Claims
The Insurance Council of British Columbia is reminding insurance agents that any payments made to a property manager of a condo building or other third party must first be disclosed to the strata corporation.A strata corporation is a legal entity made up of owners of units in a condo development. It is responsible for managing […]
By Canadian Underwriter | January 18, 2011
1 min read
The Government of Nova Scotia has launched a new Web site soliciting input from the public as part of its Auto Insurance Review.”We want to make sure that the voice of auto insurance consumers is heard,” said Graham Steele, minister for the Insurance Act. “The purpose of this independent review is to ensure Nova Scotians […]
By Canadian Underwriter | January 17, 2011
Risk managers need to better understand how digital risks might affect their organizations and what they can do to mitigate them, according to a Lloyd’s 360 Risk Insight report.”Digital risks,” in this context, refers to the effects of natural disasters on communications systems, the actions of criminals to steal online banking information, the penetration of […]
By Canadian Underwriter | January 14, 2011
The Office of the Information and Privacy Commissioner in Saskatchewan says it has reached an impasse with Saskatchewan Government Insurance (SGI) over three ‘breach of privacy’ complaints related to the collection of personal health information under the Automobile Accident Insurance Act (AAIA).Saskatchewan’s privacy commissioner has recommended in a report that Saskatchewan’s legislature amend legislation to […]
2 min read
Floods ravaging large swaths of the Australian state of Queensland will likely trigger insured losses in the billions, according to unnamed sources in an Australian newspaper. If so, this would make the floods one of the costliest catastrophes to hit Australia.Floods have battered the area since the end of 2010, where the average rainfall in […]
By Canadian Underwriter | January 11, 2011
A change in the occupation test for determining Income Replacement Benefits (IRB) before and after a 104-week period of disability is not necessarily enough of a “change” of circumstances to warrant overturning an arbitrator’s order to pay IRB benefits.Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), made the ruling in Wawanesa Mutual Insurance […]
New research published in nature geoscience suggests the impact of rising Carbon dioxide levels in the Earth’s atmosphere will cause irreversible effects to the climate for at least the next 1,000 years.Based on their findings, researchers estimate a collapse of the West Antarctic ice sheet by the year 3000 and an eventual rise in the […]
By Canadian Underwriter | January 10, 2011
A B.C. broker has been fined $1,000 by the Insurance Council of B.C. for accidentally pitching his clients’ insurance records into the recycling bin of his residential condo unit instead of taking them back to his office to be shredded, as he had intended.A municipal recycling depot contacted the Insurance Corporation of B.C. (ICBC) in […]
By Canadian Underwriter | January 7, 2011
Risk managers for company superstores will want to make sure their companies check the repair of pallets that display store stock in the middle of their aisles, following a recent B.C. Supreme Court decision in Etson v. Loblaw Companies Ltd.A 78-year-old woman was found 50% at fault for not watching where she was walking after […]
Alberta has doubled the amount of property damage that must be sustained before requiring a motorist to report a vehicle collision to a peace office.Motorists must now report damages exceeding $2,000 instead of $1,000.The change came into effect on Jan. 1, 2011. Despite the increasing cost of vehicle repairs, the threshold had not changed in […]
By Canadian Underwriter | January 6, 2011
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