Claims
Insurers and private investigators are challenging the authority of the Office of the Privacy Commissioner (OPC) to intervene in claims investigations.The insurance industry yielded 17% of the complaints lodged in 2008 under the Personal Information Protection and Electronic Documents Act (PIPEDA).In May 2009, the OPC issued guidelines to the private sector related to the use […]
By Canadian Underwriter | November 11, 2009
2 min read
Industry
British Columbia off-road vehicle (ORV) riders will be required to wear a helmet, register their ORVs and display license plates when operating their vehicles on Crown land.The proposed new regulations would define ORVs as including dirt bikes, all-terrain vehicles and snowmobiles and will not apply to private land.Under the new framework, which has a two-year […]
1 min read
Critical risk management failures played a major part in a 2007 landing accident in Fox Harbour, Nova Scotia, where a Jetport private jet skidded off the runway and stopped close to neighbouring homes, injuring 10 passengers (two seriously), the Transportation Safety Board of Canada (TSB) has found. In a report on the incident, TSB faulted […]
Thanks in part to an unusual number of summer storms, Intact Financial Corporation (TSX: IFC) reported a net loss of Cdn$8 million in 2009 Q3, compared to a profit of Cdn$57.3 million in the same period last year.“While the pace of growth of our direct written premiums has been most encouraging, the high costs of […]
After weather kept them onshore for a few weeks, Somali pirates have resumed their attacks on vessels in the Gulf of Aden. Global piracy statistics reveal that in the first nine months of 2009, 114 vessels were boarded, 34 vessels hijacked and 88 vessels fired upon, according to Lloyd’s of London. A total of 661 […]
By Canadian Underwriter | November 10, 2009
Crawford & Company (NYSE: CRDA and CRDB) reported a net loss of US$39.5 million in 2009 Q3, compared to a net income of US$6.9 million in 2008 Q3.The net loss includes a non-cash impairment charge of US$46.9 million, primarily related to goodwill in the company’s Broadspire segment.This impairment charge does not affect the company’s liquidity […]
The Insurance Council of British Columbia, which licenses and regulates the province’s insurance agents, salespersons and adjusters, says it is concerned about the number of breaches in confidentiality it has encountered over the last 12 to 18 months.”Licensees handle and have access to a large amount of confidential information and their clients depend upon their […]
The 2010 Subaru Legacy is the first car tested by the Insurance Institute for Highway Safety to earn damage estimates under US$1,000 for all four of the institute’s bumper tests.“Bumpers that don’t bump,” resulting in costly damage in what should be minor crashes, are the norm for cars evaluated in IIHS’s low-speed tests, the institute […]
Hub International Limited has acquired Mones & Associates Insurance Brokers Inc. from Aviva Canada Inc. Mones also operates under the name of Arctic Insurance Brokers Ltd. in select markets. It has approximately $10 million in annual revenue in personal and commercial lines and operates in Western and Northern Canada.As a result of the acquisition, Hub […]
By Canadian Underwriter | November 9, 2009
Hurricane Ida is losing momentum as it heads towards the Gulf Coast, with hurricane warnings for U.S. gulf coast states being changed to tropical storm warnings. The National Hurricane Center issued an advisory on Nov. 6 indicating that Ida had reached hurricane intensity. By Nov. 7, winds were 165 km-h and Ida was upgraded to […]
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