Texas’s third major hail storm in less than a month on Apr. 11 could push the state’s damage so far this year to beyond the nine-year average of US$1.2 billion for the whole of the United States, notes a report…
The first fully autonomous cars could be in showrooms in a few years, attendees to the Young Insurance Professionals of Toronto (YIPT) second annual Speaker Panel Series heard last week. “You will see the first fully autonomous cars in showrooms…
With the number of disruptors entering the insurance industry, personal lines insurance is set to undergo a dramatic transformation, but will likely not disappear altogether, speakers suggested Thursday at the 2016 CIP Society Symposium. Catherine Kargas (picture below right), vice…
A catastrophic earthquake could threaten Canada’s property and casualty industry, clearly illustrating the need to have in place a government backstop, Sylvie Paquette, chair of the Board of Directors for Insurance Bureau of Canada (IBC), said following IBC’s Annual General…
No country offering flood protection has got things “100% right,” but Insurance Bureau of Canada (IBC) will continue to refine its proposal for a national flood strategy that ensures all areas, even high-risk areas, are covered and that works for…
Collaboration and consistency among Canada’s property and casualty insurers will be key as the industry looks to tackle top-of-mind issues – like the sharing economy and overland flood – in a rapidly changing and increasingly complex environment, Sylvie Paquette, chair…
An international capital standard for global systemically important insurers is “probably not going to have much of an impact on the Canadian p&c industry,” an official with the Office of the Superintendent of Financial Institutions suggested recently, but Canadian insurers…
When a 15% retail sales tax on property and casualty insurance policies takes effect this July in Newfoundland and Labrador, that province will have the highest taxes on insurance premiums in Canada, an Insurance Bureau of Canada official suggests. The…
Many states in the United States face risks from earthquakes, yet only about 10% of surveyed homeowners on the West Coast have purchased related coverage, reports the Insurance Information Institute (III). Recent earthquakes in Ecuador and Japan serve as a…
Leaders of the United Nations, the World Bank Group and the global insurance industry on Monday announced the formation of the Insurance Development Forum (IDF), which occurred at a high level meeting in Washington, DC, last week. The IDF has…
The Toronto Insurance Conference (TIC) is now accepting applications for the fourth year of its university scholarships program. Founded in 2013 and managed by the Insurance Institute of Ontario, the TIC Scholarships Program offers financial assistance for up to three…
Canadians are wary of driverless cars, with nearly two-thirds saying they would not trust a vehicle to drive itself while they are in it, according to new research released on Monday by the Canadian Automobile Association (CAA). CAA said that…