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

May 19, 2017 by 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 Commercial LinesInsuranceMarkets / CoveragesTechnology

“Slow but steady” trend in take-up rates among U.S. cyber insurance clients: Council of Insurance Agents & Brokers

May 19, 2017 by Canadian Underwriter

There is a “slow but steady” trend in take-up rates among cyber insurance clients and prices continue to stabilize, according to a recent survey from the Council of Insurance Agents & Brokers (CIAB) in Washington, DC. When it comes to

News InsuranceMarkets / Coverages

Nuclear energy producers, alcohol manufacturers excluded from new AIG mutual fund

May 19, 2017 by Canadian Underwriter

Investors wanting to keep their money out of nuclear energy, the arms industry or alcohol manufacturers are being targetted by American International Group Inc., which announced Thursday it is marketing a new dividend mutual fund. New York City-based AIG announced

News CatastrophesInsuranceMarkets / Coverages

Hurricanes and typhoons could be monitored from hundreds of miles away, possibly leading to better forecasts: study

May 19, 2017 by Canadian Underwriter

Hurricanes and typhoons could be monitored from hundreds of miles away with relatively inexpensive instruments like barometers and anemometers, much like earthquakes are monitored by seismometers, a new study has found. The study, titled Spiral Gravity Waves Radiating from Tropical

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 Climate ChangeCommercial LinesInsuranceLegislation / Regulation

Environment and Climate Change Canada releases technical paper on proposed federal carbon pricing options

May 19, 2017 by Canadian Underwriter

Environment and Climate Change Canada (ECCC) has released a technical paper outlining a proposed federal carbon pricing option for provinces that choose not to have their own system in place in 2018. A backgrounder from ECCC referenced the Pan-Canadian approach

News Commercial LinesInsuranceLegislation / RegulationTechnology

Child restraint systems in commercial aviation should be mandatory: TSB

May 19, 2017 by Canadian Underwriter

The use of child restraint systems should be mandatory on commercial aircraft in Canada, the Transportation Safety Board of Canada reiterated Thursday in a report on an accident that injured 25. No child restraint systems were used (nor were they

News CatastrophesCommercial LinesInsurancePersonal Lines

Quebec announces increase in financial assistance for flood victims

May 18, 2017 by 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

News AssociationsInsuranceProfessional Development

IBAC accepting nominations for 2017 Dale Rempel Award of Excellence

May 18, 2017 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) is now accepting nominations for the 2017 Dale Rempel Award of Excellence. The award, named after the IBAC governor, recognizes and celebrates those who are actively involved in the professional development of property