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…
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…
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…
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…
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…
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…
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…
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…
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.
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…
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…
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.…