Industry
The Ontario Superior Court of Justice ruled that water damage done to a policyholder’s roof which was under construction is insurable because it was wind that blew protective tarps off, exposing the roof to a rainstorm.In Vennard v. Aviva, James Vennard was re-shingling the roof of his home. Though the weather forecast for the day […]
By Canadian Underwriter | March 7, 2008
1 min read
Claims
Initial estimates are placing insured damage caused by Windstorm Emma which tore through parts of central Europe on Mar. 1 at between EUR300 million (Cdn$455.24 million) and EUR1.3 billion (Cdn$1.973 billion). Windstorm Emma brought with it heavy rain and hurricane-force winds, which caused significant damage to residential buildings, AIR Worldwide Corporation reports. Wind gusts were […]
2 min read
The aerospace insurance market softened in 2007, responding to the high level of capacity and low level of losses in the aviation industry over the past five years, according to Aon’s Aerospace Insurance Market Review of 2007. “The average 6% reduction in lead premium was not as significant as the fall witnessed in the airline […]
By Canadian Underwriter | March 6, 2008
Zurich Financial Services Group has reached an agreement in principle to convey the rights to access renewals on its North American commercial small business solutions (SBS) book of business to Truck Insurance Exchange.Truck Insurance Exchange is one of the Farmers Exchanges. Management of the SBS book of business will transfer to Farmers Group Inc. The […]
Western Financial Group intends to submit a proposal to acquire the assets and liabilities of Community Savings & Credit Union (Community Savings) of Red Deer, Alberta. Community Savings is the second largest credit union in Alberta, with assets of Cdn$2.72 billion.Scott Tannas, the president and CEO of Western Financial Group, said his company “informed the […]
The U.S. Council of Insurance Agents and Brokers has asked the World Federation of Insurance Intermediaries (WFII) to review trade barriers and regulations that might impede the placement of global commercial risks.WFII is composed of 100 agent/broker associations representing insurance intermediaries in more than 80 countries around the world. The Insurance Brokers Association of Canada […]
The Insurance Bureau of Canada (IBC) has launched a new consumer education campaign to “create insurance-savvy consumers.”The Web-based campaign is designed around survey results demonstrating that Canadians “don’t know how much they don’t know” about insurance, in the words of IBC president and CEO Mark Yakabuski.The poll of 3,220 Canadians was conducted on behalf of […]
By Canadian Underwriter | March 5, 2008
A surprising number of Canadians lack a basic understanding of some of the most fundamental concepts of insurance, according to research conducted on behalf of the Insurance Bureau of Canada (IBC).In a study of 3,220 Canadians, undertaken by the research firm Pollara, only a small majority (58%) of respondents knew that when a person pays […]
Royal & SunAlliance (R&SA) has continued its investment as a full partner of the Broker Identity Program for 2008, the Insurance Brokers Association of Canada (IBAC) announced in a release. “For many years, R&SA has sponsored IBAC’s broker education campaign and we are proud to continue as a full partner of the Broker Identity Program,” […]
Aviva Canada Inc. has been awarded a three-year accreditation for its injury claims management programs from the Commission on Accreditation for Rehabilitation Facilities (CARF). Aviva is the first insurer in North America to receive this internationally recognized accreditation. CARF accreditation provides Aviva and its Premiere Healthcare Network with an independent endorsement of its customer care […]
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