Industry
The Insurance Bureau of Canada (IBC) has approved plans to move forward with the re-introduction of the Health Claims for Auto Insurance (HCAI) electronic data-exchange system, although re-introduction will not happen before testing begins in the summer of 2009.HCAI is a Cdn$20-million electronic claims system intended to link participants involved in Ontario’s auto insurance system, […]
By Canadian Underwriter | November 25, 2008
2 min read
The Ontario Court of Appeal has upheld an insurer’s duty to defend in a commercial liability case in which a No Frills grocery store employee was injured while engaged in horseplay at work.Dan Mitsios and Kevin Walters both worked at a No Frills grocery store. Mitsios sprayed Walters with water while he was cleaning the […]
Marsh & MacLennan Cos. (NYSE: MMC) has filed a shelf registration statement with the U.S. Securities Exchange Commission (SEC) indicating it has set aside 22.6 million common shares worth US$500 million to be used in connection with acquisitions of other businesses.The stock would not be sold, but would rather be used as stock transactions in […]
By Canadian Underwriter | November 24, 2008
Only reinsurance arrangements that include an appropriate insolvency clause should be recognized by Canada’s solvency regulator as an allowable asset, Canada’s insurance guarantee fund has recommended in a report.The Property and Casualty Insurance Compensation Corporation (PACICC), which reimburses Canadian policyholders in the event of an insurer bankruptcy, made this and several other recommendations in its […]
Insurance Bureau of Canada (IBC) wants the government of Ontario to work with the federal government to delay changes to Part XIII of the Insurance Companies Act of Canada until the initiative is fully understood by provincial regulators.IBC made the suggestion as part of its pre-budget submission to Ontario’s minister of finance.The Office of the […]
1 min read
Manitoba’s Court of Appeal has denied an application for leave to appeal a decision that denied an insured the right to claim accident benefits under section 138 of the Manitoba Public Insurance Corporation Act, which carries no maximum limit for personal home assistance.Steven Fletcher was paralyzed from the neck down as result of a 1996 […]
The Supreme Court of Canada has overturned an Ontario Court of Appeal decision and ordered a group of property insurers to cover the costs related to a damaged tunnel boring machine under an all-risk policy.In Canadian National Railway Co. v Royal and SunAlliance Insurance Co. of Canada, a panel of four Supreme Court of Canada […]
By Canadian Underwriter | November 21, 2008
Ontario’s government needs to reform its auto insurance regulatory framework to contribute to long-term stability of the provincial economy by keeping the cost of insurance for consumers from growing, Insurance Bureau of Canada (IBC) says.In a pre-budget submission to Dwight Duncan, minister of finance, IBC has identified areas where it believes strategic government action can […]
Fairfax Financial Holdings Ltd (TSX and NYSE: FFH) has removed the hedge on its equity portfolio investments.As of Oct. 31, 2008, Fairfax continued to hold approximately 73% of its investment portfolio in treasury bills and government bonds as well as approximately $9.7 billion notional amount of credit default swaps. “The credit default swaps are extremely […]
Crawford & Company (Canada) has announced five appointments. Santo Carbone has been appointed vice president, partnerships and regional claims centre (RCC) operations, at Crawford & Company (Canada). Carbone brings more than 27 years of claims management and operations experience to Crawford’s Mississauga RCC. Serge Deschenes has been appointed manager of Crawford’s Quebec City branch. Deschenes, […]
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.
