Topic
Associations
Towing firms propose changes to Ontario auto insurance fraud bill
November 13, 2014 by Canadian UnderwriterThe Ontario government is currently working on an omnibus bill intended to reduce auto insurance claims costs, but an executive from one insurer warns of “unintended consequences” if tow trucks are defined as commercial vehicles under provincial law while a…
Toronto man charged after police say fake auto insurance sold, over $1 million in claims paid
November 4, 2014 THE CANADIAN PRESSTORONTO – A 73-year-old Toronto man is facing multiple charges after police say fake auto insurance cards were sold, resulting in insurance claim payouts worth more than $1 million. It is alleged that the suspect was selling counterfeit insurance cards…
Quake Stakes
November 1, 2014 Mary Lou O'Reilly, Senior Vice President, Issues Management and Communications, Insurance Bureau of CanadaExperts agree a big earthquake is coming to Canada. So why are people not getting prepared? Exactly where and when the “big one” will hit can only be surmised, but preparedness has been lackluster for an event that will undoubtedly prove costly for everyone from governments to consumers, insurers and reinsurers.
IBC, Quebec trucking industry group partner to fight cargo theft
October 20, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) and the Association du camionnage du Québec (ACQ) have partnered on a cargo theft reporting program, aimed at tackling what the groups say is a crime that costs Canadians $5 billion per year. The Programme provincial de déclaration…
Cargo theft a hit to Canadian economy, security: fraud forum
September 24, 2014 Angela Stelmakowich, EditorCargo theft is not simply about stolen goods – affecting an individual load or a particular company – but extends beyond that to adversely influence the economy as a whole, Richard Dubin, vice president of investigative services for the Insurance…
15% rate reduction in Ontario auto not doable, IBC exec says
September 23, 2014 Harmeet Singh, Online EditorOTTAWA – The Ontario government’s target of a 15% reduction in auto insurance rates is “absolutely not” doable, the Insurance Bureau of Canada’s vice president of policy development said Tuesday during the National Insurance Conference of Canada. “Absolutely not, and…
Toronto City Council asks province to consider ‘limits’ on property insurance premium increases
August 27, 2014 Greg Meckbach, Associate EditorA motion Tuesday from Toronto City Council, asking the Ontario government to consider regulating property insurance premiums, shows “a lack of understanding” of insurance as a “risk transfer mechanism,” an official with the Insurance Bureau of Canada (IBC) says, while…
Tornado causes $30 million in damages in Angus, Ontario
July 31, 2014 byInsured damage from the tornado that hit Angus, Ont. in late June is at least $30 million, according to the Insurance Bureau of Canada based on preliminary figures from Property Claim Services (PCS). More than 100 homes were damaged from…
Police recover $1.4 million in stolen cargo
July 31, 2014 byA recent police raid helped identify roughly $1.4 million in stolen property from 15 separate cargo load thefts over the past several months, the Insurance Bureau of Canada said July 15. “Multiple search warrants were executed on warehouses in the…
Toronto-area rehab clinic convicted of fraud, fined $200,000 plus restitution
July 23, 2014 by Canadian UnderwriterA Toronto-area rehabilitation clinic has been convicted of several auto insurance fraud-related offences and has been fined $200,000. Ontario Rehab Centre was charged following co-operative investigations involving the Financial Services Commission of Ontario (FSCO), the Insurance Bureau of Canada, multiple…
Edmonton Police recover recreational equipment in false vehicle identification number scheme
July 18, 2014 by Canadian UnderwriterThe Edmonton Police Service (EPS) announced Thursday it has recovered more than $863,000 worth of travel trailers and other allegedly stolen property after an investigation into false vehicle identification numbers, in which the Insurance Bureau of Canada provided help. “Police…
IBC cargo theft reporting database helps police recover $1.4 million in stolen property
July 15, 2014 by Canadian UnderwriterA recent police raid helped identify roughly $1.4 million in stolen property from 15 separate cargo load thefts over the past several months, the Insurance Bureau of Canada said Tuesday. “Multiple search warrants were executed on warehouses in the City…