Risk
Insurers shouldn't get tied up in knots over the different approaches for policy system conversion
By Robert Symons, President, Tritech Financial Systems Inc. | May 31, 2007
5 min read
Industry
Canada’s financial services sector generally – and Canada’s insurance industry in particular – is no doubt keeping a careful eye on where the federal finance ministry is going to go next with its Anti-Tax-Haven initiative. You may recall Finance Minister Jim Flaherty’s 2007 budget speech on Mar. 19, 2007, in which he took a tough […]
By David Gambrill, Editor | May 31, 2007
3 min read
Aon Reed Stenhouse, celebrating its 20th anniversary in April, contributed to building five community playgrounds across Canada
By Stephen Barrigar, Manager, Corporate Communications, Aon Reed Stenhouse | May 31, 2007
2 min read
Home
Canadian reinsurers in 2006 collectively posted their highest net income in the past four years, according to data collected by the Reinsurance Research Council (RRC). The RRC data was presented by a panelist speaking at a Property Casualty Underwriter Club (PCUC) luncheon meeting in Toronto. In a presentation to the PCUC luncheon, Aon Re Canada […]
May 31, 2007
1 min read
Claims
The 2007 hurricane season is likely going to be “very active,” with landfall probabilities well above their long-period averages. This is largely due to the rapid dissipation of El Nino conditions, according to researchers at the Colorado State University’s Department of Atmospheric Sciences. The researchers say the probability of at least one major (Category 3-5) […]
Ambiguity in policy wording often benefits the insured and not the insurer, Anthony Cole, an associate at McCague Peacock Borlack McInnis & Lloyd LLP, told attendees at the Canadian Independent Adjusters’ Association [CIAA]’s Ontario regional educational seminar. “Ambiguity is sort of in the eye of the beholder.” Cole said. “[Policy is] not always as clear […]
Ontario’s Court of Appeal has deemed the 2002 biting of an outdoor worker by a West Nile Virus-carrying mosquito an “accident,” awarding the worker Cdn$130,000 of coverage under his insurance policy. Ryszard Kolbuc was working as a plasterer when the virus-carrying mosquito bit him, rendering him a paraplegic. At the time of the accident, Ontario […]
Auto
B.C. insurance brokers do not want to be front-and-centre in the provincial government’s recent legislative initiative to deny auto vehicle licenses – and auto insurance – to people who haven’t made child support payments. Ted Lewis, the first vice president of the Insurance Brokers Association of B.C., told a convention of the Insurance Brokers Association […]
The Supreme Court of British Columbia recently awarded a widow Cdn$6.4 million, Cdn$4.2 million of which was for the potential loss of support due to the death of her husband, a laser eye surgeon, in a 2002 car accident. Barry Carter was driving a van owned by his employer, a cable company, when he went […]
The Law Society of Upper Canada is now responsible in law for regulating independent paralegals, including Statutory Accident Benefits Schedule (SABS) representatives. FSCO has been consulting with the law society on how the transition to paralegal regulation by the law society will take place. Currently, SABS representatives are required under the Insurance Act to file […]
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