Canadian Underwriter

Keyword
IBC

News BrokersInsurance

Why it matters that insurance is declared to be an “essential service”

March 24, 2020 by Adam Malik

The insurance industry will continue to operate as an essential service after Quebec and Ontario issued orders for many companies to close their doors due to the COVID-19 pandemic. And that’s a relief for consumers, brokers and insurers, say industry

News AssociationsBrokersInsuranceLegislation / Regulation

What IBC and brokers think would improve condo insurance affordability in B.C.

March 2, 2020 by Jason Contant

Insurance Bureau of Canada (IBC) has issued a series of policy recommendations to help improve the affordability of strata insurance in British Columbia, some of which touch upon suggestions made by the province’s broker association. IBC’s recommendations include: Mandatory education

News Commercial LinesInsuranceMarkets / Coverages

How IBC plans to keep insurance “affordable and available” across Canada

February 18, 2020 by Jason Contant

Following years of significant commercial insurance losses, Insurance Bureau of Canada (IBC) has launched a national task force to examine ways to help Canadian consumers mitigate risk and manage costs. The National Commercial Insurance Task Force will bring together insurers,

News AssociationsInsuranceRisk

Industry to see single entity for anti-fraud services

February 6, 2020 by Jason Contant

Canada’s national trade organization for private insurers has combined forces with a not-for profit organization to transition anti-fraud services into a single entity. Insurance Bureau of Canada’s (IBC) board of directors said in a press release Monday it has agreed

News InsuranceRisk

How to reduce a condo corporation’s insurance premiums

January 15, 2020 by David Gambrill

With condo insurance premiums on the rise – in some jurisdictions, premiums have reportedly increased by 780% — and coverage scarce, legal counsel and Canadian Underwriter readers have a few ideas for the Insurance Bureau of Canada’s forthcoming risk manager

News InsuranceLegislation / RegulationProducts

This auto rating factor could give brokers a headache

September 26, 2019 by Greg Meckbach

British Columbia’s auto insurer has one rating factor that makes sense from an underwriting point of view, but could be onerous for brokers, an insurance defence lawyer suggests. The Insurance Corporation of British Columbia requires motorists in the province to

News InsuranceReinsuranceRisk

$30-billion sticker shock for OSFI’s proposed reinsurance rules

September 24, 2019 by David Gambrill

Canada’s property and casualty industry would have to post an additional $21 billion to $30 billion in capital to insure Canadian risks if the country’s solvency regulator moves forward with proposed new rules as currently drafted, the industry warns. On

News InsuranceLegislation / Regulation

What the industry can do to get out of the hard market cycle

August 30, 2019 by Adam Malik

Although regulation is one significant factor in the current hardening market conditions, that doesn’t mean the insurance industry should cry “woe is me” and wait for things to get better on their own. Instead, a pro-active approach is needed, experts

News BrokersInsuranceLegislation / RegulationTechnology

Digital pink cards get green light in third province

August 13, 2019 by Adam Malik

A third Canadian province has been given the go-ahead for electronic proof of insurance for drivers. The Alberta government gave the OK for drivers to show their pink cards in a digital format through their smartphone this week, following the

News Insurance

IBC aids in $2.2-million stolen vehicle investigation

July 26, 2019 by Jason Contant

Insurance Bureau of Canada (IBC) will assist in identifying stolen high-end vehicles that police believe were being prepped to be shipped overseas in containers to China and European countries. Each year, auto theft causes Canadians close to $1 billion, IBC

News Insurance

Auto reform update: Fasten your seatbelts

July 24, 2019 by David Gambrill

Fasten your seatbelts, everyone, because the rate of auto reform is going to resemble a low-speed chase through a turbulent market cycle. Even if auto reform packages were to be introduced in every single legislative assembly across the land today,

News InsuranceLegal

New judge represented Insurance Bureau at Supreme Court of Canada

May 9, 2019 by Greg Meckbach

A lawyer who represented the Insurance Bureau of Canada at the Supreme Court of Canada in impaired driving cases as been appointed to the bench. Stikeman Elliott LLP partner Nicholas McHaffie was named a Federal Court of Canada judge and