Industry
Hagerty Classic Marine has expanded its collector boat insurance operations into Canada. Underwritten by Elite Insurance Company (a member of the Aviva Canada group of insurers), the new program is now available in Ontario and will be rolled out over the next year in other provinces. “In speaking with Canadian collectors at shows and club […]
By Canadian Underwriter | October 20, 2010
1 min read
Soft market conditions persisted in the United States during 2010 Q3, although the rate of the price decreases slowed, according to the RIMS Benchmark Survey. Every line of insurance tracked by the Advisen-administered survey posted a decrease in average premium. General liability insurance, however, posted only a nominal decrease compared to the rest of the […]
2 min read
By proactively mitigating against fraud and investing in anti-fraud practices, insurers can see a potential return on investment of 7:1, according to Jeffrey T. Bowman, president and CEO of Crawford & Company. In the fall issue of Claims Advisor, Bowman notes that in today’s economic climate insurers around the world have developed a reduced tolerance […]
CARSTAR Automotive Canada Inc. announced the grand opening of CARSTAR Express South, in Edmonton, Alberta.The 2,000 square foot facility specializes in small repair, paintless repair, detailing and 3M paint protection film application. CARSTAR’s Express model specializes in the less severe damage done to vehicles – parking lot dents, scrapes and dings. The South Edmonton location is […]
Claims
Demand for professional indemnity (PI) coverage by the legal profession surged nearly 400% over 2009 leading up to Oct. 1 renewals, reports Aon.By August 2010, Aon reported receiving nearly four times the number of proposals than the same time last year. Aon suggested a fear of lack of availability spurred the early spike in demand. […]
Catastrophe reinsurance prices in the US have continued to soften, despite heavy losses so far in 2010, reports Guy Carpenter.The trend is also true on a global level, save for a few local areas like Chile, that experienced catastrophic events, it adds. The decline in prices vary by region, exposures and loss history, but generally […]
On an “expenses incurred” issue, an Ontario arbitrator has found a claimant catastrophically injured in a car accident is not obligated to purchase a new home before an insurer is liable to pay home modification benefits.Nevertheless, the arbitrator added, in the absence of an “invoice” to the insurer proving the purchase of a new home, […]
By Canadian Underwriter | October 19, 2010
3 min read
Catlin Canada will be expanding its presence across the country with the opening of two new offices – one in Montreal and one in Vancouver.The two offices will begin operating in early November, a Catlin release says.Pat Bruzzes, will lead the Montreal office. Prior to his new post he headed the Montreal office of GCAN […]
Manitoba Public Insurance (MPI) of Canada has gone live with FINEOS Claims to manage its claims for personal injury.FINEOS Claims is a Web-based universal claims software solution for property and casualty, life, disability and government insurance. “The project at MPI was designed and implemented within budget and on time and will be used by 200 […]
State Farm has partnered with the University of Western Ontario’s Insurance Research Lab for Better Homes (IRLBH), also known as the “Three Little Pigs Project,” to help discover ways to make homes safer and building materials stronger.Since December 2009, State Farm has invested $94,181.80 towards research initiatives with the IRLBH. “Specifically, State Farm helps fund […]
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