A controversial private member’s bill designed to prevent insurers from using granulated geographical areas for underwriting auto insurance was defeated in second reading in Ontario’s provincial legislature on June 7. Bill 45, brought forward by Brampton NDP MPP Jagmeet Singh,…
Allstate Insurance Company of Canada today presented The Salvation Army with a $10,000 cheque in support of efforts to assist residents affected by flooding in Thunder Bay, Ontario. “This is a difficult time for the community, and we wanted to…
Insurance rates for businesses are still firming in the United States, with premiums increasing on average by 4% in May compared to the same month last year, according to an electronic insurance exchange and market reporting firm. MarketScout recently reported…
A comparatively benign year so far for natural disasters has bolstered the capital levels of reinsurers, allowing for “moderate pricing trends” in mid-year reinsurance renewals, according to a recent report by reinsurance broker Guy Carpenter. “Relatively light catastrophe loss activity…
The city of Thunder Bay is the target of a class-action lawsuit by a law firm alleging that recent flooding in the region was foreseeable and predictable. Watkins Law Professional Corporation filed the lawsuit on behalf of city residents hit…
The Ontario Superior Court has found that a plaintiff injured in an auto accident “rushed” to trial before full recovery from two shoulder surgeries and therefore has not met the threshold for a permanent serious impairment. In Iannarella v. Corbett,…
The Economical Insurance Group has announced its “Straight Through Processing,” allowing brokers to begin and issue new business or make policy changes in real-time using Power Broker, Applied Systems TAM and and SigXP broker management systems. “These enhancements bring us…
Environment Canada reports two tornadoes touched down near Taber, Alberta, almost three hours southeast of Calgary, as part of a storm system passing through Alberta on June 7. There were no reports of injuries and a few barns were reported…
Two of Canada’s independent medical evaluation (IME) companies have come together to become Cira Medical Services Inc. The rebranded company offers the combined strengths of the client-focused operations, Riverfront Medical Services and Medisys IMA. “We felt that the best way…
Canadian consumers identified fast claims processing as the most-valued feature when dealing with insurance companies, note new findings from InsurEye Inc. To get a fix on what consumers value most in their insurance providers, the study analyzes 600-plus consumer reviews…
Marsh has introduced an insurance product to help companies manage the risks associated with cloud computing. Called CloudProtect, the endorsement protects against first-party losses stemming from a cloud service provider’s failure. The customized risk transfer solution was developed “in conjunction…
A.M. Best Co. has confirmed the financial strength ratings of A (Excellent) and issuer credit ratings (ICR) of “a+” of Aviva Insurance Company of Canada and its affiliates. The ratings remain under review in light of the recent executive changes…