A legal action brought by the Insurance Corp. of British Columbia (ICBC) against Speedy Glass for having allegedly violated market practices under the crown insurer’s "Glass Express" repair program has been settled.ICBC charged that a number of Speedy Glass outlets…
Insured losses from the hail and rainstorm which caused widespread flooding in the Edmonton area have already caused insurers to post at least $87 million in reserves, and the total is sure to rise, says Louise Bremness, manager of regional…
First quarter income reported by Manitoba Public Insurance (MPI) the province’s government auto insurer dropped significantly but is in line with historic norms.Net income for the first quarter ending May 31, 2004 was just $8.7 million, down from $29.3 million…
Hoping to clarify its position with regard to the need for confidentiality in the rate filing process, The Co-operators has issued a press release on its Nova Scotia filing.Co-operators vice president of personal lines Robert Wesseling says he is surprised…
Rate applications approved during the first and second quarters of 2004 amount to an average drop of 7.3% in Ontario auto rates, according to the Financial Services Commission of Ontario (FSCO). This comes on top of the rate freeze in…
Saskatchewan’s public insurer, Saskatchewan Government Insurance (SGI), is asking for a 10% increase on its auto rates, effective January 1, 2005.In a submission to the province’s Rate Review Panel, SGI says the increase is need to keep pace with claims.”SGI…
B.C.’s public auto insurer has filed for no rate increase on its basic coverage package for 2005, citing improved investment results and lower claims.The Insurance Corp. of B.C. (ICBC) says it may also drop rates on its optional coverage, a…
In response to the Alberta government’s auto insurance reform package which was announced last month, the opposition Liberal Party has set in motion a public petition to gather support for the introduction of a public auto system. The province’s premier…
Ontario’s insurance regulator will have its hands full again in 2004 with changes to the auto insurance system, as illustrated by its “statement of priorities”.Auto insurance changes and regulatory harmonization feature heavily in the document, which outlines the 2004-2005 mandate…
Saskatchewan has switched to the same single license plate system in use in most provinces. As of June 30, drivers will be issued just one plate on new transactions, and other drivers will have the choice of whether they want…
While welcoming confirmation the New Brunswick government has abandoned the concept of public auto insurance, insurers remain concerned that reforms announced Tuesday will not help reduce the cost of providing insurance in the province.“We believe the government decision to preserve…
Actuarial reports leaked to Canadian Press suggest the New Brunswick government will announce tomorrow that public auto is off the table.The actuarial studies, which were reported widely Monday in Atlantic Canada’s newspapers, suggest that a public system would actually cost…