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Mayor John Tory discusses the future of Uber in the Toronto City Hall Chambers in anticipation for a vote to determining the ridesharing app's future in Toronto on Tuesday, May 3, 2016. THE CANADIAN PRESS/Aaron Vincent Elkaim
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Uber gets green light from city council to operate legally in Toronto

May 4, 2016 by The Canadian Press

TORONTO – Uber is voicing its thanks after Toronto city council gave the ride-hailing service the green light to operate legally in the city. In a message to those who use its app, Uber said Toronto Mayor John Tory and

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Intact reports 0.9 percentage point drop in combined ratio in first quarter of 2016

May 4, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) has reported a 0.9 percentage point drop in its combined ratio for the first quarter of 2016 compared to the same quarter in 2015, led by property lines and improving personal auto results. Toronto-headquartered IFC, the

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An estimated 90% of homes in Fort McMurray, Alta. neighbourhood lost in wildfire

May 4, 2016 by Canadian Underwriter

An estimated 90% of the homes in the Waterways neighbourhood of Fort McMurray, Alta. have been lost as a major wildfire continues to sweep through the town. The Regional Municipality of Wood Buffalo said in a media briefing on Wednesday

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Aon reports 3% organic growth in brokerage revenue

May 4, 2016 by Canadian Underwriter

Aon plc recently reported a 1% drop year-over-year drop in its first-quarter commissions, fees and other revenue from its insurance brokerage business, driven mainly by currency fluctuations. London-based Aon released April 29 its financial results for the three months ending

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DesRosiers says Canadian auto sales set record in April, topped 200,000

May 4, 2016 by The Canadian Press

TORONTO – DesRosiers Automotive Consultants says Canadian monthly auto sales hit a record in April, topping 200,000 for the first time. The automotive consulting firm says sales of cars and light trucks totalled 200,327, up six per cent from 189,072

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Aviva Canada develops insurance product for Quebec ridesharing programs – if province allows them

May 4, 2016 by Canadian Underwriter

Aviva Canada announced on Wednesday that it has developed an “affordable and convenient insurance product that would bridge the insurance gap in Quebec,” if the provincial government decides to allow ridesharing programs. Aviva Canada, a provider of home, automobile, leisure/lifestyle

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Property Claim Services declares two cat events in Canada in Q1 2016

May 4, 2016 by Canadian Underwriter

Property Claim Services (PCS) declared two catastrophe events in Canada in the first quarter of 2016, the first time the company has designated a first-quarter event in the country since 2011. The first event, a winter storm, is still under

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Launch into direct-to-consumer market expected soon, demutualization packages being mailed: Economical Insurance

May 4, 2016 by Canadian Underwriter

Economical Insurance’s “journey towards becoming a strong, Canadian, independent public company is now well under way,” a leg of which will include a strategic expansion into the direct-to-consumer market, president and CEO Karen Gavan said during the mutual’s Annual General

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Multi-billion pound motor insurance industry in the U.K. faces radical restructuring due to autonomous cars

May 3, 2016 by Canadian Underwriter

The multi-billion pound motor insurance industry in the United Kingdom faces a period of radical restructuring as a result of the advent of autonomously driving (AD) cars, with the number of crashes set to dramatically drop and insurance premiums set

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U.S. insurers that lead in digital shopping channels also lead in premium growth: J.D. Power study

May 3, 2016 by Canadian Underwriter

Insurers that lead in digital shopping channels also lead in premium growth, according to the J.D. Power 2016 U.S. Insurance Shopping Study, released on Friday. Now in its 10th year, the study measures auto insurance shopping, purchase behavior and purchase

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AIG reports after-tax operating income of US$773 million in Q1 2016

May 3, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) has reported a slight decrease in its Property Casualty combined ratio in the first quarter of 2016, down from 97.1% in Q1 2015 to 96.9% in the latest quarter. AIG released its financial results on

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VIA Rail safety management system “not yet” fully integrated into corporate risk management system: Auditor General of Canada

May 3, 2016 by Canadian Underwriter

Passenger train operator VIA Rail Canada Inc. has not yet “fully integrated” its safety management system into its corporate risk management system, but the crown corporation has implemented mitigation measures for most of its risks, the Auditor General of Canada