Claims

EQECAT updates insured loss estimate for Japanese quake, tsunami to between $22 billion and $39 billion Fallback Image Decorative pattern

Claims

EQECAT updates insured loss estimate for Japanese quake, tsunami to between $22 billion and $39 billion

EQECAT significantly increased its estimate of insured losses arising from the Mar. 11 Tohoku, Japan earthquake and tsunami, now saying the natural catastrophe could cost insurers between $22 billion and $39 billion. The catastrophe modeler initially estimated insured damages of between $12 billion and $25 billion.”The main factors contributing to this change in loss estimate […]

By Canadian Underwriter | May 10, 2011

1 min read

B.C. privacy commissioner rules insurers must give consumers explicit notice that credit scores will be used for underwriting Fallback Image Decorative pattern

Claims

B.C. privacy commissioner rules insurers must give consumers explicit notice that credit scores will be used for underwriting

B.C.’s Office of the Information and Privacy Commissioner has ruled that Economical Mutual Insurance Company must stop collecting and using credit scores until it provides customers with appropriate notification as required by the Personal Information Protection Act (PIPA).The order notes The Economical did include the following disclosure statement in its 2003 CSIO insurance application form: […]

By Canadian Underwriter | May 10, 2011

2 min read

Saskatchewan removes access to auto injury benefits for convicted car thieves Fallback Image Decorative pattern

Claims

Saskatchewan removes access to auto injury benefits for convicted car thieves

The Saskatchewan government introduced the necessary amendments to its auto insurance legislation to remove access to all auto injury benefits for convicted car thieves.Under the current legislation, convicted auto thieves injured in a motor vehicle collision can access all the same benefits through SGI’s injury coverage as any other Saskatchewan resident, including income replacement, rehabilitation […]

By Canadian Underwriter | May 5, 2011

1 min read

The Co-operators meets three-year target of reducing carbon footprint by 10% Fallback Image Decorative pattern

Claims

The Co-operators meets three-year target of reducing carbon footprint by 10%

The Co-operators met its three-year target of reducing its carbon footprint by 10% through measures such as office energy retrofits, switching to more fuel efficient vehicles for its corporate fleet and reducing paper usage.In its seventh annual sustainability report, entitled Measuring Our Impact, the company outlined its 2011-14 sustainability strategy.The strategy includes:• reducing the company’s […]

By Canadian Underwriter | May 5, 2011

1 min read