Claims
La Capitale General Insurance has enhanced the scope of its recreational vehicle insurance, now offering watercraft and caravan/motorhome insurance (all types) as a stand-alone insurance product.There is no obligation to obtain a home or automobile insurance contract in order to purchase watercraft, caravan and/or motorhome insurance, La Capitale announced in a press release. La Capitale […]
By Canadian Underwriter | March 12, 2007
2 min read
Risk
ACE INA Insurance and ACE INA Life Insurance, part of the ACE Group of Companies, has appointed Karen Barkley as president and CEO of ACE Canada.She succeeds Daniel Courtemanche, who is now the president and CEO of GCAN Holdings Inc., part of the Ontario Teachers Pension Funds Ontario teachers Private Capital.Barkley was previously the chief […]
1 min read
Industry
Aon Re Global and Benfield Group have reached a global and comprehensive settlement with Benfield Group of all the litigation relating to the defection of former Benfield facultative reinsurance employees to Aon Re.Under the amicable settlement, Benfield will receive payments over time totalling 9.5 million [approximately Cdn$21.5 million] which includes all of Benfields costs, according […]
The Ontario Bar Association (OBA)s Insurance Law Subsection has announced that Jesse T. Glass of Laxton Glass LLP (Toronto) and Eric R. Williams of Williams McEnery LLP (Ottawa) are the recipients of the 2007 OBA Award for Excellence in Insurance Law. Glass has worked as a lawyer since 1959 and is the past chairman of […]
By Canadian Underwriter | March 9, 2007
New Brunswicks Cdn$2,500 cap on soft tissue and minor personal injuries has just withstood a court challenge in the trial division of the Court of Queens Bench of New Brunswick.In Rossignal v. Rubidge, Court of Queens Bench Justice David H. Russell considered a case in which a motorcycle driven by the plaintiff, Patrick Rossignal, struck […]
The Financial Services Commission of Ontario (FSCO) has released its Health Claims for Auto Insurance (HCAI) Rollout Guideline, which includes, among other things, revised accident benefit claims forms and a Central Processing Agency (CPA), an agent designated to receive accident benefit claims forms on behalf of insurers.The HCAI Rollout Guideline currently applies only to participating […]
National Bank of Canadas outgoing president and CEO, Ral Raymond, indicated in a Mar. 7, 2007 speech to shareholders that the banks have clearly not given up advocating for changes in the Bank Act respecting insurance.Revisions to the Bank Act, anticipated to be passed in April 2007, currently do not include provisions that would allow […]
By Canadian Underwriter | March 8, 2007
EQECAT is launching a new Offshore Energy Model to help the insurance industry manage this risk.Details about the model will be discussed during EQECATs March 2007 Catastrophe Management Conference. EQECAT noted the storms of 2004-05 caused significant losses in the offshore energy market in the Gulf of Mexico, consuming more than five years of the […]
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Royal & SunAlliance Canada reported a strong performance in 2006, with premium growth of 9% and a combined operating ratio of 92%.Royal & SunAlliance Canada reported an underwriting profit of Cdn$100 million, which is 75% above that of the previous year. Net written premiums were up 9%, to Cdn$1.4 billion, with Cdn$262 million in new […]
At US$15.9 billion, insured catastrophe damage in 2006 represented the third-mildest loss year since 1990, according to a Swiss Re sigma report [No 2/2007].Of these insured losses worldwide, natural catastrophes accounted for US$11.8 billion of the total. Storms caused insured losses of US$8.4 billion, which represented the most costly damage category.The sigma report notes the […]
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