Claims
Ontario Provincial Police jurisdictions currently have a recovery rate of about 50% for stolen vehicles, compared to a 90% recovery rate in 1990. The figures were presented by Stephen Boyd, detective sergeant and program manager for the provincial auto theft team at the organized crime enforcement bureau of the OPP. Combat Auto Fraud, an ISB […]
By Canadian Underwriter | May 13, 2010
1 min read
A Level 3 general insurance agent nominee must do more than simply report regulatory concerns to her employers (the principals of the brokerage), especially when the concerns include the conduct of the principals, the Insurance Council of B.C. has ruled.Raghbir Kaur Atwal was ordered to pay a fine of $5,000 for her role in failing […]
By Canadian Underwriter | May 12, 2010
2 min read
Ontario’s demand for domestic content may present new risks associated with insuring alternative energy sources such as wind power.Panelists at the CleanTech in Canada Breakfast Seminar in Toronto speculated the province’s demand for domestic content might mean developers of clean technologies will face a potential supply chain risk.That is, developers of wind power technologies will […]
Proposed amendments to British Columbia’s Insurance Act include the requirement that alternative dispute resolution (ADR) be the first step in resolving insurance disputes.The amendment is intended to reduce the number of insurance disputes that end up in litigation, said the Insurance Dispute Resolution Services of British Columbia (IDRSBC).The new Insurance Amendment Act was introduced into […]
By Canadian Underwriter | May 11, 2010
New Brunswick is keeping an eye on the outcome of Nova Scotia’s recent decision to triple its minor injury damages cap from $2,500 to $7,500, according to a report by the Times & Transcript, based in Moncton, New Brunswick.New Brunswick currently has a $2,500 minor injury cap.“We’re going to take a look at what Nova […]
British Columbia’s solicitor general is mulling over the idea of making driving records — including impaired driving infractions — public, reports the Times Colonist.Mike de Jong, B.C.’s solicitor general, told the Times Colonist he would consider setting up a system similar to Ontario’s. In Ontario, people can pay a fee to view another person’s driving […]
By Canadian Underwriter | May 10, 2010
Board directors of financial institutions “need to take better ownership for averting the next [financial] crisis,” says Canada’s solvency supervisor.This means board directors should take a more active role in supervising and the risk management decisions of corporate management, said Ted Price, assistant superintendent of the supervision sector office at the Office of the Superintendent […]
Hiring experienced counsel to help craft strategic offers of settlement might just be the most cost-effective way for an insurer to negotiate Ontario’s newly expanded small claims court, Todd J. McCarthy of Flaherty Dow Elliott & McCarthy told a Canadian Independent Adjusters’ Association (CIAA) Ontario chapter seminar in Toronto.“Strategically importing counsel at the right time […]
By Canadian Underwriter | May 7, 2010
The Institute for Catastrophic Loss Reduction (ICLR) has retrofitted a home in Jasper, Alberta to be wildfire resistant. The Jasper home retrofit includes:• cedar roof shingles replaced with asphalt shingles;• cedar siding replaced by stucco;• coniferous bushes replaced with deciduous plants;• reduction of surrounding ladder and forest litter/fuels;• reduction of forest litter/fuels behind property;• wood […]
By Canadian Underwriter | May 5, 2010
Canada’s Department of Justice has re-introduced a bill in the Senate that seeks to create a separate offence for motor vehicle theft and stop the trafficking of property obtained by crime.“Our government is taking action to protect Canadians, their property and their communities,” Justice Minister Rob Nicholson said in a press release. “Auto theft is […]
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