Claims
An Ontario woman who unilaterally sought Cdn$18,073 worth of medical assessments is not entitled to recoup the money from her insurer, since she did not obtain her insurer’s approval in advance of the assessments, the Financial Services Commission of Ontario (FSCO) has ruled in an arbitration.Kathryn Scott was injured in a motor vehicle accident in […]
By Canadian Underwriter | November 25, 2009
2 min read
Industry
Ironshore Inc. will expand its London platform to serve specialty insurance lines markets in Canada.Michael C. Wills has been appointed CEO of Ironshore Canada Limited.The company will underwrite specialty insurance coverages across the entire range of Ironshore business lines, including property, casualty, liability, marine, energy and environmental risk. Wills assumes responsibility for the Ironshore expansion, […]
1 min read
The most anxious winter drivers are in Manitoba and Saskatchewan, according to the TD Insurance Winter Driving Poll.Across Canada, 52% say they are anxious about winter driving while in Manitoba and Saskatchewan, anxiety plagues 63% of drivers during the winter. Despite any nervousness, 81% of residents in Manitoba and Saskatchewan consider themselves to be good […]
A.M. Best Co. has upgraded the financial strength ratings (FSR) to A- (Excellent) from B++ (Good) of SGI Canada Insurance Services Limited (SCISL), its subsidiary Coachman Insurance Company in Ontario and SCISL’s operating parent SGI Canada. The outlook on all ratings remains stable.Moreover, A.M. Best has affirmed the FSR of B++ (Good) of The Insurance […]
A.M. Best Co. has downgraded the issuer credit rating and senior debt rating to “ccc” from “b-“ of Kingsway Financial Services Inc. (KFS) and Kingsway America Inc. (KAI).In addition, A.M. Best has downgraded the financial strength rating (FSR) to B- (Fair) from B (Fair) and the ICRs to “bb-“ from “bb” of several KFSI wholly […]
By Canadian Underwriter | November 24, 2009
RMS officially unveiled its new insurance-to-value (ITV) indexing technology at the MarS Innovation Centre in Toronto on Nov. 23.Dubbed ‘iClarify,’ the RMS indexing tool has been developed to help resolve the ITV issue. Currently, Canadian insurance companies and brokers do not have the data elements necessary to generate updated valuations on their in-force policies.Statistics suggest […]
At least a 1% business improvement is possible simply by applying Business Intelligence (BI), according to Mike Gilliland of AutoHouse Technologies. “Business Intelligence helps decision makers make more informed decisions and supplies users with critical business information on their customers or partners, including information on behaviours and trends”, according to a Canadian Collision Industry Forum […]
Muscowpetung First Nation won SGI’s 2009 Seatbelt Challenge and will receive up to $50,000 for traffic safety improvements in its community.The 2009 Aboriginal Seatbelt Challenge in the File Hills Qu’Appelle Tribal Council pitted eight First Nations communities against one another in a friendly competition to see which community could most improve its seatbelt use.In 2008 […]
Kingsway Financial Services Inc. (KFS) is disposing of its majority interest in Jevco Insurance Company.“Kingsway believes that the transaction will benefit Kingsway’s and Jevco’s stakeholders by strengthening Jevco’s market presence and allowing it to continue its 20-year history of profitability,” said a Kingsway release.“One of the objectives of the transaction is for Jevco’s financial strength […]
By Canadian Underwriter | November 23, 2009
Insurance-linked securities (ILS) are already bouncing back from a tough sell, Michel Liès, the head of the client markets business function at Swiss Re says.After the subprime debacle in the United States, in which bad mortgage debt was bundled and sold as securities to investors, “securities” generally were often perceived to be a problem rather […]
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