Asbestosis, tobacco and pollution related liability exposures were identified by panelists at the recently held Casualty Actuarial Society (CAS) annual meeting as being the top three risks facing U.S. insurers in coming years. Although asbestosis claims subsided in the early 1990s, the latter part of the decade saw renewed activity, according to Jennifer Biggs, a […]
February 28, 2001
2 min read
Listed claims adjusting group Lindsey Morden Group Inc. (TSE:LM) produced a modest 1 a share profit for the third quarter of 2000, but for the full first three quarters of the year delivered its worst return of 98 a share loss. The group’s revenue for the third quarter fell to $92 million from the previous […]
January 31, 2001
2 min read
Roughly half of the amount paid by insurers through claims resulting from comprehensive auto cover on new vehicles is caused by theft, the Insurance Crime Prevention Bureau (ICPB) and the Vehicle Information Centre of Canada (VICC) recently disclosed. At a Canadian Association of Special Investigation Units luncheon, Terri Maclean, COO of the ICPB says that […]
December 31, 2000
2 min read
“While Canada does a great job responding to natural disasters and rebuilding afterward, we have a lot to do when it comes to preventing disaster,” says George Anderson, president of the Insurance Bureau of Canada (IBC). Anderson, who recently gave an address at a seminar hosted by the IBC’s sister organization, the Institute for Catastrophic […]
December 31, 2000
2 min read
Last year was one of the worst years in the 1990s for natural catastrophes worldwide. There were two major earthquakes in Turkey and one in Taiwan, Columbia, Mexico and Greece, making 1999 the year most severely affected by earthquakes since 1976. The earthquakes in Turkey and Taiwan claimed the lives of over 20,000 people and resulted in economic losses of approximately US$ 26 billion.
November 30, 2000
5 min read
As Saskatchewan’s brokers joined for their annual conference recently, proposed changes to rate classifications by Saskatchewan Government Insurance (SGI) were the hot topic for discussion. Prior to the meeting, SGI announced plans to reclassify light commercial vehicles by removing the $15,000 damage cap, in essence removing the distinction between commercial and private vehicles. The Insurance […]
November 30, 2000
2 min read
The federal and provincial legislators across Canada are slowly moving toward a uniform approach to regulating the legality of e-commerce contracts. Legislation set to be passed in Ontario this year under Bill-88 is expected to solidify this drive, with the implications immense for insurers.
October 31, 2000
6 min read
Hamilton, Ontario firefighters have a new tool to detect hot spots, thanks to Paul’s Restorations. The Hamilton-based company, which works for the insurance industry to provide cleaning and repair services following fires, floods and other claims, recently donated a Thermal Imaging Camera valued at $30,000 to the local fire department. The camera helps firefighters ‘see […]
September 30, 2000
1 min read
Second quarter 2000 results for Lindsey Morden (TSE: LM) show the global claims adjusting company suffered a net loss of $5.1 million for the three months ending June 30. The loss, which amounts to 43 a share, largely resulted from a decline in claims activity, the directors report. Included in the net loss is $4.9 […]
September 30, 2000
1 min read
Although much of the damage caused by the Pine Lake tornado was insured, the Alberta government has set aside funds to pay for uninsured losses and to cover emergency service expenses. The multimillion-dollar relief package includes an automatic $3,000 award to each adult and $750 to each child affected by the tornado. The package also […]
August 31, 2000
1 min read