What’s new: In brief (March 02, 2005)

The U.S. Insurance Information Institute (III) says homeowners’ insurance rates are expected to rise 2.5% in 2005, which would be the smallest increase seen in the last six years. In 2004, rates rose 3.8% and the average premium was US$660 this is expected to rise US$17 in 2005. III chief economist says some of the rate increases in the past few years have had to do with low interest rates, which have prompted people to move to bigger homes or make additions and improvements on their existing homes.

The most popular theft target amongst cars in the U.S. in 2003 was the 2000 Honda Civic, according to the National Insurance Crime Bureau’s annual “hot wheels” list. Also making the top five are the 1989 Toyota Camry, 1991 Honda Accord, 1994 Chevy Full-size 1500 Pick-up, and the 1994 Dodge Caravan. These popular models are often used for replacement parts or exported to foreign countries. More than 1.2 million cars were reported stolen in 2003, with an estimated value of more than US$80 billion however, recovery rates were about 65%.

RBC Insurance has teamed up with Hockey Canada and the Hockey Hall of Fame to recognize 13 people who support hockey at the grassroots level. RBC received more than 3,000 nominations for the “Local Hockey Leaders Program”, with each winner receiving a signed Team Canada jersey, a donation of $10,000 in their name to local minor hockey and will be part of a ceremony at the Hall of Fame in Toronto.