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How new overland flood policies affect disaster assistance eligibility

May 29, 2018 by Jason Contant

Given recent flooding in Grand Forks and other areas of B.C., questions remain about the interplay between overland flood policies and how Disaster Financial Assistance (DFA) in B.C. factors into the response. Various insurance coverages for overland flood are new,

News InsuranceMarkets / CoveragesTechnology

Locomotive recorder legislation law takes aim at railway risk managers

May 29, 2018 by Greg Meckbach

A new federal law passed Thursday is intended to mandate the videotaping of locomotive crews in order to let railway risk managers help prevent accidents. Bill C-49, The Transportation Modernization Act, was signed Thursday into law by Governor General Julie

News ClaimsInsuranceMarkets / Coverages

City of Vancouver files claim against owners of vessel that leaked fuel in 2015

May 29, 2018 Canadian Press

Vancouver Mayor Gregor Robertson says the city has filed a federal court claim against the owner of a vessel that spilled fuel into English Bay in 2015, as part of the city’s continuing effort to get compensation for its response

News ClaimsInsuranceLegalMarkets / Coverages

This percentage of consumers believe auto insurance fraud is an “accepted practice”

May 28, 2018 by Jason Contant

Nearly half of customers polled for an Insurance Corporation of British Columbia (ICBC) survey believed that committing auto insurance fraud is an “accepted practice” in B.C., with most saying that claims contain an “element” of fraud. The survey of 1,373

News ClaimsInsuranceMarkets / Coverages

Winter tires cut auto insurance claims frequency: CAA

May 28, 2018 by Greg Meckbach

Winter tires reduce the frequency of auto insurance claims, the head of the Canadian Automobile Association’s Ontario auto insurer suggested Wednesday. “Claims are reduced when people have winter tires on their cars, especially driving in climates like we have in

News InsuranceMarkets / CoveragesTechnology

Forget insurtechs: your next competitors will be Google, Amazon, and Facebook

May 27, 2018 by Jason Contant

Just under one-third of customers globally (22.8% in Canada) are willing to buy insurance products from “BigTech” companies such as Amazon, Facebook and Google, a new report has found, suggesting a greater need for traditional insurance providers to “develop future-ready

News ConstructionInsuranceMarkets / Coverages

Kinder Morgan begs the question: Is civil disobedience an insured risk?

May 27, 2018 by Jason Contant

With continued legal challenges and protests surrounding construction of the proposed new Kinder Morgan pipeline, potential insurance repercussions could be just around the corner. An Insights West opinion poll released last month found that more than one in 10 British

News InsuranceMarkets / Coverages

Election 2018: Will Ontario get public auto?

May 27, 2018 by Greg Meckbach

If an election were held today in Ontario, the country’s largest private auto insurance market would be governed by a party that has promised public auto insurance in the past. Forum Research announced Thursday it projects a New Democratic Party

News InsuranceMarkets / Coverages

How promises to eliminate territorial auto rates will divide urban and rural voters

May 24, 2018 by Greg Meckbach

When Ontarians go to the polls June 7, they will likely vote for a party with at least some members who promise to put an end to territorial ratings in auto insurance. This poses a problem for the property and

News InsuranceMarkets / CoveragesTechnology

Here’s one way that lower auto insurance rates could increase profits

May 24, 2018 by Greg Meckbach

With new technology-driven auto insurance on the horizon, some motorists will drive less and buy insurance from carriers who target low-mileage vehicles, the founder of a comparison shopping provider suggests. Several Ontario auto insurers will probably launch products similar to

News Markets / CoveragesMGAsProducts

New cyber product covers pre-policy breaches, personal phone use for work

May 24, 2018 by Jason Contant

Addressing two major gaps in cyber coverage for small to medium-sized businesses (SMEs) inspired the launch this week of Cyberboxx by new managing general agent (MGA) Boxx Insurance. CyberBoxx addresses: 1) breaches before the policy commencement date, and 2) employees

News CatastrophesInsuranceMarkets / Coverages

These structures can help prevent the spread of wildfires in Canada

May 24, 2018 Bill Graveland - THE CANADIAN PRESS

CALGARY – A University of Calgary study says there need to be more wide, open spaces to prevent catastrophic wildfires like the one that devastated the city of Fort McMurray in northeastern Alberta two years ago. Researchers from the university’s