Claims
One in three global businesses see loss of data as a significant threat and the key issue to address in operational risk management planning, according to the latest global risk briefing report conducted by the Economist Intelligence Unit (EIU) and sponsored by ACE European Group (ACE). The survey of 181 senior executives and risk professionals […]
April 1, 2007
2 min read
Rob Seal has been appointed to the position of president and CEO of Cunningham Lindsey Canada Limited (CLC). Seal has held many adjusting and management positions during his 20-year career with CLC, most recently as president of Canadian operations. “His technical adjusting skills combined with a customer-focused, employee-driven management style have enabled CLC to expand […]
11 min read
The Alberta Civil Trial Lawyers Association (ACTLA) has officially started its Charter challenge of the Alberta government’s automobile insurance minor injury policy in the Court of Queen’s Bench (Calgary) before Mr. Justice Neil Wittmann. ACTLA President Arthur Wilson, Q.C. says in a press release that the association wants the court to determine whether the minor […]
At US$15.9 billion, insured catastrophe damage in 2006 represented the third-mildest loss year since 1990, according to a Swiss Re sigma report [No 2/2007]. Of these insured losses worldwide, natural catastrophes accounted for US$11.8 billion of the total. Storms caused insured losses of US$8.4 billion, which represented the most costly damage category. The sigma report […]
1 min read
March marked National Fraud Prevention Month, and the Insurance Bureau of Canada (IBC) released information throughout the month to help educate about and prevent this type of crime.”Insurance fraud is big business,” said Rick Dubin, vice-president, investigations at the IBC. “It is a low-risk, high-reward crime that costs Canadians about $3 billion per year. However, […]
The Financial Services Commission of Ontario (FSCO) has released its Health Claims for Auto Insurance (HCAI) Rollout Guideline, which includes, among other things, revised accident benefit claims forms and a Central Processing Agency (CPA), an agent designated to receive accident benefit claims forms on behalf of insurers. “The HCAI Rollout Guideline currently applies only to […]
As claims officers and defence litigators wrestle with what causes Reflex Sympathetic Dystrophy [RSD], sympathetic Canadian courts are awarding large sums to its sufferers
By David Gambrill | March 31, 2007
4 min read
Reinsurance rates on line for personal lines, standard commercial lines and complex commercial lines in Canada are likely to be flat or up to 10% lower during mid-year renewals of property catastrophe reinsurance programs, Aon Re Global predicts.Additionally, Aon Re Global said it expects plentiful reinsurance capacity in the Canadian market.Aons expectations for Canada are […]
By Canadian Underwriter | March 30, 2007
A new Bermuda market, reputation challenges to the industry and reserve deficiencies are among 10 major changes that Mike Wills, president of Catlins Canadian operations, said hes witnessed in the insurance industry.Wills was speaking at the Ontario Risk and Insurance Management Societys (ORIMS) Professional Development Day.Rounding out the rest of his observed changes were: the […]
By Canadian Underwriter | March 29, 2007
Fitch Ratings has upgraded Lloyd’s of London’s (“Lloyd’s”) Insurer Financial Strength (“IFS”) rating by one notch to ‘A+’.At the same time, the agency has upgraded the Society of Lloyd’s Issuer Default rating (“IDR”) by one notch to ‘A’. Both ratings have stable outlooks.The rating action follows the confirmation yesterday that Berkshire Hathaway (“Berkshire”) and Equitas […]
By Canadian Underwriter | March 28, 2007
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