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2019 Executive Outlook | Don Forgeron, IBC

January 2, 2019 Canadian Underwriter

Canadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019

News CatastrophesClaimsClimate ChangeInsurance

Bigger floods coming to Canada: Intact Centre head

April 10, 2018 by Greg Meckbach

If you think the most expensive floods in Canadian history were big, you haven’t seen anything yet. “The manifestation of climate change and extreme weather events is still yet to come,” said Blair Feltmate, head of the Intact Centre on

News CatastrophesClaimsClimate ChangeInsuranceReinsurance

Industry understanding of wildfire risk needs improvement: CEO

April 10, 2018 by Greg Meckbach

The property and casualty insurance industry needs to get a better understanding of wildfire risk in Canada because we will experience more disasters like Fort McMurray in the future, a reinsurance company executive warned Monday. “We think [the industry] needs

News CatastrophesInsuranceMarkets / Coverages

Ask B.C. residents if they are covered for wildfire. 25% will tell you this…

March 21, 2018 by Jason Contant

As many as 25% of British Columbians say they don’t know if they have insurance for wildfire and severe weather emergencies, according to a survey released Monday by the provincial public safety ministry. Fewer than half of British Columbians have

News InsuranceLegislation / RegulationMarkets / Coverages

Ont. auto accident benefits shouldn’t entail ‘arguing about what care is appropriate each and every time’

October 25, 2017 Greg Meckbach, Associate Editor

Addressing the problems of both Ontario’s auto insurance and workers compensation systems calls for packages of care that work for most injured people and not for cash settlements, the former chief executive officer of the Workplace Safety Insurance Board suggested

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

BIP Talk aims to let brokers ‘better understand’ underlying problems with Ontario auto insurance: Forgeron

August 25, 2017 Greg Meckbach, Associate Editor

More than four months after the release of David Marshall’s report on auto insurance, Insurance Bureau of Canada’s president and chief executive officer is hoping Ontario’s brokers will “add their voice” to calls from the industry to “fundamentally overhaul” auto

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Investment income doubles for Canadian P&C industry: MSA

June 27, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.

News InsuranceLegislation / Regulation

IBC board recommends Ontario, Atlantic Canada members voluntarily align home policies to protect innocent co-insureds

May 16, 2017 by Canadian Underwriter

The Insurance Bureau of Canada’s (IBC) board of directors is recommending that IBC’s members operating in Ontario and the Atlantic provinces voluntarily align their home insurance policies with other jurisdictions when it comes to protecting “innocent co-insureds.” Current legislation in

News Earnings / RatingsInsurance

CIBC economist tells insurers how investment returns could be affected by ‘things that go Trump in the night’

April 26, 2017 Greg Meckbach, Associate Editor

Interest rates in Canada are predicted to stay “very low by historic standards” through the end of 2019, an economist recently told insurance professionals, while a “movement against globalization” is a concern for one of Canada’s largest carriers. Avery Shenfeld,

News InsuranceLegislation / RegulationMergers and Aqcuisitions

‘Fresh approach’ needed for Ontario auto insurance: IBC CEO

April 25, 2017 Greg Meckbach, Associate Editor

A report released two weeks ago is “probably the best description we have to date of what is wrong” with Ontario’s auto insurance system, the chief executive officer of Insurance Bureau of Canada said Tuesday. In opening remarks at IBC’s

News AssociationsCatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesClimate ChangeInsuranceReinsurance

Landmark federal investments for disaster-proofing communities, enhancing resilience: IBC

March 23, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s strong support for the federal government’s move to beef up investments aimed at enhancing resilience by better disaster-proofing communities. As part of the 2017 Federal Budget tabled Wednesday,