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Insurers warned to brace for more auto change
    Canada’s auto insurance market is going to keep changing unless insurers change the way they think about return on equity, PricewaterhouseCoopers partner Richard Gauthier told delegates at the National Insurance Conference of Canada’s actuarial panel.
    He said such a change is becoming more and more crucial as the industry faces an increasingly volatile marketplace.
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Nova Scotia auto injury award cap challenged
    Nova Scotia’s cap on soft tissue injury awards allows the continuation of the stereotype that sufferers are just making it up, a Dalhousie University researcher said in court as a lawsuit challenging the limit began.
    Professor Dr. Mary Lynch, who is also director of research of the pain management unit of the Queen Elizabeth II Health Sciences Centre in Halifax, testified that allowing victims to be painted with that brush makes the cap unconstitutional.
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Troubled insurer’s sell-off plan leads to analyst’s concern
    American International Group’s plan to quickly sell off a number of “highly attractive” businesses to pay off the US$61bn borrowed so far at ‘disadvantageous’ interest rates from the U.S. Federal Reserve Credit Facility has caused a number of concerns for A.M. Best.
    The businesses are those other than its U.S. p&c and foreign general insurance businesses. ...More

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