Topic
Insurance
Industry to benefit from B.C.’s dismantling of HST, but may pay more tax in Quebec and Manitoba
April 19, 2012 by Canadian UnderwriterB.C.’s “de-harmonization” of its Harmonized Sales Tax (HST), effective Apr. 1, 2013, could mean Canada’s property and casualty industry stands to benefit approximately $31 million by the tax’s removal. But tax policies in Quebec and Manitoba may end up erasing…
Earthquake models show “blind spots” on tsunami and contingent business interruption losses
April 19, 2012 by Canadian UnderwriterEarthquake models generally did a good job estimating the property and building damage due to the seismic shocks arising from earthquakes in 2010-11, but “blind spots” included loss estimates related to tsunamis and contingent business interruption. Erdem Karaca, vice president…
SGI’s 2011 results reflect “challenging year”
April 19, 2012 by Canadian UnderwriterSGI Canada reported record net storm claims costs of more than $32 million in 2011, according to the company’s annual report released Apr. 17. The competitive arm of Saskatchewan General Insurance (SGI), SGI Canada said that a “high number of…
Sales tax on insurance will hit Manitoba consumers: IBC
April 19, 2012 by Canadian UnderwriterA new 7% retail sales tax on home, business and auto insurance is an unfair burden on Manitoba consumers, according to Insurance Bureau of Canada (IBC). The tax, introduced in the Manitoba provincial budget Apr. 17, will be added to…
New Brunswick’s insurance industry contributes $781.2 million to the provincial economy
April 19, 2012 by Canadian UnderwriterThe Conference Board of Canada estimates New Brunswick’s insurance industry contributed $781.2 million in direct and spin-off effects to the provincial economy in 2010. So says INSURECONOMY, an economic impact and future growth study released Apr. 19 that summarizes separate…
WINMAR Announces New Opening in Prince George, British Columbia
April 19, 2012 WINMARLONDON, ON – WINMAR Franchise Corp. in London ON is pleased to announce the opening of its newest location Prince George, British Columbia, Owned and operated by Jon and Lana Schulli. WINMAR is located at 6-3939 22nd Ave, Prince George,…
Lanark Mutual Insurance Company Chooses Brovada for Broker Connectivity
April 19, 2012 Brovada Technologies Inc.Toronto, ON – Lanark Mutual Insurance Company has chosen Brovada’s NexExchange and NexCenter product suites to provide real-time inquiry and new business upload capabilities to their brokers. “We are excited to be taking cutting edge steps towards real-time transactions for…
Kent & Essex Brings Inquiry to their Brokers – Brovadas NexExchange Provides Real-Time Solution
April 19, 2012 Brovada Technologies Inc.Toronto, ON – Kent & Essex Mutual Insurance Company has started its roll-out of Brovada’s real-time inquiry solution allowing brokers to request policy, billing, and claims inquiries for all lines of business. “We’re excited to equip our brokers with leading-edge…
Willis to study how U.S. companies respond to federal guidance around cyber attacks
April 18, 2012 by Canadian UnderwriterWillis Group Holdings is looking to get a fix on how U.S. companies are responding to federal guidance around cyber attacks, information that can be used by an organization to better assess risk at the macro level and see how…
Nova Scotia launches first part of auto reforms
April 18, 2012 by Canadian UnderwriterDrivers in Nova Scotia are now receiving enhanced medical benefits and will not face premium increases if they cover damage costs from car accidents themselves. The reforms, introduced Apr. 1 as part of the first phase of “fair auto insurance…
IBC applauds B.C. Limitation Act
April 18, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) supports British Columbia’s proposed legislation that will limit civil actions in the province. B.C.’s Bill 34, the Limitation Act, was tabled in the provincial legislature earlier this week. It simplifies the limits for filing civil…
IBC recognizes National Volunteer Week
April 18, 2012 by Canadian UnderwriterAs Canadians mark National Volunteer Week, the Insurance Bureau of Canada (IBC) is reminding individuals and organizations alike that the specific type and amount of insurance will depend on how, when and where volunteers do their work for these organizations.…