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50th anniversary of Great Alaskan Earthquake a reminder of current risk: IBC

March 28, 2014 by Canadian Underwriter

The 50th anniversary of the Great Alaskan Earthquake this week highlights the current risk faced in Canada and worldwide of a catastrophic earthquake, the Insurance Bureau of Canada said Friday. The three-minute earthquake triggered a tsunami, causing ground fissures and collapsing

News AssociationsClimate ChangeInsuranceMergers and Aqcuisitions

Water not as well-understood as other perils, more work needed to pinpoint risk

March 21, 2014 Angela Stelmakowich, Editor

Humans are drawn to water – congregating around it as they do for matters of life, preference and commerce – but it is a peril that routinely causes considerable damage and is not nearly as well-understood as other perils, says

News AssociationsInsuranceLegal

IBC, Canadian Trucking Alliance expand cargo theft reporting initiative across Canada

March 18, 2014 by Canadian Underwriter

The Insurance Bureau of Canada and Canadian Trucking Alliance are expanding the current Cargo Theft Reporting pilot program across the country in an effort to allow the trucking community, insurers and the authorities to better share timely information to help

News AssociationsCatastrophesInsuranceMergers and Aqcuisitions

B.C. government launches public consultation on earthquake preparation

March 12, 2014 by Canadian Underwriter

In an announcement praised by the Insurance Bureau of Canada, the British Columbia government said Tuesday it plans to invite input from stakeholders on how the province can better prepare for a catastrophic seismic event. “This emergency management consultation regarding

News AssociationsInsuranceLegalMergers and Aqcuisitions

Ontario NDP slams changes to auto insurance attendant care benefits

March 7, 2014 by Canadian Underwriter

New changes to the standard Ontario auto insurance policy were characterized this week as “mean spirited” by the New Democratic Party’s consumer services critic, though the Insurance Bureau of Canada suggests that one amendment that took effect Feb. 1 did

News AssociationsClimate ChangeInsuranceMergers and Aqcuisitions

IBC pleased with Alberta government move to earmark funds for flood mitigation

March 7, 2014 by Canadian Underwriter

The Insurance Bureau of Canada said Friday it supports the Alberta government’s budget’s move to earmark $1.5 billion for flood mitigation and recovert programs in the province over the next three years. The budget calls for $700 million for future flood

News AssociationsInsuranceLegalMergers and Aqcuisitions

Toronto rehab clinic ordered to pay $75,000 in fines in auto insurance fraud case

March 6, 2014 by Canadian Underwriter

A Toronto clinic has been ordered to pay $75,000 in fines this week, after its principals pleaded guilty to engaging in unfair or deceptive acts or practices in the business of insurance related to auto insurance fraud, the Insurance Bureau of

News AssociationsInsuranceLegalMergers and Aqcuisitions

Ontario government plans to move auto insurance dispute resolution system out of FSCO

March 4, 2014 by Canadian Underwriter

The Ontario government is introducing legislation that would move administration of the current dispute resolution system for auto insurance claims from the Financial Services Commission of Ontario to the Ministry of the Attorney General’s Licence Appeal Tribunal. In an announcement

Gregor Robinson, Senior Vice President, Policy & Chief Economist, Insurance Bureau of Canada
Feature AssociationsCatastrophes

Preparing for Disaster

March 1, 2014 Gregor Robinson, Senior Vice President, Policy & Chief Economist, Insurance Bureau of Canada

Understanding insurance industry conditions today can help Canada be better prepared moving forward. The cost of natural disaster is rising as the global risk landscape evolves. Policy-makers must re-evaluate how they mitigate the financial impact of disasters.

News AssociationsCatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Insurance Institute to hold National Education Week, offer weather preparedness seminars

February 21, 2014 by Canadian Underwriter

The Insurance Institute of Canada will be celebrating National Education Week from Feb 24 to 28, with regional chapters holding professional development events for industry professional. Events and seminars hosted across Canada on topics specific to the insurance industry, as

News AssociationsCatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Federal proposals for residential flood insurance, disaster mitigation get kudos from Insurance Bureau

February 12, 2014 by Canadian Underwriter

The federal government’s announcement Tuesday that it plans to consult with the industry for a “national approach to residential flood insurance” and to start funding projects such as flood control infrastructure in 2015, has been well received by the Insurance

News AssociationsInsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Ontario auto one factor in State Farm’s sale to Desjardins, industry CEO suggests

January 24, 2014 Greg Meckbach, Associate Editor

The Ontario government’s stance on auto insurance continues to inject uncertainty into the market and is one reason State Farm agreed to sell its Canadian operations to Desjardins Group, according to speakers at Thursday’s P&C Crystal Ball conference in Toronto.