Call Us Insurance re-Launched

Call Us Insurance (Callusins) is a place for everyone. Callusins is previously known as Yinac Insurance Center, North America Insurance Advisor, since 2005. Now we merged all to Call Us Insurance web site.

It is a new start for us. And also for you. Our readers. We re-launched the site from the ground.

New design, new content, new facilities.

The impact of the Harmonized Sales Tax (HST) on Ontario and B.C. property and casualty insurers' reserves in 2009 -- estimated to be $268 million -- is equivalent to that of a large catastrophic loss, according to the Insurance Bureau of Canada (IBC).
Barbara Sulzenko-Laurie, IBC's vice president of policy, noted the effects of the HST in slides she presented at the 2010 Swiss Re Breakfast in Toronto.
Her remarks were part of a wide-ranging discussion on the broader state of the Canadian P&C insurance industry in 2009.
One IBC slide showed a number of projected effects of the HST on Ontario and B.C. insurers between 2010 and 2015.
For example, retail sales tax (RST) on claims and operating costs for Ontario and B.C. insurers in 2010 is projected to total $436 million.
But add an additional $34 million in operating expenses due to the HST, as well as an extra $83 million in claims costs due to the HST, IBC figures show.

A continuing increase in the number and costs of claims, a decline in investment income and the anticipated affect of the harmonized sales tax have all caused the Lawyers' Professional Indemnity Company (LAWPRO) to increase its base premium for next year, according to LAWPRO.
Ontario lawyers will pay a base premium of Cdn$2,950 per lawyer for professional liability insurance in 2010, compared to Cdn$2,450 in 2009, according to a LAWPRO release.
Many lawyers will pay significantly less than this base premium, with some paying as little as Cdn$1,595, depending on practice and coverage options selected.
The Cdn$500 increase includes Cdn$200 related to claims development, Cdn$150 decline in investment income and Cdn$150 additional annual cost for HST, LAWPRO notes.

B.C. reintroduces amendments to Insurance Act

Sixteen months after it shelved Bill 40, an act to amend B.C.'s dated Insurance Act, the B.C. legislature is now pressing ahead with insurance reform in Bill 6, the Insurance Amendment Act, 2009, introduced on Sept. 15, 2009.
"The proposed amendments will improve coverage for consumers, ensure better access to documents, and enhance dispute-resolution mechanisms," B.C. Finance Minister Colin Hansen said in a press release. "They are the result of ongoing review and consultation with consumers, insurance companies, insurance brokers and members of the legal community."

Despite the fact that capacity in the U.S. commercial insurance market is drying up, the market remains competitive, according to the Risk and Insurance Management Society (RIMS)'s 2009 Q2 Benchmark Survey.
The survey was produced by Advisen Ltd. It is based on policy renewal prices as reported by North American corporate risk managers.
The survey found commercial rates continue to drift downward despite the loss of US$81 billion in policyholders' surplus in 2008, a joint RIMS and Advisen release says.
Policyholders' surplus is a measure of insurance capacity. As surplus falls, the "supply" of insurance also decreases. Experts attribute the deteriorating investment markets as the principal cause in the decline in policyholders' surplus.
"Insurance capacity is disappearing at a startling rate, but the market nonetheless remains competitive," said David Bradford, executive vice president of Advisen Ltd. and editor-in-chief of the Benchmark Survey.

Hard Market Not Imminent: CIAB

The much-anticipated hard market in commercial lines is taking its time to develop, as rates for U.S. commercial property/casualty premiums idled during the second quarter of the year, according to The Council of Insurance Agents & Brokers' (CIAB) quarterly Commercial P/C Market Index Survey.
"We saw no significant change in pricing trends from the first quarter to the second quarter," CIAB president Ken A. Crerar said in a release. "If a hard market is coming, it's up the road a bit. The pricing appears to be more a result of the weak economy than capacity."
Overall rate declines for small, medium and large accounts were fairly consistent, including decreases in the first quarter of the year, according to the CIAB.
Average commercial rates in the United States declined 4.9% in 2009 Q2, compared to a 5.1% decline in Q1.

New VOC regulations published

The government of Canada has published the regulations surrounding low-Volatile Organic Compound (VOC) automotive refinishing products.
The regulations introduce VOC concentration limits for 14 categories of coatings and surface cleaners, which are used for refinishing or repairing the painted surfaces of automobiles, trucks, and other mobile equipment, according to Environment Canada's Web site.
The regulations will come into force on June 18, 2010 -- one year after the regulations were registered -- to allow for a transition period for automotive and refinishing product manufacturers and importers, according to Volatile Organic Compound (VOC) Concentration Limits for Automotive Refinishing Products Regulations.

Yinac Insurance Center has a plan of renovation

OK. It is clear that our site will have a big plan to make a renovation.

The whole site will be changed to implement Web 2.0 tech as an insurance site.

We have Blog, Insurance News, Insurance Terms, Insurance Directory for brokers. We are also promote good insurance products to our users.

It is under development right now. The release day is August 1st.

The Royal Canadian Mint intends to file a claim under its all risks insurance policy to offset approximately Cdn$15.3 million worth of unreconciled gold.
The Mint commissioned Deloitte and Touche to conduct an audit to determine if the unreconciled difference in gold was the result of an accounting or transaction recording error.
The report concluded: "[T]he unaccounted-for difference in gold does not appear to relate to an accounting error in the reconciliation process, an accounting error in the physical stock count schedules or an accounting error in the recordkeeping of transactions during the year."
The Mint has requested the assistance of the RCMP to investigate the matter.