September 2006 Archives

From Canadian Insurance July/August issue, you may know that Lloyd's of London pay out more in claims than they took in last year.

Lloyd's chairman Lord Peter Levene said that Canada is his second-largest overseas market, has been causing "a few frown lines."

He pointed out that in 2005, Lloyd's underwriters paid some "significant" claims arising out of a variety of risks - a fire at an Alberta oil sands facility, a U.S. securities action against a major Canadian financial institution and the August rainstorm in Ontarioi. As well, this year Lloyd's has shared in the almost $70 million in insured damages arising out of the Queen of the North ferry sinking.

In a unanimous ruling written by the chief Justice, the Supreme Court of Canada held on May 5, 2006 that "as a general rule, a social host does not owe a duty of care to a person injured by a guest who has consumed alcohol."
Private citizens who hold social parties, except in rare circumstances where they are actively implicated in creating the risk fiving rise to an accident, will not be found liable.

In BC Canada, ICBC is the only insurance carrier for basic Auto insurance. Tne name of products is Autoplan.

Basic Autoplan makes sure all B.C. drivers have some insurance. But most B.C. motorists buy extra coverage for their vehicles, themselves, and equipment they've added to their vehicles. ICBC sells a variety of optional coverages to meet these needs.

More coverage for your vehicle
Collision
Comprehensive
Specified Perils
Vehicle in Storage
Limited Depreciation Coverage
Replacement Cost Coverage
Collector & Vintage vehicles