Industry
An insured arranging to have his vehicle stolen in lieu of keeping up payments on the vehicle is the Number 1 fraud for 2007, according to Manitoba Public Insurance’s (MPI) list of Top 5 frauds for 2007. Number 2 on the list was a man who claimed he had accidentally driven his truck into the […]
By Canadian Underwriter | January 2, 2008
2 min read
State Farm Insurance is issuing refunds to roughly 23,000 automobile policyholders in Ontario. The average refund is about Cdn$120.The refund is due to an error in the application of the Graduated License Discount (GLD) and Driver Inexperience Factor surcharge (DIF), the company announced in a release. Customers entitled to a refund will receive written notification […]
Reinsurance rates continued to soften during 2008 renewals, according to separate reports issued by two leading global reinsurance and insurance brokers.Reinsurance broker Guy Carpenter, in a report entitled ‘Near Misses, Plentiful Reminders: Global Reinsurance Review, January 2008,’ notes “property catastrophe reinsurance rates were down an average of 9% across all markets at Jan. 1, 2008 […]
1 min read
Kingsway Financial Services has entered into a 365-day, Cdn$70-million credit facility agreement with a syndicate of banks. The Bank of Nova Scotia acted as administrative agent, lead arranger and bookrunner, while the Royal Bank of Canada acted as documentation agent.In a press release announcing the agreement, Kingsway said the Cdn$70-million credit facility is supplemental to […]
Corporate exposure to liability for environmental damages related to greenhouse gasses is expected to increase, according to a report by Willis’ North American Environmental Practice. As a result, D&O exposure is expected to increase as well, as governmental agencies and environmental advocacy groups get closer to proving a link between climate change and the emission […]
By Canadian Underwriter | January 1, 2008
Average hull and liability lead premium for airline insurance has fallen by over 15% during the first nine months of 2007, according to Aon’s Airline Insurance Market Review: Pre-Renewal Season 2007 report.These reductions began in the final quarter of 2006. Of the 112 programs for which Aon had access to renewal data, 68% saw their […]
Risk
How the expansion of national adjusting firms, acquisitions, private equity capital, 'big box' shopping and flat-fee adjusting have all combined to form a growing ball that is Canada's increasingly concentrated claims adjusting industry.
By Vanessa Mariga | December 31, 2007
14 min read
OIAA president Alan Gallagher says the association is employing job fairs as one way to recruit caring people with a well-rounded education into the profession
By David Gambrill | December 31, 2007
6 min read
Ontario's Limitations Act, revised to streamline the time limits for making claims against insurers, has in fact shown signs of becoming "labyrinthine," legal experts warn
By Donna Ford | December 31, 2007
9 min read
Independent brokers increase their value proposition when they support the value proposition of independent claims adjusters
By Fred Plant | December 31, 2007
7 min read
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