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Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker

May 24, 2017 Jason Contant, Online Editor

The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and

News InsuranceLegalLegislation / RegulationPersonal Lines

ICLR report examines legal tools to mandate stormwater management on the part of homeowners

May 24, 2017 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction released Tuesday a report intended as an “initial discussion paper” on the issue of mandating flood risk reduction measures on the part of private property owners. The report – Assessing local mandatory measures to

News CatastrophesInsurancePersonal Lines

Ottawa sends military aid to help displaced residents of flooded N.L. town

May 24, 2017 The Canadian Press

HAPPY VALLEY-GOOSE BAY, N.L. – Ottawa is sending military assistance to help the displaced residents of a flood-ravaged town in central Labrador. Public Safety Minister Ralph Goodale says the federal government is stepping in to respond to the severe flooding

News InsuranceLegalLegislation / RegulationPersonal Lines

Criminal Code changes proposing mandatory alcohol screening of drivers tabled for second reading

May 24, 2017 by Canadian Underwriter

The federal government is aiming to remove the “bolus drinking” loophole with amendments to the Criminal Code provisions on impaired driving, Attorney General of Canada Jody Wilson-Raybould suggested Friday on Parliament Hill. If Bill C-46 is passed into law, Canadian

News CatastrophesInsurancePersonal Lines

High winds add to flooding fears as storm approaches southern B.C.

May 23, 2017 The Canadian Press

VANCOUVER – Flood-weary regions of British Columbia’s southern Interior are bracing for another battering, this time from high winds. Environment Canada has issued special weather statements for parts of Vancouver Island, Metro Vancouver and most of the southern Interior, including

News CatastrophesInsurancePersonal Lines

PERILS discloses second loss estimate of 249 million euros for windstorm Thomas

May 23, 2017 by Canadian Underwriter

PERILS AG has disclosed a second loss estimate for windstorm Thomas of 249 million euros, up from its initial loss estimate of 213 million euros on April 6. Windstorm Thomas, also known as Doris, affected the British Isles, Netherlands, Belgium

News CatastrophesInsurancePersonal Lines

Tornadoes suspected in violent N.B. storm: ‘It came without any notice’

May 19, 2017 The Canadian Press

SHIPPAGAN, N.B. – Authorities suspect a violent storm that hit New Brunswick suddenly late Thursday, ripping roofs apart and pulling down utility poles, may have been powered by tornadoes. “They were expecting some thundershowers, but nothing of that magnitude so

News InsuranceLegalPersonal Lines

IBC, Edmonton Police Service and RCMP join forces on campaign about rising auto theft rates in Edmonton

May 19, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC), Edmonton Police Service (EPS) and the RCMP are partnering to launch an educational campaign on rising auto theft rates in Edmonton. The campaign, titled Lock Out Auto Theft, consists of a website, social media

News CatastrophesCommercial LinesInsurancePersonal LinesTechnology

Technology advances to change insurance value chain, offers chance to reboot

May 19, 2017 by Angela Stelmakowich

Technology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new

News CatastrophesCommercial LinesInsurancePersonal Lines

Quebec announces increase in financial assistance for flood victims

May 18, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – The amount of financial assistance available for people dealing specifically with the aftermath of heavy flooding this year has been topped up, the Quebec government announced Wednesday. Premier Philippe Couillard told a news conference the province’s preliminary estimates

News InsuranceMarkets / CoveragesPersonal LinesTechnology

Autonomous vehicles will shrink U.S. auto OEM collision repair revenue by 48% by 2030: KPMG

May 18, 2017 by Canadian Underwriter

Original equipment manufacturers (OEMs) in the United States will see a 48% dent in their lucrative collision parts business as a result of self-driving cars, a new report from audit, tax and advisory firm KPMG. The report Will autonomous vehicles

News InsuranceLegalMarkets / CoveragesPersonal Lines

Mexican resort can be sued in Alberta by tourist alleged to have accidentally ingested cleaning fluid in hotel room

May 18, 2017 by Canadian Underwriter

A lawsuit against a Mexican vacation resort – arising from a tourist alleged to have accidentally ingested cleaning product stored in a water bottle in a mini bar fridge – can proceed in Alberta, as a result of a ruling