Industry
Co-Operators General Insurance Company reported a 2010 Q2 net income of $6.5 million, marking a drop from the $13.9 million net income reported in 2009 Q2.A market yield adjustment on its bond and mortgage portfolios resulted in an $11.5 million increase in claims expenses when compared to 2009 Q2, a company release said. Return on […]
By Canadian Underwriter | July 30, 2010
1 min read
Claims
Ontario’s insurance regulator has told industry defence counsel that 55% to 65% of all non-catastrophic, minor injury claims would need to fall within the province’s new Minor Injury Guideline (MIG) in order for auto insurers to turn a profit.Due to be implemented on Sept. 1, 2010, Ontario’s auto reforms have introduced a hard cap of […]
By Canadian Underwriter | July 29, 2010
2 min read
Ontario’s amended Rules of Civil Procedure have given trial judges the power to order experts for both sides to prepare a joint report, which may lead to more claims settlements and fewer trials. Bill Chalmers of Hughes Amys made the observation at an Ontario Insurance Adjusters Association (OIAA) seminar in Toronto on July 29. Chalmers […]
Global warming is undoubtedly occurring, with the last decade being the warmest in history, according to the U.S. National Oceanic and Atmospheric Administration.In its report, State of the Climate, more than 300 scientists from around the world, including Canada, examined 10 climate change indicators in 48 countries. By comparing the data decade-by-decade, scientists were able […]
Willis Group Holdings plc (NYSE: WSH) reported a net income of $89 million in 2010 Q2, a slight increase from the net income of $87 million in 2009 Q2.Organic growth in commissions and fees grew 4% from 2009 Q2. Net new business experienced a 6% growth over 2009 Q2, reflecting “strong new business generation of […]
Although the Deepwater Horizon oil spill is an “important event in the history of deepwater drilling and exploration,” it’s not going to be an insurance “market changer,” experts at Marsh suggest.In a report, Marsh compares the event to that of Hurricane Katrina and assesses the negative effects of each on the upstream energy insurance market.Following […]
By Canadian Underwriter | July 28, 2010
A government-authorized vehicle safety inspection will increase by $10, Manitoba Public Insurance announced.The cost of a vehicle safety inspection will be $55 as of Aug. 1, 2010. The increase applies to safety inspections for cars, motorcycles and light trucks.”This is the first increase in nine years,” said Ward Keith, MPI’s registrar of motor vehicles. “Over […]
B.C. customers needing language assistance during the claims-handling process will now be able to converse freely with ICBC in more than 170 languages through an interpreter. The Language Line Services initiative is an on-demand, over-the-telephone translation service piloted this year in nine Lower Mainland claim centres. Its interpreters are trained in the use of insurance […]
U.S. class action activity related to the credit crisis has slowed down to a slow trickle, according to a semi-annual report prepared by the Stanford Law School Securities Class Action Clearinghouse, in cooperation with Cornerstone Research.The report, Securities Class Action Filings-2010 Mid-Year Assessment, notes federal securities class action activity during the first six months of […]
Only one month into its operations in Canada, DAS Canada has already become a full partner of the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program.The program’s centerpiece is the magenta broker logo known as the ‘Bipper.’ The symbol is intended to represent the value insurance brokers bring to their clients, including choice, coverage, […]
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.
