a gatekeeper function for determining a catastrophic impairment, and concern that a suggested “interim” catastrophic impairment status might amount to a fraud magnet.IBC was […]
By Canadian Underwriter | May 31, 2011
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