News

The New Brunswick government has proposed a change to the province’s Motor Vehicle Act that would lift the ban on night driving for new drivers. The change, introduced to the legislative assembly Wednesday, would amend the act so that new…

Impact Auto Auctions has opened a new location in Oshawa, Ont., increasing the company’s Greater Toronto Area storage capacity and overall presence. The new Impact Toronto location has 37 acres of vehicle storage and a 12,000 square foot office, auction…

RIMS has launched a new guidebook for organizations to better understand and implement strategic risk management practices. The RIMS Strategic Risk Management Implementation Guide aims to give organizations an inside look at how some worldwide organizations have developed a balanced…

The Insurance Bureau of Canada (IBC) has reported the preliminary estimate for insured losses in Canada from “superstorm” Sandy at about $100 million. The estimate comes from Property Claim Services Canada (PCS-Canada), a service that tracks insured losses arising from…

The Insurance Institute has completed its third research report on the industry’s workforce issues, set to be released in January 2013. Read more about the Insurance Institute’s demographic studies here.  A Demographic Analysis of the P&C Insurance Industry in Canada…

The Greater Toronto Area (GTA) has the highest collision rate in Ontario, while drivers in the province’s northern region have the fewest collisions, according to a new study from Allstate Canada. As part of its annual Ontario Safe Driving Study,…

The National Insurance Crime Bureau in the U.S. has revised its preliminary estimate of vehicles damaged from “superstorm” Sandy to be 230,000. About 130,000 of those are in New York and 60,000 in New Jersey, according to the NICB. The…

The private equity firm Onex Corporation announced Monday it has agreed to acquire USI, one of the largest insurance brokers in the United States, for US$2.3 billion. The equity investment of approximately $700 million will be made by Onex Partners…

Economical Insurance is anticipating that long-awaited federal regulations governing demutualization in Canada’s property and casualty insurance industry will likely require some level of sharing of demutualization benefits with non-mutual policyholders. “Economical has consistently and forcefully advocated that mutual policyholders, as…

AIR Worldwide has updated its estimates of insured losses from post-tropical cyclone Sandy to between US$16 billion and US$22 billion. The updated estimate is a result of the latest available information on surge height and extent from the U.S. Geological…

CSN Collision & Glass of Toronto announced this week it has entered a “strategic alliance” with Laval, Que.-based Carrossier ProColor to operate a “network” of more than 265 auto collision repair facilities. “A national network of collision repair facilities is…

Toyota’s Prius hybrid-electric vehicle has a very low theft rate in the U.S., according to a recent report from the National Insurance Crime Bureau (NICB). There have been 2,439 Toyota Prii stolen in the U.S. between Sept. 4, 2000 and…