Topic
Associations
Preliminary insured loss estimate for July GTA floods at $850 million, setting new record for Ontario
August 14, 2013 by Canadian UnderwriterThe severe thunderstorm that caused intense rainfall and flash flooding in the Greater Toronto Area July 8 caused more than $850 million in insured property damage, setting a new record in Ontario history. “While these preliminary estimates are staggering, we…
IBC encourages students to take up tenant insurance when moving away from home
August 13, 2013 by Canadian UnderwriterThe Insurance Bureau of Canada is encouraging students entering college or university to take up a tenant’s policy if they’re planning to move away from home and rent. While some home insurance policies have coverage for personal property while away…
IBC launches database of damaged vehicles from Alberta, GTA floods
August 6, 2013 by Canadian UnderwriterThe Insurance Bureau of Canada has launched a database of vehicles that have been reported and branded as non-repairable after severe flooding in southern Alberta and the Greater Toronto Area. Consumers can enter a vehicle identification number (VIN) on the…
New Alberta policies aim to mitigate future flood damage
July 15, 2013 by Canadian UnderwriterThe Alberta government announced Sunday new policies intended to help residents pay for improvements to protect their homes against future flooding and to relocate to places outside flood fringe zones, as well as stopping future development approvals on floodways and…
P&C industry responds, lends support following train disaster in Quebec
July 11, 2013 by Canadian UnderwriterThe property and casualty industry is lending its support to both search efforts and insurance claims handling following the oil train disaster in Lac-Mégantic, Que., which killed at least 20 people and left dozens still missing. About 30 home and…
Greater Toronto Area recovering after record rainfall, flooding
July 9, 2013 by Canadian UnderwriterThe Toronto area is recovering after experiencing its rainiest day on record Monday, which caused flooding and power outages throughout the city and in other parts of the region. Pearson International Airport reportedly recorded 126 mm of rainfall, beating out…
IBC sets up on-site response following Quebec train disaster
July 8, 2013 by Canadian UnderwriterThe Insurance Bureau of Canada has deployed an on-site response to Saturday’s train explosion disaster in Lac-Mégantic, Que. The IBC’s Community Assistance Mobile Pavilion provides disaster victims with insurance-related information. Most home and auto insurance policies will cover the material…
Ontario regulator launches auto insurance fraud hotline
July 8, 2013 by Canadian UnderwriterThe Financial Services Commission of Ontario has launched a tip line for consumers to report suspected fraud related to auto insurance in the province. Consumers can call 1-855-5TIP-NOW or report through a website, www.fsco.gov.on.ca/TIPNOW. In both cases, they have the…
IBC information centre taking calls about Alberta flood claims
July 4, 2013 by Canadian UnderwriterThe Insurance Bureau of Canada is taking calls through its information centre related to the recent severe flooding in southern Alberta, the organization said Thursday. According to an IBC survey, about 5,000 insurance company personnel have been deployed to work on…
Budget reforms a good first step, but more changes needed to hit Ontario auto premium cut
June 18, 2013 Angela Stelmakowich, EditorIt may be necessary to contemplate additional reforms if the Ontario government expects to be able to soon fulfill its promise to cut insurance premiums by an average of 15%, one industry leader suggests. Ralph Palumbo, vice president for Ontario…
Moves and Views
June 1, 2013 by Canadian Underwriter1 Economical Insurance announced in May that two vice-presidents, Dianna Fioravanti and Scott Campbell, have left the company to “pursue other endeavours.” Fioravanti was vice president of sales, distribution and underwriting operations, while Campbell was vice president for Ontario. Robert…
Canadians unprepared for the effects of severe weather: poll
May 31, 2013 by Canadian UnderwriterThe majority of Canadians are not prepared for the effects of severe weather, according to a national poll conducted by Pollara. Only 8% of respondents believe Canadians in general are very actively preparing for severe weather. Similar numbers say this…