Claims
The Insurance Corporation of British Columbia (ICBC) has lost its bid to appeal a case in which a gas station owner was injured after a customer filled up her car with gas and attempted to drive away without paying.Parminder Kumar Nayar commenced an action against ICBC when he was hurt trying to stop an unidentified […]
By Canadian Underwriter | January 6, 2011
2 min read
The Office of the Superintendent of Financial Institutions (OSFI) has posted the final version of its Guidance for Reinsurance Security Agreements.OSFI expects all new agreements to comply with the guidance, beginning July 1, 2011.The guidance spells out criteria to be followed in order for federally regulated insurance companies to receive credit from OSFI for using […]
Dr. Gordon McBean, the Institute of Catastrophic Loss Reduction’s director of policy, has been elected to the College of Fellows of the Royal Canadian Geographical Society.The society is dedicated to imparting a broader knowledge and deeper appreciation of Canada – its people and places, its natural and cultural heritage and its environmental, social and economic […]
By Canadian Underwriter | January 5, 2011
1 min read
Canadian Market Proposed changes to capital test would decrease P&C insurers’ MCT scores by 14% Proposed changes to the 2012 Minimum Capital Test (MCT) would decrease federally regulated Canadian property and casualty insurers’ aggregate MCT ratio by 14%, to 212.6%, according to the Office of the Superintendent of Financial Institutions (OSFI).When applied to the Branches […]
December 31, 2010
5 min read
More frequently, insurers are seeing physical injury claims accompanied by claims for psychological injuries.
By Craig Harris, Freelance Writer | December 31, 2010
6 min read
A broker owes a duty of care to let a client know about negotiations concerning policy endorsements/exclusions, but a plaintiff that benefits from the negotiations will not be able to recover damages in court in the event the broker did not keep the plaintiff in the loop, a B.C. court has found.
By David McEwan, Q.C., and Fritz Gaerdes, Alexander Holburn Beaudin & Lang LLP | December 31, 2010
This two-part article discusses the real, potential and anecdotal effects of Ontario’s auto insurance reforms on access to health care for auto injury claimants. Part I of the article, reproduced below, analyzes the impact of the Minor Injury Guideline (MIG) and the Minor Injury Cap from the perspective of health care providers. Part II of […]
By Teresa Riverso, President, Supportive Environments Inc. | December 31, 2010
The enforceability of waivers depends on a variety of factors determined by the courts, including principles of contractual interpretation, the circumstances in which waivers are read (or not read) and the age of the people signing them.
By Lorne Folick, Senior Partner, Dolden Wallace Folick LLP (with help from Trevor R. Thomas, associate) | December 31, 2010
Insurers are working with their claims-handling partners to find new ways to reduce the $18 billion in claims costs Canadian property and casualty insurers paid out as of 2010 Q3. Innovation comes in various forms, including billing arrangements, more efficient business or best practices, reducing administrative costs and even changing the nature of the insurer-vendor partnerships themselves.
By David Gambrill, Editor | December 31, 2010
16 min read
Absent funding for re-building entire infrastructures, municipalities are taking creative approaches to help curb water damage due to sewer backup and basement flooding. This opens up new opportunities for collaboration between insurers and municipalities.
By Vanessa Mariga, Associate Editor | December 31, 2010
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