Industry
Ontario’s Ministry of Transportation (MOT) is implementing an electronic verification system that will provide on-the-spot confirmation of insurance when drivers go to renew their licence plate.The Uninsured Vehicles Project (UVP) comes into effect on Nov. 29. It’s a joint initiative between the Ontario government and the Insurance Bureau of Canada to allow verification of mandatory […]
By Canadian Underwriter | November 11, 2010
1 min read
Claims
Ontario’s loss transfer rules can apply to an insurer with operations in the United States in relation to a loss that occurred in the United States, Ontario’s Court of Appeal has ruled in a brief endorsement.In Primmum Insurance Company and Allstate Insurance Company, a resident of Ontario was injured in a car accident while driving […]
Attendant care provided over the phone is becoming increasingly common, but this is not the same level of care as custodial care, cautions Phillipa Samworth, partner at Dutton Brock. “This is what I call ‘phone sex’ attendant care,” she said, speaking at a seminar hosted by the rehab firm VPI on Nov. 5. “You know […]
2 min read
Katherine A. Mabe will succeed Noel Walpole as president and CEO of The Economical Insurance Group (TEIG). She starts at The Group on Nov. 15, 2010. Prior to accepting her role at TEIG, Mabe was president of the specialty products division of Nationwide Insurance Company of America. In addition, she was president and CEO of […]
By Canadian Underwriter | November 10, 2010
Eight Canadian securities regulators are cooperating with the China Insurance Regulatory Commission (CIRC) to regulate Chinese insurance firms’ overseas investments in Canadian firms and recognized markets.The CIRC is authorized by the Chinese State Council to conduct administration, supervision and regulation of the Chinese insurance market, and to ensure that the insurance industry operates in compliance […]
A British Columbia arbitrator’s definition of “roadworthy” has withstood a challenge at the B.C. Court of Appeal, in a case in which the province’s auto insurer revoked its accredited status of a collision repair shop.The Insurance Corporation of B.C. (ICBC) cancelled the status of Hanna Collision Repair as an ICBC accredited collision repair shop and […]
Chesterfield Canada Inc., a specialist independent wholesale broker, is expanding its presence across Canada.The Lloyd’s broker has applied for and successfully obtained licenses to offer its wholesale products in Alberta and British Columbia.”We are very pleased that the regulatory authorities in both Alberta and British Columbia have seen fit to award us their licences to […]
Aftermarket replacement parts need to be reverse engineered to match the original equipment manufacturer’s specifications, not re-engineered, an Insurance Institute for Highway Safety (IIHS) report says.The Certified Automotive Parts Association (CAPA) recently released a certification standard, CAPA 501, for aftermarket bumpers, IIHS reported.The aim of the standard is to ensure that aftermarket copies match the […]
Regulators should abandon trying to define catastrophic impairment and focus instead on defining those who are “less hurt,” said George Cooke, president and CEO of The Dominion of Canada General Insurance Company.Cooke spoke at an Insurance Brokers of the Toronto Region (IBTR) luncheon on Nov. 9.The recent rounds of auto reform in Ontario were a […]
By Canadian Underwriter | November 9, 2010
EGI Financial Holdings reported a net income of $779,000 for 2010 Q3, marking a 65.5% decrease over its $2.3-million profit in 2009 Q3.During the quarter, EGI reported an underwriting loss of $2.9 million, a large decline from the underwriting profit of $284,000 reported in 2009 Q3. The insurer attributed the loss primarily to high claims […]
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