Claims
The Ontario Court of Appeal has refined the concept of “damages too remote for recovery,” recently distinguishing the fact situation in Frazer v. Haukioja from that of the Supreme Court of Canada case, Mustapha v. Culligan of Canada Ltd. In Frazer, the Ontario Court of Appeal noted Grant Frazer was injured in a motorcycle accident […]
By Canadian Underwriter | April 27, 2010
3 min read
Industry
A.M. Best Co. is planning to withdraw its Canadian public data (PD) rating assignments at the end of August 2010.The rating agency currently has 52 PD rating assignments. A.M. Best said its move reflected increasing challenges facing the Canadian property and casualty environment. These include upcoming changes in accounting standards and active regulatory environment (especially […]
1 min read
XL Insurance and global management consultant Accenture are implementing a new centralized global claims management system to support XL Insurance’s operations in 25 countries, including Canada. The system is designed to enhance XL Insurance’s customer service and reduce costs by consolidating and upgrading its core claims-processing technologies and procedures globally. It is based on the […]
AIR Worldwide (AIR) is offering enhanced capabilities to help insurers, reinsurers, brokers and risk managers better assess the catastrophe risk to industrial facilities. A new component-based approach is designed to estimate property and business interruption losses to a wide variety of industrial facilities due to hurricanes, earthquakes and other natural catastrophes. “AIR conducts detailed, site-specific, […]
By Canadian Underwriter | April 26, 2010
2 min read
Lance Kayfish, risk manager at the City of Kelowna, British Columbia, received the Richard W. Bland Memorial Award at the Risk and Insurance Management Society (RIMS)’s 2010 Annual Conference & Exhibition in Boston.The award was created by RIMS Kansas City Chapter in 1974 to recognize a member’s dedicated commitment in the area of legislation or […]
The cost of aerospace industry insurance in 2010 is expected to decline for the fourth year in a row, according to Aon’s Aerospace Insurance Markets Outlook 2010 report. After the marketplace turbulence in 2009, this represents an oasis of relative calm for airports, aerospace manufacturers and support companies, according to an Aon release. Overall, aerospace […]
Cunningham Lindsey is merging its Markham and Toronto North offices effective May 1, 2010. Toby Collins will be the branch manager of the newly merged office, which will be in the current Toronto North location. Toronto North adjusters Pamela Allen, Ross Arthur, Rick Bahen, Dale Reid, Gail Ross, Fred Scott and Nick Tucci will welcome […]
Finance Minister Jim Flaherty expects to be sitting down with Canadian bank executives sometime over the next 10 days and discussing the government’s directive to remove insurance sales from their Web sites, according to media reports.Flaherty made the remarks to reporters in Washington, D.C. at a meeting of the Group of 20 finance ministers on […]
SGI Canada has reported a net income of $52.4 million – the most profitable year in the corporation’s history – in part due to a low number of storm losses. Continued growth in the provincial economy provided premium growth of 8% in Saskatchewan in 2009, the corporation reported. Out-of-province operations provided $2.8 million to the […]
In a 3-2 decision, the Ontario Court of Appeal has reversed a lower court ruling that would have allowed taping of defence medical examinations in most (if not all) cases where a request is made, based on an alleged “systemic bias” among health practitioners who undertake medical examinations for the defence. In doing so, the […]
By Canadian Underwriter | April 23, 2010
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