Claims

Members not supporting IBAO’s call for ban on credit scoring should “get in the game”: IBAO president

Members of the Insurance Brokers Association of Ontario (IBAO) who do not support the association’s call for an “outright ban” on credit scoring need to “get in the game,” IBAO president Peter Blodgett said in a speech made at the IBAO’s 89th annual convention in Toronto.The IBAO in May 2009 called on Ontario’s insurance regulator […]

By Canadian Underwriter | October 22, 2009

2 min read

Claims

What’s New: In Brief (October 19, 2009)

Craig Brown, a professor at the University of Western Ontario’s Faculty of Law, has joined Toronto’s Thomas Gold Pettingill LLP as counsel in the areas of insurance policy interpretation and tort law.Brown has written four books on insurance law. He co-authored Insurance Law in Canada with TGP’s Tom Donnelly.He has served as a consultant to […]

By Canadian Underwriter | October 19, 2009

1 min read

Claims

Arctic could be free of ice during the summers within 10 years

Within the decade, the Arctic Ocean could be nearly free of ice during the summer months. New data gathered by the Catlin Arctic Survey earlier this year provides further evidence that the sea ice is thinning faster than previously thought, according to Lloyd’s of London. Data collected by manual drilling on a 450-km route across […]

By Canadian Underwriter | October 19, 2009

1 min read

Claims

Climate change exclusions likely to be written into commercial general and excess liability policies

Risks related to climate change are so expansive as to be uninsurable, and therefore it is likely climate change exclusions will be written into general commercial and excess liability insurance policies in the near future, predicts Rodney Taylor, managing director of Aon Environmental Services Group.Taylor spoke at ‘Environmental Risks,’ a seminar organized by The ARC […]

By Canadian Underwriter | October 16, 2009

3 min read

Claims adjusters can leverage insurers’ ability to pay to take control of environmental clean-ups

Insurance claims adjusters can leverage their expert knowledge, as well as their insurance companies’ ability to pay for large-scale clean-up operations, to exert control over complicated environmental damage claims that typically span multiple jurisdictions.Panelists John Cherrie of Cherrie Griffith Professional Insurance Services and Douglas Hallett of the Hallett and Environmental and Technology Group Inc. both […]

2 min read

B.C. privacy commissioner finds three more instances of jury checking by ICBC

An audit by B.C.’s Office of the Information and Privacy Commissioner identified six occasions on which driving and claims information of jurors was accessed and in some of those cases, was disclosed to outside defence counsel representing ICBC.In May 2009, ICBC conducted an internal investigation of all its jury trials that could be found going […]

1 min read

Credit crisis no longer chief source of securities litigation: Advisen Ltd.

The credit crisis is no longer the chief source of securities litigation in the United States, a recent report from Advisen says.”The third quarter [of 2009] saw a robust 169 new securities lawsuits filed, but the credit crisis is no longer leading the litigation charge,” says Advisen’s quarterly update on securities litigation, Securities Suits Come […]

2 min read

Ontario-Quebec trade agreement calls for harmonizing approaches to insurance regulation

An inter-provincial trade agreement, the Ontario-Quebec Trade and Cooperation Agreement, has come into force as of Oct. 1, and already some are calling for it to be more like the Trade, Investment and Labour Mobility Agreement (TILMA) between B.C. and Alberta. Somewhat like TILMA, the Ontario-Quebec agreement proposes to “enhance the efficiency of the region’s […]

2 min read

Insurance industry ahead of climate change adaptation

Insurers are the most advanced organizations in adapting to climate change, according to a study from the Network for Business Sustainability. The insurance industry sets itself apart with institutional networks that promote calibration, the study says. The Network for Business Sustainability says one insurance company in its study had assembled insurers, academics, governments and NGOs […]

1 min read

Guy Carpenter predicts booming cat bond market for 2009 Q4

The catastrophe bond market is poised for an active 2009 Q4, according to a new report issued by Guy Carpenter & Company LLC and GC Securities, a division of MMC Securities Corp.The report, Cat Bond Update: Third Quarter 2009, posted at www.GCCapitalIdeas.com, concludes that a number of trends are converging that could result in a […]

2 min read