Claims
Hub International Limited (TSX: HBG) announced that its shareholders approved the proposed plan for Apax Partners and Morgan Stanley Principle Investments to acquire all of Hubs common shares.The plan of arrangement was approved by 92.7% of the votes cast by all shareholders at the meeting and by 91.9% of the votes cast by disinterested shareholders, […]
By Canadian Underwriter | June 5, 2007
1 min read
Industry
An Ontario Superior Court of Justice case, Oliveira v. Mullings, recently considered the standard for summarily dismissing a claim made against an auto insurer.The claim was based on a September 2003 motor vehicle collision, in which one of the defendants, Phillip Mullings, was the driver of a vehicle owned by his mother, defendant Claudia James. […]
By Canadian Underwriter | June 4, 2007
2 min read
Home
Markel International has launched an insurance product to cover complementay and alternative medicine malpractice.The rise in popularity of no-win no-fee arrangements has increased the number of claims against alternative and complimentary practitioners, which has driven up the demand for malpractice insurance, Julian Brown, Markel underwriter, said in a statement.The new product will provide cover for […]
International risk managers see human capital risk as being the most significant threat facing their global business operations, according to a survey conducted by the Economist Intelligence Unit and sponsored by the ACE Group of Companies. The surveys findings show that human capital risk, such as skills shortages, succession issues and the loss of key […]
Risk
Pembridge Insurance Company has moved into Quebec, after the companys official launch in the province today. The launch of Pembridge in Quebec is a hallmark moment for our company, and it is a reflection of our commitment to consumers and the independent broker, Bob Tisdale, the president and chief operating officer, said in a release. […]
The terms and conditions for both cat risks and non-cat risks in the global property insurance market are changing more rapidly than many would have anticipated a year ago, says a recent Willis Group Holdings Ltd.s property alert.In Willis Property Alert: A Tale of Two Evolving Markets the broker reviewed natural catastrophe losses over the […]
By Canadian Underwriter | June 1, 2007
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) funded by participating countries, donors and the World Bank is now operational, starting with a claims-paying capacity of US$110 million on the international reinsurance and capital markets.. Thanks to the support of the international financial markets and all parties involved, insurance coverage can be confirmed to participating countries […]
Hannover Re has completed the sale of its U.S. subsidiary, Praetorian Financial Group, Inc., New York, to the Australian QBE Insurance Group Ltd., Sydney.The deal had been agreed upon in December 2006 and was closed, effective May 31, 2007, upon receipt of the required approval from regulators.QBE’s U.S. subsidiary has acquired all shares of Praetorian. […]
The Insurance Bureau of Canada (IBC) has welcomed new legislation in B.C. that the IBC says will provide more competition and choice in the provinces auto insurance market.Bill 93, adopted in 2003, aims to clearly separate basic insurance from optional insurance products to give British Columbia drivers more options regarding their insurance coverage.Bill 93 ensures […]
Technology trends in claims management revolve around some key themes, including a move to bridge or convert from legacy systems, enhanced performance measurement, improved client access to files, claims "portals" and the increased functionality of wireless adjusting solutions. What was once simply talk is now turning to action for many insurance company claims departments and independent adjusters.
By Craig Harris | June 1, 2007
13 min read
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