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The Insurance Bureau of Canada (IBC) teamed up with the Ontario Provincial Police (OPP) and several regional police forces to uncover a substantial auto theft ring in the Toronto area, recovering more than Cdn$1.5 million worth of stolen vehicles.The joint-force, called PATT (Provincial Auto Theft Team), consists of the IBC, OPP, Peel Regional Police Service, […]
By Canadian Underwriter | August 30, 2007
2 min read
Continued soft pricing, expense inflation and a drop in investment income marred the 2007 Q1 results reported by the Canadian insurance industry, according to a recent report by MSA Research Inc. and Baron Insurance Services Inc.Despite a 4.2% increase in direct premiums written ($7.7 billion at three months 2007 versus $7.4 billion for the same […]
By Canadian Underwriter | August 9, 2007
1 min read
The courts have carved out a role for themselves in the appraisals process, although they generally defer to the umpires on matters of procedure and expertise
By M. Kim Anderson, Robertson Stromberg Pedersen LLP | July 31, 2007
6 min read
The new president of the Canadian Independent Adjusters' Association (CIAA), Fred Plant, believes adjusters should open up a new dialogue to help fashion a clearer sense of purpose for the profession
By Vanessa Mariga | June 30, 2007
The U.S. property and casualty insurance industry recorded a declining return on equity (ROE) in 2007 Q1, despite good underwriting results, according to information released by ISO and the Property Casualty Insurers Association of America (PCI). During 2007 Q1, the U.S. property and casualty industry reported an ROE of 12.9%, down from 15.5% reported during […]
By Canadian Underwriter | June 29, 2007
Simmlands Insurance Brokers Ltd. is joining forces with Women in Insurance Cancer Crusade (WICC) to present the 2007 Canadian PGA Womens Championship Pro-Am on July 30 at the Ladies Golf Club of Toronto.This inaugural event will provide a fun-filled day prior to the Canadian PGA Womens Championship, all for the cause of cancer research, Simmlands […]
By Canadian Underwriter | June 28, 2007
The capital strength of the insurance industry is growing due to strong operating profitability, putting pressure on rates and resulting in a slow growth environment going forward, according to Thomas Holzheu, with Swiss Res Economic Research & Consulting Unit, in a Web cast. We should see a continuation in moderating or softening pricing and this […]
By Canadian Underwriter | June 22, 2007
When it comes to the disaster restoration industry, there are two major ways insurance factors in: claims by property owners on property insurance, and contracts on general liability.In many cases, an insurance company will be in a more powerful position than the insured who has made a claim, according to Ian J. Houston, partner at […]
By Canadian Underwriter | June 21, 2007
A conflict between the new regulations contained in Ontarios Bill 18, which deals with vicarious liability for vehicle leasing and rental companies, and s. 239 of the Insurance Act may be inadvertently thwarting the intent of Bill 18, according to Stephen R. Moore, a partner with Blaney McMurtry LLP.Moore was reached by e-mail after he […]
By Canadian Underwriter | June 8, 2007
Markel International has launched an insurance product to cover complementay and alternative medicine malpractice.The rise in popularity of no-win no-fee arrangements has increased the number of claims against alternative and complimentary practitioners, which has driven up the demand for malpractice insurance, Julian Brown, Markel underwriter, said in a statement.The new product will provide cover for […]
By Canadian Underwriter | June 4, 2007
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