Claims

What’s New: In Brief (April 02, 2008)

Insurance Bureau of Canada (IBC) has issued warnings to Ontario and Atlantic policyholders of overland flooding due to spring thaw. IBC stresses preventative actions, because overland flooding is not covered by home insurance policies. Sewer back-up coverage is usually available as an add-on to policies, an IBC release says. Damages due to a roof collapse […]

By Canadian Underwriter | April 2, 2008

1 min read

Chubb places US$200-million cat bond covering Canadian/U.S. wildfires

The Chubb Group of Insurance Companies has placed a US$200-million catastrophe bond providing multi-year reinsurance protection against hurricanes, earthquakes, thunderstorms, winter storms, wildfires and other perils in both the United States and Canada.The risk period on the bonds ends Mar. 31, 2011. Known as East Lane II Ltd., the bond provides Chubb companies, including the […]

By Canadian Underwriter | April 2, 2008

1 min read

Captive market grows in spite of soft-market conditions

Although the growth of captive insurance companies has been relatively “flat” in the current soft insurance market, growth is still possible during soft markets because captives are driven more by market volatility than by market cycles, keynote speaker Nancy Gray said at the 4th annual Captives Insurance Strategies Summit Conference in Toronto. In a slide […]

By Canadian Underwriter | April 1, 2008

2 min read

Ontario trial lawyers consider court challenge opposing Ontario’s auto injury deductible

The Ontario Trial Lawyer’s Association (OTLA) is considering a court challenge similar to Alberta’s recent Charter challenge that overthrew the Cdn$4,000 cap on minor auto injuries. Patrick Brown, president-elect of the OTLA, says that in light of the recent Alberta decision in Morrow v. Zhang, the Ontario government should make the appropriate changes to its […]

March 31, 2008

2 min read