Risk
The Financial Services Commission of Ontario (FSCO) has released updated filing guidelines for submitting changes to automobile insurance rates and risk classification systems.One change is that insurers will be required to use the major filing guidelines in situations in which a rate change of 10% or more is proposed and the insurer has not submitted […]
By Canadian Underwriter | January 5, 2007
2 min read
Frank Cowan Company has announced that Canadian-based Temple Insurance Company (Temple) will participate on all of its insurance programs starting Jan. 1, 2007. Temple is a member of the worldwide Munich Re Group.Frank Cowan Company has been providing specialized insurance and risk management solutions since 1927 to municipalities, hospitals, healthcare facilities, educational institutions and other […]
By Canadian Underwriter | January 3, 2007
The stormy seasons of 2004 and 2005 brought grim outlooks for 2006. Insurers held their collective breath and battened down the hatches, bracing for the next set of storms that Mother Nature was going to hurl their way. But calm seas, for the most part, prevailed throughout the year. Other than a few blips – […]
By Vanessa Mariga | December 31, 2006
11 min read
The New Year sees new challenges to the legal predictability coveted by insurers
By Gregory Somerville, Executive Vice-President, Claims and Reinsurance, Aviva Canada / Karin Ots, Vice | December 31, 2006
6 min read
Finding in favour of Zurich Canada in Walker v. Ritchie, the Supreme Court of Canada has effectively ended the practice of defendant insurers paying "risk premiums" to victorious plaintiffs' lawyers
By Josie Pachis, Vice President, Technical Claims, Zurich Canada | December 31, 2006
4 min read
The Ontario Court of Appeal has hinted it might be willing, given the right fact situation, to extend the doctrine of reasonable expectations to cover unambiguous policy language.
By Michael S. Teitelbaum, Senior Partner, Hughes Amys LLP (Toronto) | December 31, 2006
Insurers need to stay in touch with regulators to help ensure smooth transition to risk-based regulation.
By David Gambrill | December 31, 2006
Sometime ago, Lloyd’s of London Chair Lord Peter Levene said the following about regulation: “We need to move away from a strictly rule-book mentality, avoiding the creation of yet more paperwork and bureaucracy. In its place, we can work with our regulators to develop and require adoption of ethical principles of behaviour.” Levene’s remarks are […]
By David Gambrill, Editor | December 31, 2006
3 min read
Odyssey Re staff and guests congregated at the Hockey Hall of Fame in Toronto on Oct. 26. to meet with former Toronto Maple Leafs captain Darryl Sittler. After hearing Sittler speak, guests went home with autographed pictures of themselves standing next to Sittler and the Stanley Cup. *** The Women In Insurance Cancer Crusade (WICC) […]
December 31, 2006
The government of New Brunswick and the province’s insurance industry hammered out an agreement that will see premiums drop an average of 13.5% by Mar. 1, 2007. As promised in Premier Shawn Graham’s Charter for Change, the plan involves eliminating gender and geographic areas as rating criteria. “We will implement a process that will allow […]
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