Claims

Ice Storm today may generate twice the losses than a decade ago

A recurrence of the 1998 Ice Storm today would result in total insured losses of between US$1 billion and US$3 billion — potentially twice the US$1.3- billion cost incurred in 1998, according to a retrospective report by Risk Management Solutions (RMS). RMS released the report on the 10th anniversary of the storm that devastated portions […]

January 31, 2008

1 min read

Fairfax and Cunningham Lindsey seal the deal with Stone Point

Fairfax Holdings Limited and Cunningham Lindsey Group Inc. have closed a transaction pursuant to an agreement with Trident IV, L. P., a private equity fund managed by Stone Point Capital LLC. According to the agreement, Stone Point acquired a 51 per cent interest in a holding company that owns the operating businesses of Cunningham Lindsey […]

January 31, 2008

1 min read

Notification period doesn’t depend on insured’s co-operation

In an insurer’s investigation of an accident benefit claim, the non-cooperation of an insured accident victim doesn’t necessarily determine whether or not an insurer had sufficient time to serve notice on other insurers to dispute benefit payment obligations. The Ontario Superior Court issued the ruling recently in Liberty Mutual Insurance Company v. Zurich Insurance Company. […]

January 31, 2008

2 min read

Aon predicts 2008 will be even warmer than 2007

The first half of 2008 will likely bring warmer weather in southern Canada and increased storm activity in the southern United States, Aon’s Annual Global Climate and Catastrophe Report: 2007 says. The period between January and May 2008 will mainly be influenced by the El Nino/Southern Oscillation, which is an anomalous warming or cooling of […]

January 31, 2008

2 min read