Topic
Associations
IBC launches consumer awareness campaign around Ontario auto
July 26, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has launched a new consumer awareness campaign to stimulate stakeholder feedback on how best to bring down auto insurance rates in Ontario and to help consumers better understand their own insurance policies. The campaign will…
Oliver Wyman, IBC each recommend a double-digit industry-wide adjustment to the Alberta Automobile Insurance Rate Board (AIRB)
June 14, 2012 by Canadian UnderwriterCLARIFICATION: Canadian Underwriter initially reported on June 14 that Oilver Wyman suggested a 4.7% rate adjustment in 2011. In fact, Oliver Wyman recommended a 9% adjustment in 2011. In its final decision on an industry wide adjustment in 2011, the…
IBC accuses critics of proposed CAT definition of “fear-mongering”
June 12, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) laid down the gauntlet against critics of the province’s recommended catastrophic (CAT) impairment definition, accusing them on June 12 of “fear-mongering.” IBC responded quickly to a media campaign mounted by trial lawyers and medical and…
Trial lawyers and rehab groups speak out against recommended catastrophic impairment definition
June 12, 2012 by Canadian UnderwriterThe Ontario Trial Lawyers Association (OTLA) and Alliance of Community Medical and Rehabilitation Providers are launching a media campaign against proposed changes to the definition of a catastrophic impairment for victims injured in car accidents. Currently, accident victims who are…
IBC-commissioned research points to warmer temperatures, more wildfires and more intense storms in Canada by 2050
June 4, 2012 by Canadian UnderwriterCanada can expect to see warmer temperatures in the summer months by 2050, leading to an increase in wildfires, drought, water scarcity, lightning flash density and the risk of hailstorms. Parts of the country will see more intense winter storms,…
Rain barrels offer old-fashioned solution to avoiding water damage
June 1, 2012 by Canadian UnderwriterA new study released June 1 by Insurance Bureau of Canada (IBC) and Wingham, Ontario concludes the humble rain barrel offers an old-fashioned solution to keeping home water damage down. The Wingham Rain Barrel Study began with 1,000 rain barrels,…
IBC deploys CAMP to Thunder Bay
May 31, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has deployed its Community Assistance Mobile Pavillion (CAMP) to Thunder Bay after the city was swamped by 91 mm of rain in just 18 hours. CAMP is a national program that provides disaster victims with…
Canada’s climate change likely greater than global average: IBC research
May 30, 2012 by Canadian UnderwriterCanada will be on the front lines of temperature changes associated with global warming, with much warmer winters and warmer summers, according to a new research report commissioned by the Insurance Bureau of Canada (IBC). Key findings of the report,…
Claims costs for Ontario auto insurers “still out of control”: IBC
May 28, 2012 by Canadian UnderwriterClaims costs for Ontario auto insurers remain high despite the gains realized as a result of the provincial reforms in 2010, notes the Insurance Bureau of Canada’s (IBC) submission to the Ontario Committee Hearings on Auto Insurance on May 28.…
Recruiter in staged collision ring sentenced to three-and-a-half years in jail, ordered to pay $375,000 in restitution
May 24, 2012 by Canadian UnderwriterA man personally involved in more than 12 staged auto collisions received a three-and-a-half-year prison term and a freestanding restitution order for $375,000 for his participation in a staged collision ring. Uthayakanthan Thirunavukkarasu, also known as Max or Mano, entered…
NDP bill would ban territory as auto insurance rating factor
May 23, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) is urging Ontario MPPs to vote down an NDP private member’s bill that would ban the use of territory as a rating factor in auto insurance. Any reduction in premiums for constituents in some areas…
Alberta imposes broad wildfire ban
May 15, 2012 by Canadian UnderwriterAlberta 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…