Claims
Manitoba’s Public Utilities Board (PUB) has gone to the province’s appeal court to get Manitoba Public Insurance (MPI) to disclose financial information that would ensure Autopac rates are set fairly.The fact the PUB went to court became a topic of debate in the Manitoba legislature on Apr. 27. “The Public Utilities Board has been concerned […]
By Canadian Underwriter | April 29, 2010
2 min read
Industry
Nova Scotia has kept its minor injury cap on pain and suffering awards for automobile accident injuries, but tripled its maximum limit to $7,500.The government announced amendments to the Insurance Act and draft regulations on Apr. 28. The amendments and regulatory changes will:• amend the definition of minor injury to mean strains, sprains and whiplash-associated […]
Insurance Bureau of Canada (IBC) and the Insurance Brokers Association of Nova Scotia (IBANS) say they are committed to working closely with Nova Scotia to monitor the effect of the changes to the auto cap regulations in the province. Changes to auto insurance announced by the Nova Scotia government – including a tripling of the […]
As of Sept. 1, 2010, as a general rule, the New Statutory Accident Benefits Schedule (SABS) enshrined in Ontario’s new auto insurance reforms “will govern claims processing relating to old accidents,” as well as “the determination of amounts payable by insurers on account of expenses paid to establish benefit entitlements arising out of old accidents,” […]
By Canadian Underwriter | April 28, 2010
Munich Re said it “achieved a clear profit” in 2010 Q1, despite heavy burdens from natural catastrophes. The reinsurer estimated a loss of €700 million (Cdn$932.7 million) in the first quarter due to natural catastrophes. The Chilean earthquake made up about €500 million (Cdn$666.4 million) of that total.“The year 2010 to date has been marked […]
1 min read
Hannover Re said it expects to pay EUR 40 million (Cdn$53.3 million) in damages resulting from the sinking of the drilling rig Deepwater Horizon in the Gulf of Mexico.An explosion on the rig, which sank on Apr. 22, resulted in a huge oil spill flowing more than 1,500 metres below where the Deepwater Horizon was […]
British Columbia has announced it intends to introduce the country’s most severe penalties for impaired driving. The government said it expects changes to the Motor Vehicle Act (MVA) to be implemented in Fall 2010.Under the proposed new legislation, drivers who provide a failing breath sample above 0.08% BAC, or drivers who refuse to provide a […]
Canadian Claims Services Inc. (CCS) has acquired Triad Claims Service, effective May 1, 2010. Canadian Claims Services Inc. (CCS) is a full-service, multi-line adjusting company with a head office in Edmonton Alberta.Triad Claims Service is a private insurance claims adjuster with three office locations in Alberta.“CCS is very excited about the addition of Triad, as […]
Cunningham Lindsey has deployed 10 of its Canadian adjusters to assist with catastrophe response efforts in Australia.Severe storm activity in March resulted in massive flooding in and around Perth.More than 120,500 property and motor vehicle claims were reported as of Apr. 14, with an estimated insurable cost of $889 million, according to the Insurance Council […]
The Insurance Bureau of Canada (IBC) is taking a different approach to government relations (GR), IBC president and CEO Don Forgeron said in prepared remarks for a speech to IBC’s annual general meeting in Toronto. “I’ve said it many times: Our greatest value to our members’ bottom line is through effective GR,” Forgeron said on […]
By Canadian Underwriter | April 27, 2010
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