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IBC
Minor injury caps coming to Newfoundland?
November 17, 2017 Greg Meckbach, Associate EditorBrokers placing auto insurance in Newfoundland and Labrador should get in touch with politicians to put an ongoing review on their radar screen, and to let Insurance Bureau of Canada know whether they have any ideas on how to fix…
Will feds get involved in flood coverage for high-risk homes?
November 16, 2017 Greg Meckbach, Associate EditorDespite calls from the industry for public sector involvement in covering flood risk to high-risk residential properties, the federal government has not committed to any programs that would lead to public sector involvement in flood coverage. Canadian Underwriter asked Public…
‘Different financial model’ needed for flood coverage: IBC
November 14, 2017 Greg Meckbach, Associate EditorThe National Roundtable on Flood Risk, scheduled Thursday in Regina, presents a “terrific opportunity launch a national conversation on flood risk,” said Craig Stewart, vice president of federal affairs for Insurance Bureau of Canada. Along with IBC president and CEO…
Insurers’ advice to brokers about overland flood policies
November 14, 2017 Greg Meckbach, Associate EditorAmid concerns about the frequency and severity of flooding in Canada, insurers are advising brokers to “stay on top” of the various water coverage products in the market, as well as to bear in mind that different carriers are taking…
New Brunswick to impose new measures for impaired drivers starting Nov. 1
October 19, 2017 The Canadian Press (CPSTF)FREDERICTON – New Brunswick will seize drunk drivers’ cars for up to two months under a law that comes into force Nov. 1 Public Safety Minister Denis Landry says the new law will make the province one of the country’s…
B.C. wildfires cause more than $127 million in insured damage: CatIQ
September 27, 2017 by Canadian UnderwriterThe “two most significant wildfires in British Columbia this summer” caused more than $127 million in insured damage, the Insurance Bureau of Canada (IBC) said, quoting Catastrophe Indices and Quantification Inc. (CatIQ). The wildfires around Williams Lake caused close to…
Insured damages exceeds $124 million from Windsor August floods: CatIQ, IBC
September 25, 2017 by Canadian UnderwriterFloods in late August in Windsor, Ont. resulted in more than $124 million in losses to the industry, Insurance Bureau of Canada suggested Monday. “From August 28 – 29, a slow-moving area of low pressure produced significant rainfall over areas…
IBC launches ‘Know Your Policy’ consumer awareness campaign
September 14, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has launched ‘Know Your Policy,’ an online campaign designed to promote insurance literacy among Canadian consumers. “A car collision, a home damaged by wind or hail and a business interrupted by vandalism or floods…
37% of Quebec tenants have no home insurance: IBC survey
September 6, 2017 by Canadian UnderwriterNearly four in 10 tenants in Quebec have no home insurance, “a regrettable situation that clearly puts their financial security at risk,” the Insurance Bureau of Canada (IBC) said in a press release on Wednesday. A survey completed for IBC…
Spring flooding in Ontario and Quebec caused more than $223 million in insured damage: CatIQ
September 1, 2017 by Canadian UnderwriterTwo significant spring storm and flooding events in eastern Ontario and western Quebec resulted in more than $223 million in insured damage, according to information from Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ) released on Friday. Between April 5 and…
BIP Talk aims to let brokers ‘better understand’ underlying problems with Ontario auto insurance: Forgeron
August 25, 2017 Greg Meckbach, Associate EditorMore 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…
Government of Newfoundland and Labrador finalizes terms of reference for auto insurance review
August 16, 2017 by Canadian UnderwriterThe provincial government announced on Tuesday that it has finalized the terms of reference for the automobile insurance review for Service NL and the provincial Board of Commissioners of Public Utilities (PUB). Government has directed PUB to begin its review…