Claims
The Insurance Bureau of Canada (IBC) has endorsed proposed amendments to Ontario’s Highway Traffic Act that would require one seatbelt for each passenger in a vehicle.”We applaud [Ontario Transportation] Minister Donna Cansfield for taking swift action to address this serious road safety concern” Mark Yakabuski, IBC’s vice-president, federal affairs and Ontario, said in a press […]
By Canadian Underwriter | October 17, 2006
2 min read
Crawford & Company has mobilized its Canadian and U.S. staff to handle “any and all claims needs” following a sizable earthquake with a magnitude of 6.6 that sent more than 20 sharp aftershocks across the Hawaii islands on Oct. 15.”We have been in close contact with our head office in Atlanta, as well as with […]
By Canadian Underwriter | October 16, 2006
1 min read
Although they’ve improved steadily in the past four years, returns in the homeowners insurance business still aren’t adequate to cover the cost of capital, according to a new report prepared by Aon Re.Sharp increases in homeowners’ rates after the 2004 and 2005 storms have failed to provide insurers the opportunity to earn back their cost […]
By Canadian Underwriter | October 11, 2006
A report recently released by Allianz Group and the World Wildlife Fund reveals that insurers need to increase their efforts in dealing with damages resulting from climate change.Insurers are called to the table by the report, entitled “Climate Change and Insurance: An Agenda for Action in the United States,” to work with catastrophe modelers and […]
Defective door latches are at fault for the recall of approximately 145,000 Ford Motor vehicles, including 13,683 in Canada. The Company plans to repair the defective parts which are found on vehicles including the 2005 Five Hundred, 2005 Mercury Montego sedans and 2005-06 Freestyle. Representatives of Ford explain that it is possible water could seep […]
A strong first half of the year has put Manitoba Public Insurance (MPI) into a stable financial position as it heads into the traditionally claims-prone winter months, the government insurer noted in a press release.For the six months ended August 31, 2006, the corporation reported net income of CD$65.4 million. The results are CD$21.6 million […]
By Canadian Underwriter | October 10, 2006
The Australian Prudential Regulation Authority (APRA) has released an information paper and prudential practice guide (PPG) to assist APRA-regulated institutions including insurers and reinsurers with their planning for a potential pandemic.”The advice is being released following consultation with industry and research into pandemic planning that is taking place around the world,” APRA said in a […]
A unit of American International Group Inc. issued The Environmental Quality Co. a pollution liability policy with a US$28 million aggregate limit along with other coverages to the operator of a hazardous material facility, which recently burned and forced thousands of residents near Raleigh, N.C. to evacuate.American International Specialty Lines underwrote the pollution policy, which […]
In an effort to raised money for a children’s literacy program in Tanzania, Royal & SunAlliance board member George Anderson climbed 20,000 ft in seven days to reach the top of Mount Kilimanjaro, Africa’s tallest mountain. Anderson is a member of the board of directors of CODE, an organization that promotes literacy in underdeveloped countries […]
By Canadian Underwriter | October 6, 2006
When Fire Prevention Week officially kicks-off in Oromocto on Oct. 7, the Insurance Bureau of Canada (IBC) will be making two special presentations to show support for New Brunswick’s 4,100 volunteer and 535 career firefighters.As part of the opening ceremonies, Bill Adams, the regional director of the IBC’s ‘Be Smart. Be Safe.’ campaign, will present […]
By Canadian Underwriter | October 5, 2006
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