Claims

Despite benign storm season, insurers must maintain underwriting discipline: Lloyd’s

The year 2009 will go on record as the quietest in the Noughties (the first decade of millennium) for windstorm activity, reports Lloyd’s.In total, there were only nine named storms, three hurricanes and two major hurricanes in 2009. This activity was far below the average for 1995-2008 (61%, 38% and 51% respectively). The benign storm […]

By Canadian Underwriter | December 2, 2009

1 min read

More provincial regulators might break with OSFI over “insuring in Canada a risk”: ILO paper

An apparent split between the federal and provincial jurisdictions over the question of “insuring in Canada a risk” may cause more provincial regulators to state divergent views from those of the Office of the Superintendent of Financial Institutions (OSFI), says a paper for the International Law Office published by Lang Michener LLP.Authored by Frank Palmay […]

By Canadian Underwriter | December 1, 2009

2 min read

Natural catastrophes cost global insurers US$24 billion

The total global cost to insurers of natural catastrophes and man-made disasters in 2009 was US$24 billion, versus US$50 billion worldwide in 2008, according to initial estimates published in Swiss Re’s forthcoming sigma study.  “Insured losses were below average due to a calm U.S. hurricane season,” Swiss Re reports. Worldwide, natural catastrophes will cost insurers […]

By Canadian Underwriter | November 30, 2009

2 min read

Subrogation In Fire Cases

The evidence of what causes a fire is generally consumed in the fire, Richard Lindsay, founding partner of Lindsay Kenney LLP in British Columbia, said. This makes subrogation a little different in a fire-related case, he told delegates attending the National Association of Subrogation Professionals’ Canadian Chapter’s training and education seminar in Toronto. “A lot […]

November 30, 2009

2 min read