The Insurance Brokers Association of B.C. (IBABC) maintained its support of a ban against credit scoring in a submission to the Canadian Council of Insurance Regulators (CCIR).But if credit scoring is to be allowed, the regulatory framework should follow that…
Speaking about the dangers inherent in a risk-by-risk review of capital charges for property and casualty insurers, the regulatory pendulum in Canada is swinging too far towards the ‘overregulation’ part if the spectrum, according to Canada’s property and casualty insurers…
Evidence suggests auto theft in Canada is being used to fund international terrorist activities, Rick Dubin, vice president of investigative services at the Insurance Bureau of Canada (IBC), told delegates of the National Insurance Conference of Canada (NICC). Although auto…
A tornado that struck Goderich, Ontario in August 2011 caused at least $75 million in insured damage, according to the Insurance Bureau of Canada, citing a preliminary estimate from Property Claim Services Canada (PCS-Canada).Part of a storm front that spawned…
An F-0 tornado touched down in Trois-Rivières, Quebec on Sept 4, damaging more than 70 homes, cbcnews.ca reported. The twister uprooted trees, shattered car windows and damaged roofs when it ripped through the Saint-Therese neighbourhood in the city just after…
Cops and auto insurance claims investigators are warning about the identity theft of doctors, phony airbag deployment and fraudsters taking advantage of small claims settlements that go without investigation.
During Nova Scotia’s review of its provincial auto insurance system, Canada’s insurance industry is walking a metaphorical tightrope through mild tradewinds as it seeks to balance robust benefits with affordable premiums.
An F3 tornado devastated Goderich, Ontario, causing extensive damage, killing one person and injuring 37. On Aug. 21, at approximately 4pm, the tornado touched down packing winds around 280 km-h. It carved a path, roughly 20 kilometres in length and…
The 2011 version of the Canadian Cancer Society’s Relay For Life featured the largest-ever number of insurance industry participants. The relay is a tribute to the lives of loved ones who have been touched by cancer. Teams of 10 people…
The insurance industry is calling for the accreditation and regulation of assessment clinic ownership to help put the brakes on fraudulent accident benefits claims. Fake accident treatment charges are costing insurers roughly $1.3 billion, a recent Toronto Star article says,…
Insured damage caused by wildfires that ravaged much of the town of Slave Lake, Alberta in May has hit the $700-million mark, according to the Insurance Bureau of Canada, citing PCS-Canada data.The makes the Slave Lake wildfire the second-costliest insured…
Ontario auto insurance reforms implemented last year have led to stability in the auto product, the Insurance Bureau of Canada says.“Recent claims that auto insurance rates may be rising dramatically are neither accurate nor supportable,” IBC says. “Ontario’s recent auto…