Auto
Manitoba Public Insurance (MPI) is welcoming a judgement by the province’s courts to hand a jail term to a man convicted of fraud against the public auto insurer.John Francis Lucas, 50, was given a two-year sentence for fraud under $5,000 by Judge Glen Joyal. The judge noted that the sentence should send a message that […]
By Canadian Underwriter | December 8, 2003
1 min read
Claims
Eminent hurricane forecaster Prof. William Gray of Colorado State University says the above average hurricane season experienced in 2003 could well be repeated in 2004. “The recent upturn in Atlantic basin major hurricane activity which began in 1995 is expected to continue in 2004,” states Gray’s most recent prediction. “We anticipate an above average probability […]
Industry
SIAA (Strategic Independent Agents Alliance), the largest network of partnering independent insurance agencies in the U.S., recently announced that Omni Insurance Brokers of London, Ontario has assumed control of SIAA Canada and has established Southwest Brokers Network as a Strategic Master Brokerage covering southwest Ontario.According to Randall McDonald, Chairman of SIAA Canada, “This will be […]
By Canadian Underwriter | December 7, 2003
The provincial Progressive Conservative government of Alberta pushed through auto insurance product reform legislation just prior to closure of the parliament’s fall sitting. A significant component of the reform measures is a $4,000 cap on minor bodily injuries.The legislation, which has met resistance from injury lawyers and healthcare service providers, will likely be implemented in […]
By Canadian Underwriter | December 5, 2003
Home
A British Columbia Supreme Court jury has awarded ICBC $4.5 million in a civil lawsuit against two brothers who operated a chop shop in Mission, B.C. It is believed to be the largest punitive award of its kind.<br> “This is a tremendous win for ICBC customers,” said Mark Withenshaw, ICBC’s vice president of loss management. […]
2 min read
While financial market turbulence continued to plague the insurance markets in 2002, some signs of recovery were evident in the most important markets: the non-life insurance sector grew at a record-breaking rate, the life sector posted minor improvement according to a Swiss Re sigma analysis of 2002 insurance data for 91 countries. Global premium volume […]
By Canadian Underwriter | December 3, 2003
Loyalist Insurance Group Ltd. (TSX: LOY) has turned its ship around for the third quarter ending September 30, 2003, posting profit of $593,000 versus a loss of $473,000 for the same period a year earlier.These figures do not include results for Loyalist Group Ltd. (LGL) following on the group’s decision to reduce its ownership in […]
By Canadian Underwriter | December 2, 2003
Along with the announcement by Aviva that it would move 2,350 jobs out of the U.K. to India, the company also announced it would set up a sales center in India to deal with Canadian business. The company stresses there will be no Canadian job losses as a result of the new operation.About 150 people […]
As part of a joint effort between the Insurance Bureau of Canada (IBC) and the Toronto Police, 59 people now face charges in connection with auto theft.Project Heat “help eliminate auto theft” – as it has been dubbed, involves the IBC sharing data with the police to aid in auto theft investigations, as well as […]
By Canadian Underwriter | December 1, 2003
In two separate crash test studies, midsize SUVs (sport utility vehicles) fared relatively worse at lower speeds, according to research by the U.S. Insurance Institute for Highway Safety (IIHS). In tests simulation 40 mph frontal offset crashes, eight of nine new SUV models earned the top rating of good, while the other was rated acceptable. […]
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