Alberta has imposed a fire ban for forested lands over a swath of the province, almost one year after a wildfire levelled a large part of Slave Lake, Alberta. The Slave Lake wildfire on May 14, 2011, still currently under…
A plaintiff does not need to have damages quantified by settlement or judgment before proceeding with an action against his own insurer under the inadequately insured motorist provision of an auto insurance policy, the Ontario Court of Appeal has ruled.…
British Columbia’s public auto insurer will be holding open house sessions on how its premiums should be determined and whether higher-risk drivers should be penalized with higher rates. The public sessions, running across the province from May 22 to June…
Zurich Insurance Group’s general insurance segment reported a $576-million increase in its business operating profit in 2012 Q1, reflecting a lower number of catastrophe events compared to the same period last year. The general insurance segment’s quarterly profit rose from…
Craig Gilmour has been appointed Aon Risk Solutions Canada’s new executive vice president of global/large business. As part of his responsibilities, Gilmour will oversee several groups, including financial services, risk consulting, risk control, real estate and actuarial consulting, as well…
Quebec drivers are happiest with their auto insurance product, while British Columbia drivers are the most critical of theirs, based on a recent online survey conducted by InsurEye. The Canadian company provides online analysis to help buyers manage their insurance.…
B.C. condo unit owners have yet to take a run at challenging the fairness of deductible downloading bylaws of strata corporations, although case law seems aligned for such an opportunity. Krista Prockiw of Alexander Holburn Beaudin & Lang LLP mentioned…
A summary of submissions to the federal government on demutualization shows some important differences in viewpoints on how mutual property and casualty insurers should be allowed to become share companies. The Department of Finance received more than 80 submissions from…
Here’s a quick math question for strata insurance experts: If there is a $50,000 policy deductible for each “occurrence” of illegal drug activity losses, and 29 out of 90 condo units in a single building are damaged because of marijuana…
EGI Financial Holdings Inc.’s net income for Q1 2012 rose 25% over the same period in 2011, largely in response to the numbers of written premiums and investment income. The company witnessed a 42% increase in written premiums in Q1 2012…
British Columbia’s public auto insurer, the Insurance Corporation of B.C. (ICBC), has committed to consulting with the province’s brokers about a proposed shift to risk-based auto insurance pricing. The move represents one peg of ICBC’s much broader plan to modernize…
The auto insurance industry may suffer a steep decline if technology that reduces the frequency and severity of car accidents is widely adopted, concludes a new study by research firm Celent. The research points to four specific types of technology…