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Two-door, 2000 Honda Civic SiR the most stolen vehicle in 2010: IBC

December 16, 2010 by Canadian Underwriter

The 2000 model of Honda’s two-door Civic SiR was the most stolen vehicle in 2010, according to the Insurance Bureau of Canada (IBC).Each year, IBC releases its Top-10 list of most stolen cars. The remainder of the IBC’s 2010 list

News AssociationsInsurancePersonal Lines

Massive winter storm strands 360 vehicles in Southwestern Ontario

December 14, 2010 by Canadian Underwriter

A massive winter storm stranded more than 360 vehicles on an 80-km stretch of highway between London and Sarnia, Ontario, and Lambton County declared a state of emergency and called in the military for help.The entire southwestern Ontario area has

News AssociationsInsuranceLegalPersonal Lines

IBC applauds feds for auto theft legislation

November 18, 2010 by Canadian Underwriter

Insurance Bureau of Canada (IBC) is applauding the federal government for passing Bill S-9, known as the Tackling Auto Theft and Property Crime Act. “IBC has worked tirelessly with our partners in law enforcement and with key members of Parliament

News AssociationsInsurancePersonal Lines

Canada passes legislation cracking down on auto theft, trafficking in stolen property

November 11, 2010 by Canadian Underwriter

Parliament has passed new legislation aimed at getting tougher on auto theft and trafficking in stolen property such as cars.The legislation is expected to receive Royal Assent imminently.“Auto theft costs Canadians over $1 billion each year and helps make organized

News AssociationsInsurancePersonal Lines

Ontario implements real-time verification of auto insurance at plate renewals

November 11, 2010 by Canadian Underwriter

Ontario’s Ministry of Transportation (MOT) is implementing an electronic verification system that will provide on-the-spot confirmation of insurance when drivers go to renew their licence plate.The Uninsured Vehicles Project (UVP) comes into effect on Nov. 29. It’s a joint initiative

News AssociationsInsurance

OSFI defends as “fair and reasonable” its guideline requiring due diligence on reinsurance contracts

November 5, 2010 by Canadian Underwriter

Canada’s solvency regulator acknowledges its Guideline B-3-Sound Reinsurance Practices and Procedures has “created a lot of stir” within Canada’s reinsurance community because of its insistence that federally regulated insurers perform a sufficient level of due diligence on reinsurance counterparties.But the

News AssociationsInsurance

Companies do not have effective response plans for data breaches: privacy lawyer

November 5, 2010 by Canadian Underwriter

Data protection is increasingly seen as a strategic issue, but most companies do not have an effective incident response plan, Adam Kardash, partner at Heenan Blaikie LLP’s Toronto office, told delegates at the Insurance Bureau of Canada (IBC)’s 10th Annual

News AssociationsInsuranceLegalPersonal Lines

Insurers urged to get written conflict-of-interest statements from law firms and treatment/assessment facilities

October 4, 2010 by Canadian Underwriter

Insurers wishing to expose potential insurance fraud should be getting written conflict-of-interest statements from legal, treatment and assessment facilities, a fraud investigator suggests.Donna Ford, an insurance fraud investigator with Northwood & Associates, addressed the topic of insurance fruad at the

News AssociationsInsurancePersonal Lines

Consumer education urged as auto reforms take effect

September 1, 2010 by Canadian Underwriter

Ontario’s auto insurance reforms took effect on Sept. 1, and government and insurance industry groups are encouraging consumers to educate themselves about the new regime.The reforms change the standard, mandatory auto insurance benefits package so that medical, rehabilitation and attendant

News AssociationsInsuranceLegalPersonal Lines

NB’s minor injury cap should be adjusted for inflation: Progressive Conservatives

August 26, 2010 by Canadian Underwriter

Should New Brunswick elect a Progressive Conservative government in the coming provincial election, the Insurance Bureau of Canada (IBC) will work with the newly elected government should it fulfill its election promise to review the province’s minor injury cap. IBC

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Citizen’s Group calls on New Brunswick to review minor injury cap

August 11, 2010 by Canadian Underwriter

A citizen’s group is calling on the New Brunswick government to review its $2,500 cap on insurance payments for minor injuries in auto collisions, Canadian Press reports.The news agency cites Frances McConnachie of Consumers for Insurance Fairness saying the cap

News AssociationsInsurancePersonal Lines

Alberta hailstorm causes record-setting $400 million in insured damages

August 11, 2010 by Canadian Underwriter

Alberta’s July 12 hailstorm caused a record-setting $400 million in insured damages, the Insurance Bureau of Canada reports, citing data from PCS-Canada. The amount establishes a new record for insured hailstorm damage in Canada.The previous record was set in Calgary