Claims
An insurer’s suspicion about the potential for litigation is not enough of a reason to grant plaintiffs access to insurer documents subject to solicitor-client privilege, the Ontario Superior Court has ruled.In Kavanagh v. Peel Mutual Insurance Company, the court upheld the law of privilege in Ontario as set out in General Accident Company et al […]
By Canadian Underwriter | October 27, 2009
2 min read
Industry
Willis Group Holdings Limited has reported a 2009 Q3 profit from continuing operations of US$78 million, compared to US$36 million during the same period a year ago. The company reported a US$357-million profit from continuing operations for the first nine months of 2009, compared with a US$241-million profit during the same period a year ago. […]
1 min read
The Ontario Superior Court has upheld the insurer’s denial of a claim for allegedly stolen possessions that were moved into storage after a plaintiff abandoned his home.In Harris v. Home Trust Company, Steven Harris entered into a policy with Meloche Monnex, which insured the household goods within Harris’ home. In July or August of 2004, […]
Although more (re)insurers are disclosing their own risk management methods, levels of risk tolerance and ERM structural information, the general quality of disclosure remains unchanged, according to a Guy Carpenter report.Guy Carpenter’s Risk Profile, Appetite and Tolerance: Fundamental Concepts in Risk Management and Reinsurance Effectiveness is a product of publicly available information — including annual […]
Insurance brokers need to adopt a much stronger Web presence, IBAO incoming president Bryan Yetman said in a speech to the IBAO’s 89th annual convention held in Toronto.As the Internet increasingly becomes the dominant mode of communication for consumers, brokers need to adapt their business strategies to take advantage of this trend, said Yetman. And […]
By Canadian Underwriter | October 26, 2009
CLARIFICATION: The following piece is intended to clarify remarks attributed to IBANS president Ken Myers, as reported by Canadian Underwriter in an online item entitled, “Only a matter of time before Nova Scotia cap is scrapped, premier suggests to brokers.” Nova Scotia brokers are more optimistic about negotiating the future of the province’s auto insurance […]
All insurers should make the effort to answer the same eight questions about climate change initiatives that the U.S. regulator requires insurance companies in its jurisdiction to answer annually, said Paul Kovacs, founder and executive director of the Institute for Catastrophic Loss Reduction. Kovacs spoke at the Autorité des Marchés Financiers’ Rendez-Vous in Montreal on […]
About 1,600 collisions with wildlife are reported to Manitoba Public Insurance each November. This makes November the worst month for wildlife-related collisions, followed closely by October, which sees an average of 1,300 collisions with wildlife reported. More than 10,000 wildlife claims are reported annually. MPI paid out Cdn$28.9 million for claims related to wildlife collisions […]
ING is moving towards a complete separation of banking and insurance operations by 2013. In order to get approval for its restructuring plan, ING needs to divest ING Direct USA by the end of 2013. ING plans to launch a EUR7.5-billion rights issue to finance the repayment of the Core Tier 1 securities for EUR5 […]
Would adherence to a single tool for estimating reconstruction costs help to resolve the insurance-to-value (ITV) issue?Insurance company CEOs debated the point at the 89th annual convention of the Insurance Brokers Association of Ontario (IBAO), held in Toronto on Oct. 22, 2009.George Cooke, president and CEO of The Dominion, got discussion started when he said: […]
By Canadian Underwriter | October 23, 2009
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.
