Claims
The Ontario Pond of the Honourable Order of the Blue Goose hosted its annual Christmas Galabration on Dec. 17, 2010. More than 100 ganders and guests attended an elegant evening of fellowship, dining and dancing in the true spirit of the Christmas season. The event was held at the trendy Thompson Toronto hotel. •
November 30, 2010
1 min read
The 2010 Atlantic hurricane season was one of the busiest on record, the National Oceanic and Atmospheric Administration (NOAA) reports.”As NOAA forecasters predicted, the Atlantic hurricane season was one of the most active on record, though fortunately most storms avoided the U.S.,” said Jack Hayes, director of NOAA’s National Weather Service. “For that reason, you […]
By Canadian Underwriter | November 29, 2010
A Toronto man has been charged in connection with an insurance fraud investigation. According to Toronto police, the fraud scheme involved a paralegal who said he was operating under Royal Sun and Alliance Company, using ‘Executive Brokers’ as the name of the insurance broker. The brokerage address was presented as 251 Consumers Road #1200.Police allege: […]
By Canadian Underwriter | November 25, 2010
The Canada Revenue Agency (CRA) has confirmed that business income earned by a Barbados “exempt insurance company” (EIC) may generally be repatriated to Canada free of Canadian tax, despite the EIC being subject to a very low amount of tax in Barbados.An EIC is a company licensed under the Barbados Exempt Insurance Act (BEIA) to […]
2 min read
New Brunswick is the latest province to introduce legislation combating distracted driving, prompting the praise of Insurance Bureau of Canada (IBC).New Brunswick’s proposed law would prohibit, while driving, the use of any electronic device with a display screen, communication device or entertainment device that is not firmly attached to a vehicle’s dashboard.”Insurers welcome the new […]
By Canadian Underwriter | November 24, 2010
The most recent International Accounting Standards Board draft contains fundamental changes that would alter existing Canadian P&C valuation methods and the way that insurers’ income is presented, PricewaterhouseCooper’s said in its Fall 2010 Insurance Review.The proposals are the result of the IASB and the Financial Accounting Standards Board’s joint efforts to develop a single converged […]
By Canadian Underwriter | November 23, 2010
Canadian securities regulators are seeking public comment on proposed rule changes that would enhance the quality of disclosure of executive compensation.”The proposals clarify existing requirements and introduce new substantive requirements to enhance the quality of information disclosed by public companies about key risks, governance and compensation matters,” a Canadian Securities Administrators (CSA) press release says.The […]
By Canadian Underwriter | November 22, 2010
The Insurance Council of British Columbia has placed conditions on the license of SSEI Insurance Agency and suspended the license of its sole officer and director, Nicholas Di Perno, pending an investigation of misconduct allegedly occurring at the sports and special events insurer.In a ‘Decision and Order’ published online in November 2010, the council said […]
An Ontario arbitrator has ordered a claimant to provide his insurer, Aviva Canada, with two years’ worth of medical and prescription records in a non-earner benefits case.This is one year beyond the standard practice of requiring production of only one year’s worth of medical records in accident benefits arbitrations.Aviva initially asked the claimant to produce […]
By Canadian Underwriter | November 18, 2010
Insurance Bureau of Canada (IBC) is applauding the federal government for passing Bill S-9, known as the Tackling Auto Theft and Property Crime Act. “IBC has worked tirelessly with our partners in law enforcement and with key members of Parliament to advance this important legislation through the House of Commons and the Senate,” said Rick […]
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