Industry
An insured should not be able to seek coverage for punitive damages under their automobile policy, as the damage is intended to punish a wrongdoer, not compensate an injured person, Stephen G. Ross, of Rogers Partners LLP, told delegates at the Ontario Insurance Adjusters Association (OIAA)’s 2008 conference in Toronto.He stressed that to cover an […]
By Canadian Underwriter | January 30, 2008
2 min read
New Ontario regulations dealing with the handling of asbestos could affect insurers’ costs should asbestos be the subject of a claim.Regulation 278/05, which came into effect on Nov. 1, 2005 (the final two sections kicked in on Nov. 1, 2007), governs all work that disturbs or is likely to disturb asbestos-containing material (ABM) in provincially-regulated […]
1 min read
Claims
Scientists at the Benfield UCL Hazard Research Centre (BUHRC) have for the first time quantified the extent to which sea surface warming contributes to increased Atlantic hurricane activity.In a study published in the scientific journal Nature, professor Mark Saunders and Dr Adam Lea have found the current sensitivity of tropical Atlantic hurricane activity to sea […]
There’s a new insurance litigation boutique in Toronto called Thomas, Gold & Pettingill LLP.And if its roster of lawyers includes names recognizable from the insurance litigation section of Cassels Brock & Blackwell, that’s because seven of the lawyers in the new boutique firm came from Cassels Brock.As reported in the National Post, Cassels Brock’s insurance […]
As technology plays a bigger role in the claims process, the independent adjuster will increasingly be called upon to communicate at all times with members of the public and the insurance industry, potentially necessitating the advent of the “night shift” adjuster. Traditionally, the adjuster’s base working hours have been more or less between 9 a.m. […]
By Canadian Underwriter | January 29, 2008
Losses in the directors and officers liability (D&O) portfolio due to the subprime crisis are expected to be in the neighbourhood of US$9 billion about triple what has been initially predicted, A.M. Best says in a report, citing equity analysts at Bear, Stearns & Co. Inc.As the effects of the credit crisis continue to ripple […]
Manitoba Public Insurance (MPI) is the target of an attempted fraud in which telephone solicitors offered to renew Autopac policies.People posing as telephone solicitors contacted several people in Southern Manitoba recently and offered to renew their Autopac policies, an MPI statement says.The caller claimed to be acting on behalf of MPI and instructed the customer […]
Insurers, in trying to scrimp on litigation claims costs, may inadvertently be allowing the insurance defence bar to wither away on the vine, a senior member of the bar told members of the insurance industry attending the 41st annual CICMA/CIAA joint Conference held in Toronto. Guest speaker Brian Elkin of Lavery deBilly LLP said he […]
Forty per cent of collision repair centres responding to a Canadian Collision Industry Forum (CCIF) survey noted they have suffered a loss of tradespeople within the last year, potentially affecting the cycle times of car repairs and, as a result, affecting insurers’ costs. On average, a collision repair shop has five technicians on staff, the […]
By Canadian Underwriter | January 28, 2008
As Canadian auto insurers face an increasing frequency of claims, auto manufacturers are poised to introduce new technology as early as 2010 that would make cars significantly more expensive to fix, though less likely to crash.Greg Horn of Mitchell International cited new technology among his “top five key trends” that promise to change the collision […]
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