Industry
The Financial Services Commission of Ontario (FSCO) is releasing a revised Pre-approved Framework (PAF) Guideline for Grade I and II Whiplash Associated Disorders and accompanying Pre-approved Framework Extension Request and Discharge Report form (OCF-24/198).The new PAF Guideline is effective on Oct. 1, 2007. Changes in the revised PAF Guideline include: focus on returning the insured […]
By Canadian Underwriter | July 12, 2007
1 min read
Claims
U.S. property and casualty insurers are expected to pay homeowners and businesses and estimated $2.175 billion [approximately Cdn$2.28 billion] for Q2 property losses resulting from a total of six catastrophes in 25 states, reports the ISO. The ISOs Property Claims Services (PCS) unit estimates the six catastrophes of 2007 Q2 generated 504,000 claims, approximately 71% […]
Lloyds current use of Electronic Claims File and the Accounting and Settlement Repository (A&S) fall short of the goals set by the Market Reform Group (MRG), prompting the markets chief executive to threaten mandating the use of the electronic processing tools.The published MRG targets for A&S uptake are 40% by end of 2007 Q2, 60% […]
By Canadian Underwriter | July 11, 2007
2 min read
Allianz Global Corporate & Specialty North America, the corporate and specialty carrier of the Allianz Group in North America, has acquired AIM Underwriting Ltd. (AIM) in Canada.Since its establishment in 1999, AIM, a managing general agent, has maintained a strong presence within the Canadian general aviation industry. It specializes in hull and liability coverage, with […]
Kingsway Financial Services Inc. (TSX: KFS) and its newly formed subsidiary Kingsway 2007 General Partnership (KGP) announced the closing of the public offering of Cdn$1 million prinicipal amount of 6% senior unsecured debentures of KGP.The debentures were sold through a syndicate of underwriters led by Scotia Capital Inc. and including RBC Dominion Securities Inc., a […]
By Canadian Underwriter | July 10, 2007
Transport Canada is making it mandatory for all new cars, vans, light trucks and SUVs to be equipped with anti-theft electronic immobilizers, effective Sept. 1, 2007.Canadian vehicle manufacturers have recently announced plans to equip 2008 model vehicles in Canada with immobilizers, thereby meeting the requirements of the Canadian standard. The manufacturers include: Audi Mercedes-Benz DaimlerChrysler […]
Craig Duncan has been appointed manager of Crawford’s newly created Regional Claims Centre in Ontario.Reporting to Greg Smith, vice president, national programs, Duncan will work with the Regional Claim Centre project team in establishing Crawfords first location in Mississauga, Ontario.The Regional Claims Centre introduces a new concept in client-focused claims service, Crawford & Company (Canada) […]
By Canadian Underwriter | July 9, 2007
Risk
A new poll by the Traffic Injury Research Foundation (TIRF) shows that nearly 1.3 million Ontarians fell asleep or nodded off while driving at least once in the past year, with 100,000 of these drivers doing so on five or more occasions. The number of fatigued and drowsy drivers in Ontario is a matter of […]
Commercial
It is absolutely vital that insurers and broker management system vendors continue to move forward with the adoption and implementation of CSIO Standards,” according to a statement released by the Centre for the Study of Insurance Operations (CSIO).The release announced a consensus reached among representatives of insurers, brokers and vendor system companies participating in the […]
By Canadian Underwriter | July 6, 2007
The Tropical Storm Risk (TSR) has downgraded the hurricane forecast from 55% above-norm in June to 40% above-norm in July. According to a Benfield news release, the reason for the reduction is that the trade wind speed over the tropical North Atlantic in August-September will be stronger than previously thought. This would suppress hurricane activity […]
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