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Saskatchewan Government Insurance (SGI) is a Canadian insurance company and a Crown corporation wholly owned by the Government of Saskatchewan.SGI's operations consist of the Saskatchewan Auto Fund, the compulsory public auto insurance program for Saskatchewan, and its property and casualty insurance division sells additional automobile and property insurance products in five Canadian ...
Property and casualty guaranty funds step in to pay the covered claims (which would otherwise go partially or entirely unpaid) of policyholders of an insolvent insurer at levels determined by state law. This ensures policyholders and claimants at greatest risk are protected from the most severe consequences of an insurer's failure.
In 2011, SGI acquired all outstanding shares of SGI Japan, Ltd. [12] The same year, the company announced the acquisition of OpenCFD Ltd. [13] In December, the company announced Mark J. Barrenechea's resignation as president, chief executive officer and member of the board of directors. [14] Mark was reported to join Open Text Corporation. [15]
In non-personal injury claims, for instance, a claim for professional negligence against solicitors, the measure of damages will be assessed by the loss suffered by the client due to the negligent act or omission by the solicitor giving rise to the loss. The loss must be reasonably foreseeable and not too remote. Financial losses are usually ...
Liquidated damages, also referred to as liquidated and ascertained damages (LADs), [1] are damages whose amount the parties designate during the formation of a contract [2] for the injured party to collect as compensation upon a specific breach (e.g., late performance). [3]
Whether or not general liability insurance covers construction defects or "faulty workmanship" is a matter of some debate, as some insurers have viewed poor workmanship as a risk that is covered by a surety bond rather than an insurance policy given that a construction professional may have some influence (through attention to detail, skill, and effort) over whether such a defect occurs.