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Canadian reinsurers in 2006 collectively posted their highest net income in the past four years, according to data collected by the Reinsurance Research Council (RRC). The RRC data was presented by a panelist speaking at a Property Casualty Underwriter Club (PCUC) luncheon meeting in Toronto. In a presentation to the PCUC luncheon, Aon Re Canada […]
May 31, 2007
1 min read
The Insurance Bureau of Canada (IBC) has appointed Michael J. Donoghue, the president and CEO of the Allstate Insurance Company of Canada, as the chair of its board of directors.Rowan Saunders, the president and CEO of Royal & SunAlliance Canada, has been appointed deputy chair of the IBCs board.Donoghue is a vice president of the […]
By Canadian Underwriter | May 23, 2007
Timmins, Ontario will have a Collision Reporting Centre by the end of July 2007.Located in northeastern Ontario, the City of Timmins has a population of about 44,000 people.Accident Support Services Ltd., which facilitates collision reporting to the insurance industry, has announced that on July 30, 2007 it will open a collision reporting center in partnership […]
The B.C. government has capped at Cdn$1 million the vicarious liability car rental companies and by extension, their insurers face for accidents and damages caused by customers who rent vehicles.Currently, car rental companies face unlimited liability for accidents and damages caused by their customers, the B.C.s attorney general said in a press release. Changes will […]
By Canadian Underwriter | May 18, 2007
2 min read
Of the 23 changes made in 2005 to the standard commercial general liability policy (CGL) by the Insurance Bureau of Canada, seven are considered significant, attendees of the Canadian Independent Adjusters’ Associations Ontario Region educational seminar were told.The first major change is in regards to compensatory damages, Vincent Burns, partner at McCague Peacock Borlack McInnis […]
By Canadian Underwriter | May 11, 2007
Crawford & Company (Canada) Inc. has announced the creation of a commercial auto services branch, which will oversee programs in the commercial auto sector. Working with Crawfords global branch network, this new team will manage programs within the commercial auto sector, such as car and truck rentals, taxis, couriers, and commercial fleets.CEO John Sharoun notes […]
By Canadian Underwriter | May 9, 2007
Laval, Quebec police have broken up an alleged auto theft ring that may prove to be the biggest ever uncovered in Canada.Police estimate there are more than 700 fully assembled vehicles, plus 200 with parts removed on the 1,000-square foot lot of Recyclage dAuto Yasmine in Laval, reported the Montreal Gazette.An investigation by authorities was […]
By Canadian Underwriter | May 3, 2007
Pending a Supreme Court decision on the matter, the courts are linking automobiles to injuries that are not currently covered by auto insurance policies
By Deirdre L. Wade, Q.C,, and Talia C. Profit, Barry Spalding Lawyers | April 30, 2007
6 min read
The costs of insurance insolvency in Canada have been substantially lower than most countries, but the insolvency of insurance companies in this country has been on the rise over the past few decades, according to a report by the Property and Casualty Insurance Compensation Corporation (PACICC). PACICC’s 2007 report, Why Insurers Fail, was released at […]
April 30, 2007
The Insurance Bureau of Canada (IBC) is urging federal MPs to support Bill C-343, which would make auto theft a separate offence under the Criminal Code and implement mandatory jail times for repeat offenders.According to the IBC auto theft costs Canadians more than $1 billion a year, and the national rate of theft is 56% […]
By Canadian Underwriter | April 26, 2007
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