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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

News BrokersInsurance

Brokers urged to unite with insurers to end Alberta cap

May 7, 2019 by David Gambrill

With a new government in Alberta, the Insurance Bureau of Canada (IBC) is calling for a united front with the broker channel to come up with a new auto reform package and put an end to the province’s 5% cap

News InsuranceMarkets / Coverages

Fate of this province’s auto reform now in the hands of politicians

February 1, 2019 by David Gambrill

Newfoundland’s auto insurance regulator, the Public Utilities Board (PUB), has tabled a thorough, 186-page report on what ails the province’s auto insurance system – with no recommendations to fix it. The chair of the PUB told the hearings held on

News AssociationsInsuranceMarkets / Coverages

Signs of progress on national flood program for Canada

January 29, 2019 by Jason Contant

Canada is making good progress on a national flood program, pending a final decision by federal, provincial and territorial (FPT) ministers responsible for emergency management. “What they are looking at is one national insurance solution to improve outcomes for high-risk

News AssociationsInsurance

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 InsuranceLegislation / Regulation

Public auto insurer seeks 6.3% rate increase

December 17, 2018 by Greg Meckbach

The Insurance Corporation of British Columbia said Friday it is seeking to raise rates by 6.3%, a move that prompted the Insurance Bureau of Canada to reiterate its call for competition in the province. Unlike in most Canadian provinces, B.C.’s

News ClaimsInsurance

What is Canada’s most stolen vehicle?

December 11, 2018 by Jason Contant

Ford F-Series trucks once again topped the list of Canada’s most frequently stolen vehicles, according to the Insurance Bureau of Canada (IBC). IBC released Tuesday its annual list of most stolen vehicles in Canada, compiled using data from members across

News AssociationsBrokersInsuranceTechnology

Will consumers soon be able to access policy documents electronically?

September 6, 2018 by Jason Contant

How close is the industry to consistently allowing consumers to access insurance documents electronically, such as by email? “It’s a bit of a hodge podge out there at the moment,” Colin Simpson, CEO of the Insurance Brokers Association of Ontario

News CatastrophesClaimsInsurance

Summer storms in this Canadian region cost over $200 million in insured damage

September 6, 2018 by Jason Contant

Summer storms across the Prairies have caused more than $200 million in insured damage so far this year. This brings total weather-related insured damage on the Prairies to $464 million since May 2017. The numbers from Catastrophe Indices and Quantification

News CatastrophesInsurance

The ‘touchy topic’ in Canadian home insurance

September 6, 2018 by Greg Meckbach

Lack of flood coverage in high-risk areas raises the controversial question of whether owners of high-risk properties should have their insurance premiums subsidized. Overland flood coverage was generally unavailable on home insurance policies in Canada until 2015. Now dozens of

News InsuranceLegislation / Regulation

Why Canadian insurers want to play in a “regulatory sandbox”

August 27, 2018 by Jason Contant

The Insurance Bureau of Canada (IBC) wants a “regulatory sandbox” for the P&C insurance industry, something currently not accessible to insurers. “Sandboxes relax specific legal and regulatory requirements to create a safe and conductive space for innovative ideas, enabling companies

News InsuranceMarkets / Coverages

Why insurers want P&C group insurance in Quebec

August 24, 2018 by Jason Contant

The Insurance Bureau of Canada (IBC) is calling for the creation and regulation of P&C group insurance in Quebec. P&C group insurance allows for a number of people, or a group, to be insured in a single contract. For example,