The Insurance Corporation of British Columbia (ICBC) is appealing a B.C. Supreme Court decision to award a woman Cdn$12.5 million in damages, an ICBC representative has told Canadian Underwriter.After a five-day trial, a jury awarded the insured Cdn$6.5 million in…
Insurance Bureau of Canada (IBC) has approved Cdn$1-million pilot project for a new municipal risk assessment tool that will help insurers assess climate change risks.The new tool is intended to collect key data that will help insurers better understand the…
The Toronto Insurance Womens Association (TIWA) is pleased to name The Insurance Institute of Canada as TIWA Patron of the Year for 2008. With this award, TIWA expresses its gratitude for the valuable contribution made by the Institute to TIWAs…
Edmonton, AB October 29, 2009 SPECS Limited, the countrys leading provider of independent property damage valuations and cost control services has relocated its Ottawa branch office. The move is in response to the strong client demand, an increasing project list,…
The Public Health Agency of Canada has issued travel guidance asking Canadians sick with the H1N1 virus to postpone their travel plans — and has requested that airlines make it easier for travelers to re-book their flights.The airlines have responded…
With the 2010 Olympic and Paralympic Winter Games fast approaching, Insurance Bureau of Canada (IBC) is reminding B.C. homeowners to make sure they are properly insured before renting out their property to visitors.Since last year, IBC has been encouraging B.C.…
Tess Romain has been appointed to Insurance Bureau of Canada (IBC)’s Ontario Division as manager of government relations, effective Nov. 2, 2009.Romain holds plenty of work experience with the Ontario government, specifically in the Minister’s offices of Public Infrastructure Renewal…
Despite signs of an economic recovery, including positive trends in the equity markets and lower credit spreads, Standard & Poor’s (S&P’s) Rating Services remains of the opinion that market conditions will continue to put pressure on its ratings of global…
We are pleased to announce the addition of Mike Kelly to our company. Mike joins our corporate support team as Regional Branch Manager. Prior to joining STRONE, Mike held key management positions within a prominent insurance company. With over 20…
The implementation of the Harmonized Sales Tax (HST) will result in a one-time hit of $250 million for the insurance industry at the end of 2009, Don Forgeron, president and CEO of Insurance Bureau of Canada, told delegates of the…
The New Brunswick Insurance Board held a public hearing on Oct. 27 to consider an auto insurance rate filing by IAO Actuarial Consulting Services Inc. (IAO), which recommends an average rate decrease of 6.02% for 2010.The outcome of the meeting…
RenaissanceRe Holdings Ltd. reported a US$258.6-million profit in 2009 Q3, compared to a net loss of US$231 million in 2008 Q3. But gross premiums written (GPW) declined by US$37.4 million, down to US$202.4 million, in 2009 Q3. The reinsurer said…