Industry
Trillium Management Services Inc., founded by former Kingsway Financial Services Inc. president Bill Star, has reached a definitive agreement to acquire Geneva Insurance Company Inc. of Indianapolis, Indiana. Geneva provides personal automobile insurance with a concentration on non-standard auto insurance in Indiana. Its products provide insurance coverage for liability to others for bodily injury and […]
By Canadian Underwriter | November 18, 2009
1 min read
Lloyd’s Canada’s reinsurance market is compliant with the amendments to Part XIII of the Insurance Companies Act of Canada, including the business that it has written over the past 10 years.Deborah Moor, president of Lloyd’s Canada served as the keynote speaker at the Insurance Institute of Ontario’s ‘At the Forefront’ breakfast seminar in Toronto on […]
2 min read
Claims
Insurance Bureau of Canada (IBC) is cautioning that current conditions in British Columbia’s Fraser Valley are similar to those that led to floods of the Fraser Valley in 2003 and 2007.The provincial, federal and municipal governments have made significant investments in flood protection since 2007, but it’s not known whether the improved dykes, berms and […]
Residents in Queen Charlotte/ Haidi Gwaii and the North Coast of British Columbia awoke to a 6.5 magnitude earthquake on Nov. 17, 2009 morning. As of press time there were no reports of major damage. The quake occurred near the southern tip of the Queen Charlotte Islands region, 162 km south of Queen Charlotte City, […]
The Pennsylvania Department of Insurance (DOI) is taking legal action against Kingsway Financial Services, Inc. (TSX, NYE: KFS) to unwind the company’s donation of its shares of Lincoln General Insurance Company to charities.Kingsway announced in October 2009 that it had donated its indirect interest in Lincoln General to 20 different charities. Each charity received 5% […]
By Canadian Underwriter | November 17, 2009
A landlord can delegate snow removal tasks to tenants, but this must be done in a contractual agreement separate from the tenancy agreement, the Ontario Court of Appeal has ruled in a slip-and-fall case.”In order to be effective, a clause that provides that a tenant will provide snow removal services must constitute a contractual obligation […]
Quebec’s Joint Report — a report used by drivers to report collisions in which no one was hurt — has been in existence for 30 years, but only 28% of the province’s drivers have used it. A poll commissioned by Insurance Bureau of Canada shows that 67% of respondents are familiar or very familiar with […]
Aviva Canada sees an average increase of more than 38% in claims during the winter months compared to the rest of the year. A result of weather-related incidents, slippery roadways and white-out conditions accounted for more than Cdn$38.5 million in auto-collision claim payments for Aviva Canada between December 2007 and February 2008. The first snowfall […]
Forty-two per cent of Canadian property and casualty companies that use credit-based insurance (CBI) scores — representing 17% of market share — do not disclose an adverse affect of the CBI scores to policy applicants or policyholders, according to a survey done for the Canadian Council of Insurance Regulators (CCIR).In addition, 68.4% of the 19 […]
By Canadian Underwriter | November 16, 2009
Two recent decisions in Ontario and British Columbia certifying class actions alleging price fixing indicate that the courts in Canada may be adopting a new approach to these types of claims, potentially opening the door to more litigation in this area, according to Michael Brown, a lawyer with Ogilvy Renault.In his paper, Possible Changes in […]
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