Industry
Teenage drivers’ cell phone usage edged higher in North Carolina after the state enacted a cell phone ban for young drivers, research from the Insurance Institute for Highway Safety (IIHS) found.Similar legislation banning all drivers from using a hand-held cell phone exists in Newfoundland and Labrador, and several Canadian jurisdictions, including Ontario, have considered such […]
By Canadian Underwriter | June 9, 2008
1 min read
New Brunswick’s Court of Appeal has upheld the notion that insurers can reasonably protect their own interests in a no-fault case, even if those interests are sometimes at odds with the interests of the insured.In Veno v. United General Insurance Corporation, New Brunswick’s Court of Appeal agreed with a lower court decision that essentially spelled […]
By Canadian Underwriter | June 6, 2008
2 min read
A.M. Best Co. has upgraded the financial strength ratings (FSR) of AXA Insurance (Canada) (Ontario), AXA Pacific Insurance Company (British Columbia) and AXA General Insurance Company (Newfoundland) from A- to A. In addition, A.M. Best has affirmed the FSR of A of the operating parent, AXA Assurances Inc. (Montreal, Quebec) and its other wholly owned […]
After the recent collapse of Bear Sterns, TrainingIndustry.com has published an online article asking the question: Has the SOX [Sarbanes-Oxley] regulation and the massive investment to training corporate executives failed us? “Was the training to the executives adequate to identify and report risks or is Sox just a bad law?” asks the article published online […]
Eighty-seven per cent of the 40 global (re)insurance CEOs surveyed by the Geneva Association expect a minor tightening of regulatory framework as a result of the credit crisis.This expectation would be based on the “spill-over” effect of anticipated major changes to banking regulation, the association said in a release.The International Association for the Study of […]
The Co-operators has granted a total of Cdn$173,096 to 11 community-based organizations. The organizations are dedicated to helping disadvantaged Canadians build financial independence, the company notes in a press release.”Community economic development organizations strengthen Canadian society by helping those they serve become more self-reliant and integrated into the economic and social networks of their communities,” […]
By Canadian Underwriter | June 5, 2008
A 71-year-old woman diagnosed with Myofascial Pain Dysfunction as the result of a motor vehicle accident has not met the threshold of “a permanent and serious impairment,” the Ontario Superior Court has ruled in Rosypskye v. Stewart. The court found the law in this area is based on the 1993 case of Meyer v. Bright. […]
Thousands of Prairie farmers were notified, two months after the fact, that their personal and financial information was the subject of a data breach, the Winnipeg Sun has reported.Agriculture and Agri-Food Canada sent out letters to nearly 32,000 canola producers in Manitoba, Saskatchewan, Alberta and British Columbia, informing them a laptop was stolen containing their […]
Manitoba Public Insurance has selected FINEOS Claims to manage claims for bodily injury resulting from road accidents. “Improving efficiencies in claims processing underpins our strategy to maintain and improve the highest levels of claimant satisfaction for Manitobans,” Dan Guimond, vice-president of business innovation and insurance operations at MPI, said in a release. “We believe that […]
By Canadian Underwriter | June 4, 2008
The Supreme Court of Canada’s decisions in the twin 2007 cases of Herbison and Vytlingham have already changed the fate of a case in the Court of Appeal in Alberta.The Court of Appeal of Alberta has granted the appeal of ING Insurance Company of Canada in a case that tested the insurer’s policy definition of […]
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