Claims
The U.S. Securities Exchange Commission recently served MBIA Inc. with a “Wells” notice in lieu of the retroactive reinsurance the bond insurer had purchased to cover its losses.As a result of its actions to cover losses resulting from its guarantee of bonds issued by Allegheny Health, Education and Research Foundation, MBIA may face a civil […]
By Canadian Underwriter | August 22, 2005
1 min read
U.S. district courts saw a decrease of 79% in the number of tort trials concluded between 1985 and 2003, according to a recent U.S. Department of Justice’s Bureau of Justice Statistics report.The report states that 768 tort casesprimarily personal injurywere decided in U.S. district court trials in 2003 compared with 3,604 in 1985."The growing use […]
By Canadian Underwriter | August 19, 2005
More than 11 million litres of liquid manure recently spilled into Black River in the northern area of New York initially posing a concern to Kingston, ON city officials.President and CEO of Utilities Kingston Jim Keech says he is monitoring the spill and is confident that it will not reach Kingston. The spill was caused […]
A record number of tropical storms may result from the 2005 North Atlantic hurricane season, according to Tropical Storm Risk (TRS) – led by University College London’s Benfield Hazard Research Centre.Approximately 22 tropical storms, TSR reports, may form in the Atlantic basin throughout this years hurricane season. Further to their prediction, TSR says half of […]
By Canadian Underwriter | August 15, 2005
An Environmental Protection Commission was recently formed to perform reviews and make recommendations regarding Alberta’s ability to respond to environmental incidents, according to Alberta Environment Minister Guy Boutilier.Although the suggestion of the Commission was just recently evoked, Boutilier says it will be operational immediately by reviewing best practices for responding to environmental incidents and recommending […]
2 min read
Total revenue for Pethealth Inc. (TSX VENTURE:PTZ) for the second quarter of 2005 rose 22% to reach $3.5 million from $2.9 million for the same period last year.The Company’s net loss for the Q2 decreased slightly to $107,109 from $109,171 for the comparable quarter ended June 30, 2004.Pethealth’s insurance operations saw a gross written premium […]
By Canadian Underwriter | August 11, 2005
A new policy bestows airport personnel with the power to turn suspicious travelers away and ban from all them from all Canadian flights without explanation, according to Transportation Minister Jean Lapierre.An anti-terrorism plan will also be initiated according to Lapierre and he elaborates that this plan will develop a secret no-fly list that will be […]
By Canadian Underwriter | August 10, 2005
A recent wild fire ravaging an Okanagan sagebrush field just a few 100 metres away from Oliver city, B.C., has forced many residents to flea their homes. The fire quickly grew to 500 hectares before air tankers began to fight the flames.Most recently, the fire covered approximately 60 hectares.The fire is now moving up a […]
A Government of Alberta investigation at the site of the recent CN train derailment near Wabamun has uncovered evidence that a hazardous chemical might have leaked into Lake Wabamun. As a precaution, area residents are being told to avoid using water from the lake or wells surrounding the lake until further notice. “Our investigation has […]
By Canadian Underwriter | August 9, 2005
A Canadian National tank car that recently derailed causing toxic chemicals to spill into the Cheakamus River.The possible cause of the derailment may be a faulty section of track, according to Canadian National officials. The damaged track was removed for analysis by CN so that information could be retrieved internally prior to being sent to […]
By Canadian Underwriter | August 8, 2005
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