Industry
Now that the Alberta Court of Queen's Bench has weighed in on the constitutionality of the province's cap on minor auto injuries, Canada's insurance industry anxiously looks to courts in the Maritimes to inoculate governments against widespread Constitutional challenges to legislated injury caps
By Vanessa Mariga | April 30, 2008
10 min read
At face value, Canada's 2007 industry results seem very healthy and calm, but what lurks beneath the surface are nasty undercurrents of deteriorating auto results and commercial rate-slashing
By Joel Baker, President And CEO, MSA Research Inc. | April 30, 2008
5 min read
The guiding principles for Ontario auto reform should include affordability, predictability, competition and fairness -- and should apply the principle of indemnity rather than entitlement
By George Cooke, President And CEO, Dominion Of Canada General Insurance Company | April 30, 2008
2 min read
A number of new gadgets to improve vehicle safety are in the works, causing collision repair centres and insurers to wonder how much it will cost to repair the new technology
By Lianne Perissinotti, Director Of Marketing, Collision Solutions Network | April 30, 2008
The Supreme Court of Canada has rejected leave to appeal a decision that found insurers are entitled to conduct an examination under oath of an insured regardless of whether or not the relationship between the insurer and insured is adversarial or a lawsuit has commenced. In Baig v. The Guarantee Company of North America (GCNA), […]
April 30, 2008
Canada’s class action plaintiff bar is becoming more sophisticated as it adopts U. S.-style litigation practices, people attending an AIG Canada product symposium were told. Canadian plaintiff lawyers are increasingly seeking contingency fees in class action cases, Alan D’Silva, partner at Stikeman Elliott LLP, suggested. “We’re seeing the courts approving multiples of four or five […]
At current pricing levels, and given the current capitalization of the property and casualty reinsurance market, Aon Re Global estimates it would require a ground-up property catastrophe occurrence loss in the range of between US$30-50 billion to change the current softening of property catastrophe reinsurance rates, terms and conditions. Aon Re Global’s market expectations for […]
1 min read
Risk
Toronto’s famed Roy Thomson Hall, usually host to symphonies, provided the backdrop to the AIG Canada 2008 Symposium in April. Industry delegates gathered to discuss The Globalization of Liability: Managing Multinational Solutions. Paul Brophy, senior vice president of AIG Executive Liability’s national accounts division, moderated the first panel session, exploring globalization and litigation trends around […]
6 min read
Insurers will be on the hook for all health care costs related to bodily injury claims if Bill 22 is passed in British Columbia, warns Jonathan Hodes of Clark Wilson LLP. Since the 1950s, the insurance industry in British Columbia had an unofficial agreement with the Ministry of Health that insurers would repay the government […]
Canadian companies are generally nearer the starting gate than the finish line when it comes to preparing for the country’s transition to International Financial Reporting Standards (IFRS), a survey by the Chartered Accountants of Canada (CA) has found. Just over half of the 550 senior executives in Canadian companies surveyed indicated their company would need […]
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