Claims
Saskatchewan insurance agents, brokers and adjusters will be required as of Nov. 1, 2010 to provide their provincial regulator with a copy of new minimum errors and omissions (E&O) limits when filing their annual reporting forms.Effective August 2010, the Insurance Councils of Saskatchewan changed its bylaws, requiring agents, brokers and adjusters to carry new minimum […]
By Canadian Underwriter | September 13, 2010
1 min read
Eight catastrophe bond transactions were completed in the 2010 Q2, bringing $2.05 billion in risk capital into the market, making 2010 Q2 the second-most active second quarter on record, reported Guy Carpenter.Of the $2.05 billion, $1.7 billion (and all but one transaction) included exposure to U.S. wind, Guy Carpenter said in its Capital Ideas.The number […]
Insurers could do more when it comes to reporting their approaches for underwriting environmental sustainability or sustainable claims management, a report commissioned by The Co-Operators found. The Co-Operators commissioned an international scan of sustainability practices of 17 companies, including 13 insurance/financial companies and three non-insurance companies. The study was based on publicly available information, primarily […]
By Canadian Underwriter | September 10, 2010
The global reinsurance industry has shouldered an estimated $8 billion-$12 billion in insured losses arising from the powerful earthquake that struck Chile on Feb. 27, 2010, according to Standard & Poor’s Ratings Services. “These losses put a significant dent in many re/insurance companies’ annual catastrophe budgets,” Standard & Poor’s says in its article, Reinsurers Foot […]
By Canadian Underwriter | September 8, 2010
Power has been restored and clean-up continues in the south and west ends of Halifax, which bore the brunt of Hurricane Earl’s 130 km-h winds on Sept. 4Hurricane Earl was a Category 1 storm when the eye made landfall near Shelburne, Nova Scotia. The storm was downgraded to a tropical storm as it swept through, […]
By Canadian Underwriter | September 7, 2010
Gilbertson Davis Emerson LLP has recruited accident benefits and insurance defence counsel Joan Takahashi to its team of insurance lawyers.Takahashi previously practiced with a large firm in Toronto and nearly 20 years of insurance defence experience. She also spent more than 10 years working in the insurance industry in multi-line claims adjusting, as well as […]
By Canadian Underwriter | September 3, 2010
The Canadian Hurricane Centre estimates there is between a 40% and a 50% chance of Hurricane Earl making landfall in Nova Scotia in the early morning of Sept. 4.”Probabilistic computer models generally show about a 80% chance of at least gale-force winds (60 to 70 km-h) over land in Nova Scotia,” the centre said in […]
By Canadian Underwriter | September 1, 2010
NEW BRUNSWICK OPPOSITION VOWS TO INCREASE MINOR INJURY CAP LIMIT IF ELECTED The New Brunswick Progressive Conservatives say they will increase the cap on soft tissue injuries if elected this fall. By how much remains to be seen, according to Times & Transcript. “The specific amount of how much will be based on a three-month […]
August 31, 2010
Weather tracking maps at the Canadian Hurricane Centre show Hurricane Earl could score a direct hit on Atlantic Canada sometime between Sept. 3 and Sept. 5Hurricane Earl, with maximum sustained winds of 205 km-h, is currently a Category 3 storm heading towards the U.S. and British Virgin Islands. “Based on the large-scale weather pattern and […]
By Canadian Underwriter | August 30, 2010
Nearly 70% of Ontario drivers do not understand the impending auto insurance reforms or how the reforms will affect their auto insurance coverage, according to a survey commissioned by RSA Canada.Leger Marketing was commissioned to conduct the RSA Canada Automobile Insurance survey. In the survey 1,524 Canadian adults were polled. Of these respondents, 625 resided […]
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