Topic
Associations
Claims adjusters, insurers ramp up resources for Hurricane Sandy
October 29, 2012 by Canadian UnderwriterSeveral independent claims services and restoration companies are ramping up their resources for the inevitable losses to occur from Hurricane Sandy in the eastern United States and Canada. Crawford and Company Canada has said its adjusters in southern Ontario, southern…
New privacy regulation requires “mature” corporate governance: Lawyers
October 25, 2012 by Canadian UnderwriterWith the increase in data flowing over electronic networks, insurance firms need to take heed to a privacy management document released earlier this year by regulators, two lawyers suggested at a recent industry event. A guidance document, titled Getting Accountability…
FSCO head optimistic about auto reform despite break at Queen’s Park
October 24, 2012 by Canadian UnderwriterAlthough the Ontario legislature is prorogued, there is still a possibility that some auto insurance reforms can be implemented, says the head of the province’s financial regulatory body. “I know there has been a lot of angst in the past…
Most British Columbia residents unprepared for earthquake: Survey
October 15, 2012 by Canadian UnderwriterMore than two-thirds of British Columbia respondents to a survey reported they do not have an emergency plan, while the Insurance Bureau of Canada is the presenting sponsor of an earthquake drill, dubbed ShakeOutBC, scheduled Thursday in the province. In…
Preparedness demands leaders who envision big-picture issues
October 1, 2012 by Canadian UnderwriterPreparedness in the event of a catastrophic event could prove the difference between life and death, economic resilience and recovery, Don Forgeron, president and CEO of the Insurance Bureau of Canada, told delegates to the National Insurance Conference of Canada…
Target Fraud
September 30, 2012 Craig HarrisThe insurance industry has organized crime in its crosshairs. There is today a more detailed understanding of the extent of sophisticated fraud rings and how they steal from insurers and their customers. There is also a sense that now is the time for more specific strategies to bolster regulations, cut off the flow of money and punish offenders.
B.C. residents prepare for “ShakeOut” earthquake drills
September 18, 2012 by Canadian UnderwriterB.C. residents have one more month to prepare for The Great British Columbia ShakeOut, a province-wide earthquake preparedness drill. Individuals, families, schools, churches and other groups will “drop, cover and hold on” at 10:18am on Oct. 18 for the drill,…
Damages from most recent Alberta storms total more than $200 million: IBC
September 12, 2012 by Canadian UnderwriterDamages from the two most recent serious storms in Alberta have amounted to more than approximately $200 million, new data from Insurance Bureau of Canada suggests. The larger of the two storms was on Aug. 12, when a severe thunderstorm…
Oil tank spills lead to $78.58 million in claims: IBC
August 31, 2012 by Canadian UnderwriterAn Insurance Bureau of Canada (IBC) study on oil tank spills in Atlantic Canada shows the events prompted $78.58 million in claims for participating insurance companies from 2008 through 2011. In all, there were 663 domestic oil spill insurance claims…
The “price is wrong” for Ontario auto insurance: IBC
August 30, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC)’s public awareness campaign on Ontario auto insurance has listened to disgruntled consumers and now aims to promote understanding of the reasons behind stubbornly high rates. “We wanted to find out what Ontarians were thinking about…
Fake auto insurance appears to be on the rise: police
August 29, 2012 by Canadian UnderwriterRoutine traffic stops by members of the Southern Georgian Bay auxiliary unit of the Ontario Provincial Police (OPP) are revealing an increase in fraudulent insurance documents. “Unsuspecting consumers are being targeted by fake insurance companies selling auto insurance in Ontario,”…
Alberta storm results in estimated insured costs of more than $100 million
August 14, 2012 by Canadian UnderwriterThe preliminary estimate of insured damage for last month’s severe thunderstorm event in and around Edmonton is pegged at more than $100 million, Insurance Bureau of Canada (IBC) reports. Thousands of claims have been filed for damage to homes, cars…