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Markets / Coverages
IBAO announces plans for two upcoming telematics offerings
May 6, 2014 by Canadian UnderwriterIndependent Broker Resources Inc. (IBRI), a subsidiary of the Insurance Brokers Association of Ontario, will introduce two telematics offerings to the industry, IBAO CEO Randy Carroll said in an update issued Tuesday. IBRI will be offering a telematics solutions from…
Alberta brokers advised to meet the person responsible for sewers in their community
May 6, 2014 Greg Meckbach, Associate EditorJASPER, ALTA. — The frequency and severity of some natural disasters will increase and Alberta “has had more than its share” of weather-related catastrophes, but insurance brokers can help prevent future losses by advising homeowners how to adapt, speakers told…
Walmart offers auto insurance rate comparisons in U.S.
April 30, 2014 by Canadian UnderwriterRetail giant Walmart is now offering auto insurance rate comparison services through its own website and AutoInsurance.com for several regions of the United States, with a plan to go nationwide in the coming months. The service is available immediately in…
Jaywalkers, cyclists, blind corners: Google says its driverless cars mastering city streets
April 28, 2014 Justin Pritchard, THE ASSOCIATED PRESSLOS ANGELES – Google says that cars it has programmed to drive themselves have started to master the navigation of city streets and the challenges they bring, from jaywalkers to weaving bicyclists – a critical milestone for any commercially available…
Wynne visits Belleville flood victims; mayor says damage will be in the millions
April 23, 2014 THE CANADIAN PRESSBELLEVILLE, Ont. – Ontario Premier Kathleen Wynne toured the flood-hit areas of Belleville on Tuesday. Wynne stopped short of providing direct funding to the city, at least for now. She says individuals and municipalities affected by the flood can apply…
Ontario auto insurance approved rates decline in first quarter
April 16, 2014 by Canadian UnderwriterApproved rates for private passenger auto insurance declined on average by 5.01% during the first quarter of the year, the Financial Services Commission of Ontario has reported. That figure is for the 14 insurers’ rate filings that were approved during…
Ontario’s proposed towing legislation a good first step: IBC
April 16, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has lent its support to draft legislation tabled by the Ontario government Tuesday meant to combat auto insurance fraud by aiding disclosure and enhancing transparency for consumers requiring towing services. Characterizing the Roadside Assistance…
Ontario to regulate tow trucks, require posted rates, customer permission to tow
April 15, 2014 THE CANADIAN PRESSTORONTO – Ontario’s Liberal government is promising tough new measures to protect consumers from being ripped off by unscrupulous tow truck drivers and storage companies. Consumer Services Minister Tracy Charles says she’s heard too many stories about tow truck drivers…
Carriers ‘mitigating’ flood exposure after 2013 Alberta disaster: Western Financial CEO
April 14, 2014 Greg Meckbach, Associate EditorIn the aftermath of last year’s floods in southern Alberta, home and commercial insurance carriers are changing their policies, and a major reinsurer is calling on all stakeholders to come up with workable flood coverage. Jeff Burke, president and chief…
ICBC to refund $39 million in optional insurance policy over-payments
April 14, 2014 by Canadian UnderwriterThe Insurance Corporation of British Columbia has identified several thousand customers who have overpaid on their optional auto insurance because of incorrect vehicle descriptions. Overall, ICBC will be issuing refunds totaling around $36 million, plus $3 million in interest based…
Desjardins expects some big players to be part of insurance landscape in future
April 11, 2014 Angela Stelmakowich, EditorThe consolidation of the property and casualty market in Canada is a trend that will impact the insurance industry in future and that future will likely include, among others, a small number of very large players, notes Denis Dubois, chief…
Slight decrease in auto insurance rates in New Brunswick in 2013: report
April 9, 2014 THE CANADIAN PRESSFREDERICTON – New Brunswick’s consumer advocate for insurance says drivers continue to benefit from competition among companies as the average amount they paid to insure their cars last year fell by about $16. Ronald Godin says the average insurance rate…