Claims
CARSTAR Automotive Canada teamed up with “Young & The Restless” star Melody Thomas Scott (Nikki Newman) to kick-off the first annual CARSTAR “Soaps it Up for Cystic Fibrosis” National Car Wash. CARSTAR shops across Canada raised more than $30,000 for the Canadian Cystic Fibrosis Foundation, with more than 4,000 cars getting “soaped up”. At top, […]
July 31, 2004
2 min read
International adjuster Lindsey Morden (TSX: LM) says its net loss widen to $2.9 million ($0.21 per share) for the second quarter ending June 30, 2004. This compares to a net loss of $2.6 million ($0.19 per share) for the same period in 2003.Overall revenue was down to $102.1 million for the most recent quarter from […]
By Canadian Underwriter | July 29, 2004
1 min read
Last week’s heavy rains in Japan are expected to cost insurers US$137 million, according to the General Insurance Association of Japan. At the same time, the oil industry in Europe is reeling from two refinery firs in the past month which are expected to cost in the tens of millions of Euros.In Japan, The Fukushima […]
By Canadian Underwriter | July 26, 2004
The U.S. Senate will consider a bipartisan bill to extend the Terrorism Risk Insurance Act (TRIA) until the end of 2007, much to the delight of insurers. The Property Casualty Insurers Association of America (PCI) says it is pleased to see legislators taking quick action in recognition of the need for stability in the terrorism […]
By Canadian Underwriter | July 22, 2004
Earthquakes which shook British Columbia this week point to the need for homeowners to ensure they have adequate coverage in place to deal with the earthquake risk, and to the need for disaster preparation to be in place in homes.The B.C. Automobile Association (BCAA) sent out the reminder to the province’s residents to review their […]
By Canadian Underwriter | July 21, 2004
Insured losses from the hail and rainstorm which caused widespread flooding in the Edmonton area have already caused insurers to post at least $87 million in reserves, and the total is sure to rise, says Louise Bremness, manager of regional services for the Insurance Bureau of Canada (IBC).With 19 insurers reporting preliminary claims figures, Bremness […]
By Canadian Underwriter | July 20, 2004
The Insurance Bureau of Canada (IBC) is urging homeowners affected by the Peterborough, Ontario floods to check their insurance coverage with their insurer or representative as soon as possible to see if they are covered for sewer back-up. While flooding or water seepage is generally not covered, policies may contain coverage for sewer back-up. No […]
By Canadian Underwriter | July 18, 2004
(Note change in last two paragraphs.)While claims figures are not yet available for flooding and hail damage in the Edmonton area this past weekend, the storms are likely to prove costly for insurers, says Jim Rivait, vice president of the Prairie region for the Insurance Bureau of Canada (IBC). Rivait notes the weekend weather damage […]
By Canadian Underwriter | July 15, 2004
Adjusters have already made their way to Peterborough, Ontario, where flooding has left the city in a state of emergency. While no damage figures are yet available, the city faces massive clean-up as basements flooded and roads washed away in heavy rainfall Thursday.Some areas saw rainfall as high as 230 mm, and the storm watch […]
With the future of the Terrorism Risk Insurance Act (TRIA) currently being debated by U.S. legislators, the American Academy of Actuaries (AAA) says the insurance industry will not be prepared to assume the risk if TRIA is not renewed beyond its December 31, 2005 deadline.In its report, “P/C Terrorism Insurance Coverage: Where do we go […]
By Canadian Underwriter | July 14, 2004
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