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Personal Lines

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B.C. directs ICBC to conduct review of insurance rates, approve Basic rate increase of no more than 4.9%

December 20, 2016 by Canadian Underwriter

The province of British Columbia has directed the Insurance Corporation of British Columbia’s (ICBC) board to commission a comprehensive, independent third-party review to look at a range of options and make recommendations that will “keep insurance rates affordable and align

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B.C. transportation ministry to use helicopter to clear Vancouver-area bridge cables of snow

December 19, 2016 by Canadian Underwriter

British Columbia’s Ministry of Transportation and Infrastructure announced on Friday that it will use a heavy-lift helicopter to clear cables on the Alex Fraser bridge of ice and snow. Over the past couple of weeks, chunks of ice were reported

News Earnings / RatingsInsurancePersonal LinesTechnology

U.S. personal auto industry showing signs of weakening underwriting and operating ratios: A.M. Best

December 19, 2016 by Canadian Underwriter

The personal automobile insurance industry in the United States is exhibiting signs of weakening underwriting and operating results, mainly driven by rising loss ratios, according to a new A.M. Best special report. A.M. Best reached this conclusion in its report,

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Manitoba Public Utilities Board approves 3.7% “over-all” general rate increase for Basic compulsory motor vehicle premiums

December 19, 2016 by Canadian Underwriter

The Manitoba Public Utilities Board (PUB) announced on Friday that it has approved a 3.7% “over-all” general rate increase for Basic compulsory motor vehicle premiums in the province, effective March 1, 2017. “The Board found that on the evidence before

Oneida Nation Fire 20161215
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Minister pledges aboriginal housing improvements after fatal Ontario fire

December 19, 2016 Mike Blanchfield and Jim Bronskill - THE CANADIAN PRESS

OTTAWA – The federal government is determined to improve aboriginal housing, Indigenous Affairs Minister Carolyn Bennett said Friday after an Ontario chief blasted Ottawa for a lack of action following a deadly blaze that killed a family of five. The

River Flood
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Flood insurance ‘must be affordable:’ IBAC

December 16, 2016 by Canadian Underwriter

Residential flood insurance should be available and affordable and the government should provide a backstop without being an “insurer of first resort,” the Insurance Brokers Association of Canada said in a document released this week. Personal flood insurance “must be

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Motorists’ oral drug testing trial to ‘help establish possible future operating procedures:’ Public Safety Canada

December 16, 2016 by Canadian Underwriter

In a pilot project involving anonymous volunteers, several police departments across Canada will start using oral fluid screening devices to test drivers for drugs such as marijuana and cocaine, the federal government announced Wednesday. “None of the results from the

In this photo taken Tuesday, Dec. 13, 2016, an Uber driverless car is displayed in a garage in San Francisco. Uber is bringing a small number of self-driving cars to its ride-hailing service in San Francisco - a move likely to both excite the city's tech-savvy population and spark a conflict with California regulators. The Wednesday, Dec. 14, launch in Uber's hometown expands a public pilot program the company started in Pittsburgh in September. (AP Photo/Eric Risberg)
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California, Uber in legal showdown over self-driving cars

December 15, 2016 Justin Pritchard and Michael Liedtke - THE ASSOCIATED PRESS

SAN FRANCISCO – Uber is riding its self-driving cars into a legal showdown with California regulators. The ride-hailing company is refusing to obey demands by the state’s Department of Motor Vehicles that it immediately stop picking up San Francisco passengers

APTOPIX Japan Earthquake
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Total economic losses from nat, man-made disasters in 2016 at least US$158 billion: Swiss Re sigma estimate

December 15, 2016 by Canadian Underwriter

Total economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total

APTOPIX Southern Wildfires
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In Tennessee wildfires, officials estimate $500M in damage

December 14, 2016 Jonathan Mattise - THE ASSOCIATED PRESS

NASHVILLE – Deadly wildfires caused more than $500 million in damage as they tore through a tourism community in the foothills of the Great Smoky Mountains and killed 14 people, local officials estimated Tuesday. Sevier County Mayor Larry Waters put

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New Brunswick government recommends winter tires but won’t make them mandatory

December 14, 2016 Kevin Bissett - THE CANADIAN PRESS

FREDERICTON – New Brunswick is resisting renewed calls to make snow tires mandatory, as provinces across the country take different legislative approaches to the annual slip and slide of winter driving. Green Leader David Coon says, just like seatbelts, mandatory

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U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks

December 14, 2016 by Canadian Underwriter

Ratings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained