Claims

Cunningham Lindsey Canada

Cunningham Lindsey Canada held a cocktail reception on Apr. 23 in Toronto at Forte Bistro and Lounge. Cunningham Lindsey technical adjusters from across Canada were on-hand to meet and greet the more than 150 guests who attended from throughout the insurance and risk industry.

May 31, 2009

1 min read

Claims

A.M. Best’s proposed stress testing to take company’s catastrophe management history into account

A.M. Best’s proposed methodology for natural catastrophe stress-testing takes into account a company’s prior history in a natural catastrophe situation.The draft proposal was developed based on analysis regarding reinsurance recoverable payment patterns related to several natural catastrophe events in recent years, the company adds. The ratings agency went on to note in its Draft: Natural […]

By Canadian Underwriter | May 28, 2009

1 min read

Claims

Climate change a growing liability for (re)insurers: Guy Carpenter

The potential liability related to climate change is a threat for the (re)insurance industry to consider, according to Christopher Klein, head of global business intelligence at Guy Carpenter. Liability in this context not only refers to the increased costs associated with natural disasters, but also the environment-related class actions being argued in the courtroom as […]

By Canadian Underwriter | May 27, 2009

2 min read

Claims

ICLR to host Canadian hurricane workshop

The Canadian Hurricane Centre (CHC) and the Institute for Catastrophic Loss Reduction (ICLR) will discuss, during their June 25 workshop in Toronto, “lessons learned” from successes and failures of predicting tropical cyclones.In addition, the outlook for the 2009 storm season will be reviewed. The workshop, hosted by the ICLR, will feature Peter Bowyer, CHC program […]

By Canadian Underwriter | May 25, 2009

1 min read

Prepare for more severe version of H1N1: Marsh

Global insurance broker and risk advisor Marsh is warning businesses to be prepared for the possible outbreak of a second, more severe mutation of influenza A (H1N1) later this year.Toby L. Merlin, M.D., deputy director of the influenza coordination unit at the Centers for Disease Control, participated in a Marsh Web cast related to the […]

1 min read

ING Canada reports Cdn$36.3-million loss in 2009 Q1

ING Canada Inc reported a net loss of Cdn$36.3 million in 2009 Q1, compared to a net gain of Cdn$23 million in 2008 Q1.The company cited home insurance results as a major contributor to the loss.”Our operating performance continued to be healthy during the quarter driven by good underwriting results,” said Charles Brindamour, president and […]

1 min read

Catastrophe severity will affect pace of hardening market in 2009: Advisen

The severity of the 2009 catastrophe season is a wild card in determining the speed at which the commercial insurance market will harden this year, says a recent briefing by Advisen, ‘The Insurance Market in 2009: A Market Poised for Change.’Commercial rates “are likely to bottom out by the end of the year,” Advisen says, […]

2 min read

What’s New: In Brief (May 01, 2009)

A wildfire in Halifax that forced 1,200 residents to evacuate their homes and destroyed or damaged at least 15 homes is under control, according to CBC.ca. Insurance Bureau of Canada (IBC) is urging homeowners and tenants affected by the fire in the Spryfield area to contact their insurance providers, as insurance policies may contain coverage […]

2 min read

Claims (May 01, 2009)

ONTARIO JURY SETS FUTURE CARE COSTS BAR AT CDN$13.9 MILLION The Court of Appeal for Ontario has upheld a jury award in an automobile brain injury case of roughly Cdn$17 million — including a record Cdn$13.9 million for future cost of care. In Marcoccia v. Ford Credit Canada Ltd., Ford Credit appealed a number of […]

April 30, 2009

2 min read

Economic and national security could be threated by climate change

Climate change is likely to threaten countries’ economic and national security, according to a 360º report from Lloyd’s. This will spark growing tension between states, as competition heats up for increasingly scarce natural resources — food, water and energy, according to Climate Change and Security: Risks and Opportunities for Business. “As climate change takes hold, […]

2 min read