Industry
The Loyalist Insurance Group Limited has dropped the ‘Insurance’ from its moniker.Moving forward, the corporation will be known as The Loyalist Group.The change was approved at the company’s annual shareholder meeting and by the NEX trading forum.As of June 24, trading of the company’s shares will be under its new name. It will retain the […]
By Canadian Underwriter | June 24, 2010
1 min read
Terrorism insurance uptake in the United States increased last year, from 57% in 2008 to 61%, despite a challenged economy, reports Marsh.Marsh surveyed 1,382 of its clients, and found the number of firms purchasing this type of insurance has steadily climbed over the years, from 27% in 2003.Utility, real estate, health care, transportation, financial institutions […]
Claims
The Ontario Court of Appeal has breathed new life into an auto injury claim that was defeated in a summary judgment because it was filed 14 months after the limitations period had expired.The Appeal Court reinstated the action on the basis that the motion judge that dismissed the matter failed to consider the $15,000 statutory […]
2 min read
The federal Minister of the Environment announced proposed regulations to phase out traditional coal-fired electrical plants and place stringent performance standards on new coal-fired electricity generation units. Thirty-three of Canada’s 51 coal-burning electricity plans will come to the end of their economic life by 2025. Thirteen per cent of Canada’s total greenhouse gas emissions come […]
By Canadian Underwriter | June 23, 2010
The Federal Emergency Management Agency (FEMA) confirmed that National Flood Insurance Program policies will cover property damage caused by oil in floodwaters, reports the US’s Insurance Information Institute (III).”FEMA’s clarification comes after rising concerns over whether flood insurance policies would cover damage to homes and businesses if oil from the Deepwater Horizon spill mixes with […]
A Winnipeg man was sentenced to 15 months’ probation, perform 120 community service hours within one year, pay full restitution and write a letter of apology to Manitoba Public Insurance (MPI)’s CEO for attempting to commit a $240 insurance fraud.Brent Disbrowe-Bear pleaded guilty to falsely reporting that his vehicle was struck by another motor vehicle […]
The Financial Services Commission of Ontario has approved marginal increases for the maximum hourly rates payable by auto insurers for the services of health care providers listed in the Professional Services Guideline.The updated guidelines come into effect on July 1, 2010.None of the increases were more than one dollar. The updated guideline recognizes the change […]
A magnitude-5.0 earthquake struck the Ontario-Quebec border area – 60 kilometers north of Ottawa – at 1:42 p.m. on June 23, according to the United States Geological Survey (USGS). Natural Resources Canada confirmed the earthquake on its Web site: “June 23, 1:45 pm Eastern Time – A moderate earthquake has occurred in the Ottawa-Montreal region.” […]
Pharmaceutical companies are facing an evolving risk of liability for pharmaceuticals and personal care products (PPCP) found in ground and drinking water supplies, according to Marsh. PPCPs include antibiotics, anti-convulsants, mood stabilizers, stimulants and antihistamines.”Liability will likely rest primarily with large sources that dispose of the PPCPs inappropriately (e.g. manufacturing and large end users) and […]
By Canadian Underwriter | June 22, 2010
States of emergency were declared following heavy rains that led to floods in Southern Alberta and Saskatchewan, forcing the evacuation of hundreds of homes and causing a sinkhole on the Trans-Canada Highway.As much as 150 millimetres of rain fell in several regions of the Prairies over the weekend of June 19, extending into the early […]
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