Claims

Ontario Court Awards Record Auto Injury Amount Of $18.4 Million

A 22-year-old Beeton, Ont. woman who suffered a serious brain injury in a 2002 auto accident has received a court award of $18.4 million. The sum, awarded by the Ontario Superior Court, is thought to be the highest-ever damage award in Canada for injuries suffered in a car accident. Katherine-Paige (KP) MacNeil, 15 years old […]

September 30, 2009

2 min read

Insurer’s Reserves “Should Almost Never Be Ordered Produced”: FSCO Arbitrator

An insurer’s reserves “should almost never be ordered produced” in statutory accident benefits claims made under Ontario’s SABS legislation, an arbitrator for the Financial Services Commission of Ontario (FSCO) has found. Reserves are estimated amounts assigned by an insurer to account for the total possible future payout of a person’s claims arising from an accident. […]

September 30, 2009

1 min read

Issues Affecting The Claims Manager

Deficient infrastructure is a significant problem in many areas, which could lead to restrictions on coverage or the creation of a different pricing structure, according to panelists at the Canadian Insurance Claims Managers’ Association (CICMA) general meeting. George Cooke, president and CEO of The Dominion, noted at the Sept. 9 meeting the lack of proper […]

September 30, 2009

3 min read

Insurance Industry Sees Spike In PIPEDA-Related Complaints

The insurance industry yielded 17 per cent of the Personal Information and Electronic Documents Act (PIPEDA)-related complaints lodged in 2008. Last year there were 442 new complaints in total, marking an increase from 2007’s 350 complaints. Financial institutions as a whole took the lion’s share of complaints (between 22 per cent and 30 per cent) […]

September 30, 2009

1 min read