Claims
After side-swiping the North Carolina coastline, a weakened Hurricane Earl is heading in the direction of Nova Scotia as a Category 2 hurricane.The Canadian Hurricane Centre said in a statement on Sept. 3 that hurricane watches are in effect for Halifax, Lunenburg, Queens, Shelburne, Yarmouth and Digby counties of Nova Scotia.In addition, tropical storm warnings […]
By Canadian Underwriter | August 30, 2010
1 min read
If a claimant has not submitted an OCF-1 form (Application for Accident Benefits) to an insurer, it does not automatically disqualify them from being considered to have provided a completed application for accident benefits, Ontario’s Court of Appeal ruled. Four people travelling in a car were injured in a car accident in 2006. Francisco Quintera […]
By Canadian Underwriter | August 27, 2010
2 min read
Catastrophe losses for the first half of 2010 have already exceeded the $5 billion of catastrophe losses reported for the whole of 2009, reports Fitch.Fitch evaluated data from 50 U.S. property/casualty insurers and found that underwriting results took a hit in 2010 H1 as a result of $8.3 billion in catastrophe losses. The figure is […]
Industry
Manitoba Public Insurance (MPI) launched a Web application that enables glass repair facilities to register claims on behalf of customers.‘eGlassClaim’ interfaces with MPI’s claims systems and enables customers to initiate glass claims at the repair shop of their choosing. Under the old system, customers were required to report claims to MPI’s call centre first.Glass repair […]
Customer satisfaction with auto insurers improved 26 points from 2009, despite the fact that a sizeable proportion of policyholders indicated experiencing premium increases, reports J.D. Power and Associates.In its third annual 2010 Canadian Auto Insurance Customer Satisfaction Study, J.D. Power measures auto policyholder experiences with their primary insurer. Customer satisfaction is measured across interaction, price/premium, […]
By Canadian Underwriter | August 26, 2010
Canadian federally regulated property and casualty (P&C) insurers more than doubled their Q2 net income in 2010 compared to the same period of 2009.However, the same cannot be said for their foreign counterparts, according to the Office of the Superintendent of Financial Institutions (OSFI).Canadian P&C insurers reported profits of $1.419 billion to OSFI in 2010 […]
Should New Brunswick elect a Progressive Conservative government in the coming provincial election, the Insurance Bureau of Canada (IBC) will work with the newly elected government should it fulfill its election promise to review the province’s minor injury cap. IBC believes the cap $2,500 cap on minor injury benefits is working well for New Brunswickers. […]
A $25 billion loss would stop the global reinsurance market’s downward pricing trend, but an $82 billion loss would be required to turn the market, according to a panel of experts on an AM Best webinar.During the webinar, ‘State of the Global Reinsurance Market: Where the Hot Spots Are and Who’s in Them?’ a panel […]
By Canadian Underwriter | August 25, 2010
The 2011 Ford Fiesta sedan/hatchback has earned the Top Safety Pick award – the first minicar to earn the recognition since roof strength requirement for rollover protection was added to the criteria. The award from the Insurance Institute for Highway Safety applies to those built after July 2010. Ford recently made design changes to strengthen […]
SGI provided $50,000 in funding to the RCMP to outfit two vehicles with Automatic License Plate Recognition (ALPR) systems. The ALPR equipment checks for unregistered or expired plates, stolen vehicles, and whether the vehicle owner was suspended or is wanted for another matter. It automatically scans license plates as the officer drives, enabling police to […]
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