Industry
The retroactive application of the Limitations Act does constitute a genuine issue for trial, according to the Ontario Court of Appeal. In Camilli v. Guardian Insurance, a three-judge panel agreed to set aside a Superior Court summary judgement issued in favour of an insurer by Justice Jack Jenkins. The case involves property damage caused by […]
By Canadian Underwriter | April 1, 2008
1 min read
The hourly rate applied to the Level 2 attendant care of basic supervisory functions has increased, as per an amendment in the Statutory Accident Benefits Schedule. A revised Assessment of Attendant Care Needs (Form 1) for accidents occurring on or after Mar. 31, 2008 is consistent with the increase in the general Ontario minimum wage, […]
2 min read
Canada’s insurance industry has initiated a number of ambitious, large-scale communications projects over the past few months, many of them based on the premise that communications are fundamentally flawed between the industry and the public. The Insurance Bureau of Canada has done research showing most consumers have no idea what the basic concepts of insurance […]
By David Gambrill Editor David@canadianunderwriter.Ca | March 31, 2008
3 min read
Asurprising number of Canadians lack a basic understanding of some of the most fundamental concepts of insurance, according to research conducted on behalf of the Insurance Bureau of Canada (IBC). In a study of 3,220 Canadians, undertaken by the research firm Pollara, only a small majority (58%) of respondents knew that when a person pays […]
March 31, 2008
Desjardins General Insurance (DGI) is now offering direct home and auto insurance in Ontario. “We’ve been planning and researching our launch into the Ontario mass market for some time,” Jean-Francois Chalifoux, general manager and senior executive vice-president at DGI, said in a company release. “We believe there is a significant opportunity for a true direct […]
Bonnie Lysyk, IBC's new vice president, Ontario, has left her home province of Manitoba and its public auto insurance system to help reform Ontario's private auto insurance market
By Vanessa Mariga | March 31, 2008
6 min read
The net income of Canada’s property and casualty industry dropped to Cdn$4.008 billion in 2007, a 3.6% decrease over the Cdn$4.158 billion it recorded in 2006. MSA Research Inc. posted its year-end, aggregate financial data for 2007. In addition to reduced profits, MSA figures also show increasing loss ratios and combined ratios. The 2007 net […]
Royal & SunAlliance Canada has reported a 2007 net income of Cdn$183.6 million. (The company’s net income above was calculated according to Canadian GAAP rules; elsewhere, figures are based on accounting rules in the United Kingdom.). Royal & SunAlliance reported net written premiums of Cdn$1.5 billion (702.7 million), up 8.7% over the prior year. Its […]
Financial Services Commission of Ontario (FSCO) has temporarily suspended the Health Claims for Auto Insurance Guideline (HCAI) at the request of the Insurance Bureau of Canada (IBC). In a letter to the Ontario insurance regulator dated Mar. 10, 2008, IBC recommended the suspension of the operations of HCAI by the close of the business day […]
Profitable brokerages pay roughly the same wages as struggling brokerages, but employees in successful brokerages are far less frustrated with their workloads, a recent profitability survey notes
By Michael Berris, CEO, Berris Mangan Chartered Accountants Insurance Consulting Group And Vanessa Jack | March 31, 2008
5 min read
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