Industry
Nearly 300 immobilizer-equipped vehicles in Manitoba were stolen last year because the keys were either left in the ignition or elsewhere in the passenger compartment, Manitoba Public Insurance reported.The immobilized vehicles were stolen after owners had left their keys in the ignition, left a running vehicle unattended or stored keys within the glove box, console […]
By Canadian Underwriter | March 10, 2010
1 min read
Claims
An insurer that has satisfied its legal requirement for policy cancellation has not automatically proven that the insured knew his policy had been cancelled, an Ontario arbitrator has ruled.In Ersin Aksoy and Markel Insurance Company of Canada, the Financial Services Commission of Ontario (FSCO) found Markel had to pay Ersin Aksoy income replacement benefits and […]
2 min read
The sluggish economy, combined with the downward trend of the housing market in 2008, might have played a role in keeping construction costs to nominal increases in 2009, according Xactware, a property claims software company. The global recession played a significant role in driving overall costs associated with the property industry, according to Xactware’s 2009 […]
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) has reported net earnings of $856.8 million in 2009, marking a decrease from the $1.4 billion reported in 2008.Its combined ratio for last year was 99.8%, marking an improvement from 2008’s consolidated combined ratio of 110.1%.Net investment gains decreased to $945 million for the year, down from […]
By Canadian Underwriter | March 9, 2010
PartnerRe expects the total insured industry losses from the Feb. 27, 2010 earthquake in Chile to be between $6 billion and $10 billion. The company expects its claims relating to the earthquake to be between $220 million and $320 million.The initial loss estimate is net of reinstatement premium and retrocession. It is based on a […]
Intact Insurance is congratulating the winners of the 37th annual Canadian Sport Awards, which honour athletic excellence and leadership.The company was a premier sponsor of Speed Skating Canada, and is sending additional congratulations to members of the national team. Christine Nesbitt, who won gold in Vancouver, has been named the female athlete of the year. […]
Thirty-nine Canadian P&C insurers canvassed in The 2009 SCOR Report reported a collective underwriting profit of $213 million in 2009, up from a collective underwriting loss of $196.3 million in 2008.Although the 2009 underwriting result represented a significant improvement over last year, it was still far below the $1.07-billion underwriting profit the same companies registered […]
Advocis, The Financial Advisors Association of Canada, is calling on the Canadian Council of Insurance Regulators (CCIR) to find some way to better harmonize the nation-wide implementation of its regulatory solutions.“There has been much progress on developing, through national organizations, a harmonized approach to regulation and much time and resources are devoted to it,” Advocis […]
By Canadian Underwriter | March 8, 2010
The Insurance Brokers Association of Ontario (IBAO) intends to host more than 50 road show events to educate brokers about the amended automobile insurance regulations. “We are very pleased with the amendments,” stated IBAO CEO Randy Carroll. “Ontario brokers are committed to informing and protecting their consumers. “IBAO is also dedicated to the broker community […]
The Canadian Association of Direct Response Insurers (CADRI) has appealed to New Brunswick’s premier and minister of justice and consumer affairs to oppose the province’s proposed ban on the use of credit by home and auto insurers.The provincial government tabled Bill 43 in February. It proposes to ban of the use of credit scoring in […]
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.
