Claims
Kingsway Financial Services Inc. has appointed Gregory P. Hannon to the board of directors. Robert Cassels and Walter E. Farnam have resigned from the board of directors, according to a release. “We welcome the appointment of Greg Hannon to the board of Kingsway,” Spencer Schneider, audit committee of the board of directors, said in the […]
By Canadian Underwriter | September 17, 2009
1 min read
Industry
Sixteen months after it shelved Bill 40, an act to amend B.C.’s dated Insurance Act, the B.C. legislature is now pressing ahead with insurance reform in Bill 6, the Insurance Amendment Act, 2009, introduced on Sept. 15, 2009.“The proposed amendments will improve coverage for consumers, ensure better access to documents, and enhance dispute-resolution mechanisms,” B.C. […]
By Canadian Underwriter | September 16, 2009
2 min read
The Canadian commercial marketplace requires standard policy wording for Employer Practice Liability (EPL) policies that are distinct from U.S. policies.The Risk Management Counsel of Canada delivered a seminar, ‘Employer’s Dream: Insurer’s Nightmare! Employer’s Liability: The Need for a Canadian Model,’ at the RIMS Canada Conference in St. John’s, Newfoundland on Sept. 15.EPL policies differ from […]
Upcoming changes to Ontario’s Rules of Civil Procedure are designed to expedite cases before the courts, but insurers shouldn’t expect huge savings in claims costs as a result of the changes, one counsel cautions.On their face, the changes would appear to make insurers’ lives easier by reducing the time for some trial procedures, including the […]
Mitchell International Inc. has introduced new Web-based technology designed to improve communication between Canadian insurers and contractors, thereby streamlining the claims process.Mitchell provides workflow solutions to the collision repair and property and casualty claims industries. It has released a new Independent Appraiser (IA) Workflow Module within its core Canadian claims workflow solution Dashboard. The module […]
Internal research by PartnerRe suggests a reinsurer would have to increase its rates by 4.3% (for short-term, property, non-proportional business) and 8.9% (for long-tail, motor, non-proportional business) just to account for lower interest rates and no other factors.PartnerRe presented its findings at its ‘2009 Technical Seminar: Auto Casualty,’ held on Sept. 14 at the National […]
By Canadian Underwriter | September 15, 2009
The Ontario chapter of the Risk and Insurance Management Society (RIMS) named Janice McGraw, manager of risk management and insurance at McGill University in Montreal, as the 2009 recipient of the Donald M. Stuart Award.McGraw received the award at the RIMS Canada conference in St. John’s Newfoundland on Sept. 15.The annual award was created to […]
Loss ratios for credit risk insurance climbed from between 20% and 30% prior to the financial crisis that began in 2008 Q3 to more than 100% currently, driving a hard market in the line, said Daniel Galvao, senior vice president of financial products at Marsh Canada Ltd. (Toronto).Galvao spoke at the RIMS Canada Conference being […]
A modern business might fit into any one of three highly protected risk (HPR) management levels, according to David Thompson, vice president and Toronto operations manager of FM Global. “A highly protected risk is a location at which all reasonable physical and human element loss prevention measures have been implemented to protect buildings, equipment and […]
Despite international market turmoil, uncertainty around minor auto injury caps and increasing claims costs related to Ontario’s accident benefits, Facility Association (FA) volumes appear to remain low and stable in most jurisdictions, broker representatives to FA have reported. “Residual markets in Ontario continue to be surprisingly stable, with the Facility Association Residual Market (FARM) private […]
By Canadian Underwriter | September 14, 2009
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