Claims
The Ontario Superior Court of Justice ordered Chubb Insurance Company of Canada to pay just over Cdn$5 million to Missisauga policyholder Bridgette Sagl, after Sagls house burned down in December 1997.Chubb initially denied coverage based on its (ultimately disproven) theory that arson caused the fire.The court observed that Chubbs reason for denying coverage was influenced […]
By Canadian Underwriter | September 17, 2007
2 min read
Hurricane Humberto, who made landfall on southeast Texas earlier this week, likely caused damages that will not exceed US$500 million [approximately Cdn$515.37 million], reports Risk Management Solutions (RMS).The figure includes wind damage to residential, commercial and industrial properties and business interruption resulting from power outages or damage to property, an RMS release says.Wind damage has […]
By Canadian Underwriter | September 14, 2007
1 min read
Reinsurance and risk intermediary Benfield and reinsurer Partner Re have collaborated to produce the Hazard & Risk Science Review 2007, which summarizes research findings and conclusions of hazard and risk science papers published in the last 12 months that are most relevant to the insurance and resinsurance markets.The summarized findings are organized into four broad […]
By Canadian Underwriter | September 13, 2007
Supersport motorcycles have the highest death rates and worst overall insurance losses among all types of motorcycles, the Insurance Institute for Highway Safety (IIHS) reports. Supersports are built on racing platforms but modified for the highway and sold to consumers, an IIHS statement explains.In an institute analysis of deaths per 10,000 registered motorcycles, supersport drivers […]
By Canadian Underwriter | September 12, 2007
Aon is hosting a Risk tournament (the board game) in support of future leaders in risk management. The tournament will take place at Dalhousie University, Studley Campus Quad, on September 17 at 10 a.m., with roughly 200 students expected to attend. The top three will be awarded with academic bursaries for tuition or other costs […]
In the wake of the tropical storm Chantal, which hit Newfoundland and Labrador at the beginning of August causing an estimated Cdn$5.8 million in insured damages, insures are showing the commitment to policyholders, according to the Insurance Bureau of Canada. Insurers are responding quickly to residents’ claims, Don Forgeron, vice president, Atlantic, IBC, said in […]
Zurich Canada has announced it will be working with Vancouvers Simon Fraser University (SFU) to examine options for adaptation to extreme weather events caused by climate change.The ACT/Zurich Canada Extreme Weather Events program kicks off in May 2008, and will bring together Canadian and international experts to examine the challenges, publicize the issues and recommend […]
By Canadian Underwriter | September 11, 2007
The global reinsurance sector continues to remain stable, according to a Fitch Ratings Report, Reinsurance Review and Outlook: Conditions and Trends Support Stable Ratings. For non-life reinsurers, premium rates and underwriting terms and conditions are sufficient to produce near-term underwriting profits, according to the report. Capital continues to grow throughout the sector and although some […]
By Canadian Underwriter | September 10, 2007
Daniel (Dani) Goldsmith has been appointed to vice president and CFO at Hub International Limited. He will also be joining Hubs Executive Management Team and Executive Committee. Goldsmith brings with him several years of experience, including international experience, with both public and private companies, most recently serving as CFO at Almatis. He has been the […]
Allstate Insurance Company of Canada has donated $1,000 to the Association for Persons with Physical Disabilities (APPD) as part of its Trusted Community Partner Program. Allstate Insurance Company of Canada is extremely pleased to be able to make a donation to the APPD, Roland Balallo, an Allstate agent, said in a press release.As a volunteer […]
By Canadian Underwriter | September 7, 2007
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