Industry
The 2009 RIMS Canada Casino Night, hosted by GCAN Insurance Company, was out of this world. The event was held at St. John’s Geo Centre, where full colour planets of our solar system hung in the centre’s three-storey reception hall. Guests could set the stakes as high as the stars at the cards table or […]
September 30, 2009
1 min read
Crawford & Company (Canada) hosted approximately 150 RIMS Canada delegates on Sept. 12 at the Masonic temple in St. John’s. Attendees were charmed by ‘Ruby’ a local comedienne, and were ‘screeched in’ as honourary Newfoundlanders. More RIMS Canada Conference, St. John’s coverage coming in the November issue.
Treatment providers and ancillary businesses have a vested interest in a person’s auto-related injuries, leading to disincentives in the system to get people better, according to Bob Reinhart, SIU investigator at RBC Insurance. Speaking to people attending the Annual Toronto Fraud Forum on Sept. 30, Reinhart said too many people in the accident benefits insurance […]
By Canadian Underwriter | September 30, 2009
2 min read
Canadian vehicle manufacturers have reached a voluntary agreement to equip independent service and repair providers with access to important information and tools for the repair of vehicles.As reported online by CBC, the new agreement, known as the Canadian Automotive Service Information Standard, was announced by Industry Minister Tony Clement on Sept. 29. “It will come […]
The Supreme Court of British Columbia recently derailed an effort by defence counsel to introduce 273 Facebook pictures that purportedly showed a car accident victim was exaggerating her injuries. In doing so, Mayenburg v. Lu sends a message that insurance defence counsel need to be very precise in court about how social networking evidence specifically […]
PPG Refinish has launched ‘MVP Business Solutions’ Web site. The site is tailored to PPG’s collision centre customers and contains information on MVP training, tools and service.“Customers can find out about our MVP offerings and quickly get up-to-the-minute information about training, conferences and service,” said Norm Angrove, senior manager of PPG Value Added Programs.“For example, […]
Standard & Poor’s (S&P’s) has lowered its unsolicited long-term counterparty credit and senior unsecured debt ratings on Kingsway Financial Services Inc. to ‘CCC+’ from ‘B-’.The negative outlook “reflects our assessment of the company’s weak profitability, weak liquidity, weak capital adequacy, uncertain insurance franchise, reduced competitive position, weak management oversight, weak enterprise risk management and limited […]
By Canadian Underwriter | September 29, 2009
The Insurance Brokers Association of B.C. (IBABC) is pleased that amendments to Bill 6, the Insurance Amendment Act, propose to eliminate an existing distinction between fire and multi-peril policies.Now in first reading, Bill 6 was introduced into the B.C. legislature on Sept. 15, 2009. Among other things, proposed amendments to Bill 6 include one set […]
U.S. property and casualty insurers plan to increase IT spending by 1.6% from 2008 to 2009, according to the fourth annual joint Information Technology (IT) spending survey conducted by Gartner, an IT research and advisory company, and the Property Casualty Insurers Association of America (PCI).This increase is very close to the 1.9% planned spending increase […]
Insurer capital bases have grown by 8% through the first half of 2009 after decreasing by 29% in 2008, according to Aon Benfield. Over the same period, reinsurer capital bases increased by 9% after decreasing by 15% in 2008, Aon Benfield’s Reinsurance Market Outlook: Resilient Without Assistance reports. “With both reinsurance buyer and seller capital […]
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