Topic
Associations
Ontario’s proposed towing legislation a good first step: IBC
April 16, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has lent its support to draft legislation tabled by the Ontario government Tuesday meant to combat auto insurance fraud by aiding disclosure and enhancing transparency for consumers requiring towing services. Characterizing the Roadside Assistance…
Then and Now
April 1, 2014 Don Forgeron, President & Chief Executive Officer, Insurance Bureau of CanadaInsurance Bureau of Canada recently hit gold, celebrating its 50th anniversary earlier this year. In looking back, some issues in Canada’s property and casualty industry look familiar, while others do not. Both, however, provide a glimpse of the future and demand sharp alignment with the needs of the insurance industry and consumers.
IBC says weather hit P&C insurers’ results hard in 2013
March 31, 2014 byA turn in the weather last year proved enough to undermine the performance of the insurance industry, Gregor Robinson, senior vice president of policy and chief economist for the Insurance Bureau of Canada (IBC), said during Swiss Re’s 29th Annual…
50th anniversary of Great Alaskan Earthquake a reminder of current risk: IBC
March 28, 2014 by Canadian UnderwriterThe 50th anniversary of the Great Alaskan Earthquake this week highlights the current risk faced in Canada and worldwide of a catastrophic earthquake, the Insurance Bureau of Canada said Friday. The three-minute earthquake triggered a tsunami, causing ground fissures and collapsing…
Water not as well-understood as other perils, more work needed to pinpoint risk
March 21, 2014 Angela Stelmakowich, EditorHumans are drawn to water – congregating around it as they do for matters of life, preference and commerce – but it is a peril that routinely causes considerable damage and is not nearly as well-understood as other perils, says…
IBC, Canadian Trucking Alliance expand cargo theft reporting initiative across Canada
March 18, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada and Canadian Trucking Alliance are expanding the current Cargo Theft Reporting pilot program across the country in an effort to allow the trucking community, insurers and the authorities to better share timely information to help…
B.C. government launches public consultation on earthquake preparation
March 12, 2014 by Canadian UnderwriterIn an announcement praised by the Insurance Bureau of Canada, the British Columbia government said Tuesday it plans to invite input from stakeholders on how the province can better prepare for a catastrophic seismic event. “This emergency management consultation regarding…
Ontario NDP slams changes to auto insurance attendant care benefits
March 7, 2014 by Canadian UnderwriterNew changes to the standard Ontario auto insurance policy were characterized this week as “mean spirited” by the New Democratic Party’s consumer services critic, though the Insurance Bureau of Canada suggests that one amendment that took effect Feb. 1 did…
IBC pleased with Alberta government move to earmark funds for flood mitigation
March 7, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada said Friday it supports the Alberta government’s budget’s move to earmark $1.5 billion for flood mitigation and recovert programs in the province over the next three years. The budget calls for $700 million for future flood…
Toronto rehab clinic ordered to pay $75,000 in fines in auto insurance fraud case
March 6, 2014 by Canadian UnderwriterA Toronto clinic has been ordered to pay $75,000 in fines this week, after its principals pleaded guilty to engaging in unfair or deceptive acts or practices in the business of insurance related to auto insurance fraud, the Insurance Bureau of…
Ontario government plans to move auto insurance dispute resolution system out of FSCO
March 4, 2014 by Canadian UnderwriterThe Ontario government is introducing legislation that would move administration of the current dispute resolution system for auto insurance claims from the Financial Services Commission of Ontario to the Ministry of the Attorney General’s Licence Appeal Tribunal. In an announcement…
Preparing for Disaster
March 1, 2014 Gregor Robinson, Senior Vice President, Policy & Chief Economist, Insurance Bureau of CanadaUnderstanding insurance industry conditions today can help Canada be better prepared moving forward. The cost of natural disaster is rising as the global risk landscape evolves. Policy-makers must re-evaluate how they mitigate the financial impact of disasters.