Claims
The Ontario Superior Court of Justice has dismissed a claim for damages resulting from a vehicular fire, determining instead that arson caused the fire.In Salihi v TD General Insurance Company, Najib Ullah Salihi attempted to sue his auto insurer for $40,000 for breach of contract. A fire occurred in the interior of Salihi’s Toyota Camry […]
By Canadian Underwriter | May 14, 2010
2 min read
Industry
The Women in Insurance Cancer Crusade (WICC) Relay For Life committee has increased its 2010 fundraising goal to $444,000 — double the amount raised in 2009. Relay For Life is an outdoor community event run by the Canadian Cancer Society in communities across the country. It is a 12-hour overnight event, and has proven […]
Canada’s Minister of Finance has issued Letters Patent to DAS Legal Protection Insurance Company Limited (DAS Canada), making it the first insurer in the country to specialize in offering legal expense insurance. The company will provide customers with policies that cover costs arising from unexpected legal events. “We are in the process of finalizing provincial […]
1 min read
Kingsway Financial Services Inc. has reported a $24.1-million profit for 2010 Q1, despite sustaining a $29.5-million underwriting loss in the same quarter.Also, Kingsway has reported a new obstacle related to its run-off of Lincoln General, namely a dispute with the appointed run-off manager, Rockwell Financial Advisors LLC. Financially, Kingsway returned to the black after posting […]
For the Canadian property and casualty insurance industry, the ‘new normal’ is for a hardening market cycle, characterized by higher insurance premiums, to be required during an economic downturn, when policyholders need their money the most.And yet if insurance companies don’t raise their rates now, they are only “digging themselves deeper into a hole,” says […]
By Canadian Underwriter | May 13, 2010
Outdated legacy systems, managing pricing cycles and changing policyholders’ expectations are three of the top risks facing the Canadian property and casualty industry over the next three to five years, according to Susan Meltzer, assistant vice president of risk management at Aviva Canada.Meltzer was responding to a question from the audience after delivering a presentation, […]
Cary Comer v. Pilot Insurance Company demonstrates the challenges insurers face when trying a suspected fraud claim, Richard Bickford told delegates at the ISB-U Education Series. Combat Auto Fraud, an ISB education training and resources session, was held May 12 at the Glencairn Golf Club in Halton Hills. In Comer, the insurance company faced a […]
Ontario Provincial Police jurisdictions currently have a recovery rate of about 50% for stolen vehicles, compared to a 90% recovery rate in 1990. The figures were presented by Stephen Boyd, detective sergeant and program manager for the provincial auto theft team at the organized crime enforcement bureau of the OPP. Combat Auto Fraud, an ISB […]
A Level 3 general insurance agent nominee must do more than simply report regulatory concerns to her employers (the principals of the brokerage), especially when the concerns include the conduct of the principals, the Insurance Council of B.C. has ruled.Raghbir Kaur Atwal was ordered to pay a fine of $5,000 for her role in failing […]
By Canadian Underwriter | May 12, 2010
Ontario’s demand for domestic content may present new risks associated with insuring alternative energy sources such as wind power.Panelists at the CleanTech in Canada Breakfast Seminar in Toronto speculated the province’s demand for domestic content might mean developers of clean technologies will face a potential supply chain risk.That is, developers of wind power technologies will […]
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