Claims
In a survey of businesses, Mississippi continues to rank as the worst jurisdiction in terms of perceived legal fairness, according to the annual study of state liability systems published by the U.S. Chamber of Commerce’s Institute for Legal Reform.The ILR study does suggest improvement may be in the works in Mississippi, however, with 96% of […]
By Canadian Underwriter | March 9, 2005
1 min read
Risk
A bulletin from the Financial Services Commission of Ontario (FSCO) outlines the provincial insurance regulators new rules on underwriting. The new regulations passed by the Ontario government restrict underwriting criteria and non-payment terminations.Regulation 664 has been amended to eliminate the use credit history and credit ratings in determining whether to offer or renew coverage, and […]
The Risk & Insurance Management Society is established in its new location at 1065 Avenue of the Americas, 13th Floor, New York, NY, 10018. Phone and fax numbers and email addresses remain the same. FM Global’s ratings outlook has been raised to “positive” from “stable” by rating agency Fitch. At the same time, FM Global’s […]
Auto
One in five drivers admits they have fallen asleep at the wheel at least once in the past 12 months, according to a "road safety monitor" study by the Traffic Injury Research Foundation (TIRF).In total 4.1 million Canadians admit to nodding off while driving, and yet, only 57% of respondents see driving tired as a […]
By Canadian Underwriter | March 8, 2005
Industry
The Roman Catholic Episcopal Corp. of St. George’s in Newfoundland has filed a notice of intent to file a bankruptcy proposal. The filing would stay proceedings in civil actions against the diocese, including those filed since 1991 on behalf of 36 victims of sexual abuse by St. George’s former priest, Kevin Bennett. The diocese says […]
2 min read
An Ontario Superior Court judge has turned down a move by several tobacco companies to recover legal costs from recent failed class action lawsuits filed by smokers in the province. The companies – Imperial Tobacco Ltd., Rothmans Benson & Hedges Inc. and JTI-Macdonald Corp. – had requested reimbursement of more than $1.2 million in costs […]
Famous for its criticism of private insurers, the Consumers’ Association of Canada (CAC) is this time aiming its disapproval at B.C.’s public insurer.The CAC, which has stated on numerous occasions its preference for publicly-run auto insurance systems, says the Insurance Corp. of B.C. (ICBC) should reduce its rate to offset record profits announced late last […]
By Canadian Underwriter | March 7, 2005
Fourteen of 16 small cars were rated poor in tests simulating a side impact crash with an SUV, says the U.S. Insurance Institute for Highway Safety (IIHS).Only the Chevrolet Cobalt and Toyota Corolla, which are equipped with optional side airbags with head protection achieved an acceptable rating on the text, however, without the optional airbags, […]
In its latest Schadenspiegel publication, Munich Re looks at some of the most significant industrial disasters in history and finds significant exposure coming from the chemical and oil/gas sectors.Data from European countries shows the majority of industrial incidents reported come from these sectors – the "Major Accident Reporting System" (MARS) finds 20% of incidents reported […]
Aviva Canada has officially launched its "Autograph" program in Ontario. The program allows drivers to monitor their driving habits (including speed and how far the car is driven) through a device attached to their car, and to submit this information voluntarily after six months to the insurer for rebates as high as 25%. The pilot […]
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