Industry
The Insurance Council of B.C. is ready to crack down on licensees who fail to report changes to their address, email addresses or phone numbers.Since 2006, the council’s licensing model has placed a greater responsibility on brokers and agents in the province to comply with council rules, including a rule to notify the council of […]
By Canadian Underwriter | September 13, 2010
1 min read
A.M. Best Co. has upgraded the financial strength rating to ‘A’ (Excellent) from ‘A-‘ (Excellent) of SCOR S.E. (SCOR) (La Defense, France).In addition, A.M. Best increased the issuer credit rating to ‘a’ from ‘a-‘ for SCOR’s life and non-life North American operating subsidiaries.The rating actions apply to SCOR Canada Reinsurance Company (Toronto, Ontario), as well […]
By Canadian Underwriter | September 10, 2010
When it comes to broker-carrier interface technology, brokers want a clearer definition of what constitutes “real-time.”Brokers are expected to discuss and perhaps vote on a definition of “real time” while attending the Insurance Brokers Association of Canada (IBAC)’s annual general meeting in New Brunswick on Sept. 16-18. In IBAC’s Annual Report 2010, the association’s technology […]
The family of a man who was crushed to death while dismantling a truck flatbed for parts is not entitled to benefits because he was not fatally injured in an “ordinary and well-known activity to which automobiles are put,” an Ontario arbitrator has ruled.The parents of the deceased, Floyd Clause, have an auto scrap yard […]
Claims
Insurers could do more when it comes to reporting their approaches for underwriting environmental sustainability or sustainable claims management, a report commissioned by The Co-Operators found. The Co-Operators commissioned an international scan of sustainability practices of 17 companies, including 13 insurance/financial companies and three non-insurance companies. The study was based on publicly available information, primarily […]
Global reinsurers are shifting their domiciles from Bermuda back to Europe, particularly to Ireland and Switzerland, reports Standard & Poor’s (S&P’s).From the mid-1990s through 2007, Bermuda was the location of choice for reinsurers to establish new business. But the number of reinsurers moving to set up business in Europe has increased in the past few […]
2 min read
A golf cart is in fact an “automobile” under the Manitoba Public Insurance Corporation Act (MPIC), the Court of Queen’s Bench of Manitoba has ruled.Jeff Hruska sustained an injury to his right leg while a passenger in a golf cart in April 2003. He filed a negligence claim against the golf club and the golf […]
By Canadian Underwriter | September 9, 2010
Canadian property and casualty insurers have done a good job of keeping operational expenses in check, but are losing money on the claims side of the business, said Joseph Burtone, an assistant vice president at AM Best.Burtone spoke about the state of Canada’s property and casualty market at AM Best’s ‘Market Briefing: Canada’ seminar in […]
If an auto injury claim in Manitoba is denied on the basis that the damage was caused by a deliberate or willful act, a claimant does not have the option to have the Automobile Injury Compensation Appeal Commission (AICAC) review the decision, the Manitoba Appeal Court has found.Paule-Michelle Constantin reported to Manitoba Public Insurance (MPI) […]
A study examining ICBC’s investment in road improvements shows a correlation between those road investments and a reduction in fatal, severe-injury and non-injury crashes.The evaluation, conducted by Tarek Sayed, a civil engineering professor at University of British Columbia, and Paul Deleur, a transportation safety engineer, indicates ICBC’s investment in 102 road improvement projects showed a […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
