Industry
Out of all of the accident benefits decisions to come out of 2008, perhaps the most significant decision was an Ontario Court of Appeal case that awarded declaratory benefits despite the Statutory Accident Benefits Schedule (SABS).Kadey B.J. Schultz, a lawyer at Dutton Brock LLP, spoke to delegates of the Ontario Insurance Adjusters’ Association annual conference […]
By Canadian Underwriter | February 4, 2009
3 min read
Claims
Adjusters are not immune to strong emotional reactions following a traumatic event that can interfere with their life, delegates of the 42nd annual Canadian Insurance Claims Managers’ Association/Canadian Independent Adjusters’ Association Joint Conference (CICMA/CIAA) in Toronto.Post Traumatic Stress Disorder (PTSD) can set in acutely or have delayed onset, according to Robert Senn, a retired firefighter […]
By Canadian Underwriter | February 3, 2009
2 min read
For claims adjusters, good communication and providing timely information are keys to preventing minor property damage losses from turning into major catastrophes.The subject “Little, Loss? Total Loss?” was the theme of the 42nd annual CICMA/CIAA joint conference held in Toronto, Ontario on Feb. 3.James Giffen of Crawford Canada said it is important for adjusters arrive […]
A minority shareholder of Kingsway Financial Services Inc. has requisitioned a special election to remove two more ‘legacy’ board members and put an end to “certain payments to board members.”The Stilwell Group, a New York City-based money management firm, holds 9% of Kingsway’s outstanding shares of common stock. It is also pushing for the sale […]
PartnerRe Ltd. (NYSE: PRE) reported a net income of US$95.3 million for 2008 Q4, compared to US$180.6 million for the same period of 2007.Non-life combined ratio for 2008 Q4 was 102.2%, marking a dramatic increase from 2007 Q4’s 79.0%.Net premiums earned quarter-over-quarter decreased slightly to US$984.3 million in 2008 Q4 from US$989.8 million in 2007 […]
1 min read
Despite the financial crisis, there is no indication of dramatic reductions in IT spending, changes in priorities, disruptions of project pipelines or dramatic shifts in platforms, a 2009 Celent survey of U.S. chief information officers has found.The survey canvassed executives in 33 of the U.S.’s property/casualty and life insurers during 2008 Q4 just as the […]
By Canadian Underwriter | February 2, 2009
A key lesson learned from the current financial crisis is that risk management must integrate risk and actuarial functions, Swiss Re Canada’s Online newsletter said.Traditionally the focus of risk management has been on identifying and reporting risks, but the crisis shows companies need to pay more attention to managing risks in a pre-emptive way, said […]
Manitoba Public Insurance (MPI) is proposing that no one pay increased premium during the first year of its new merit/demerit system, called the Driver Safety Rating (DSR), and that the maximum vehicle insurance discount remain at 25%.MPI filed rates for the new program with the Public Utility Board on Jan. 30, 2009. The Driver Safety […]
The phrase “companies under management control” is too vague to determine whether an unnamed insured — a roofing company hired by Atomic Energy Canada Ltd. (AECL) — is entitled to the AECL’s property policy coverage without the need for a trial first, an Ontario Court has determined.AECL hired Ron Robinson Roofing Inc. to do roofing […]
GLOBAL REINSURANCE PRICING STARTS TO FIRM UP Global reinsurance prices firmed up for Jan. 1, 2009 renewals and are expected to remain that way for April and July 2009 renewals, according to the January 2009 Reinsurance Market Outlook issued by Aon Benfield. Aon Benfield expects the reinsurance renewal market in April and July 2009 will […]
January 31, 2009
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