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IBC encouraging policyholders to discuss policy limits with insurers as B.C. wildfires continue
July 10, 2017 by Canadian UnderwriterAs British Columbia has declared a state of emergency due to wildfires burning out of control throughout much of the Interior, the Insurance Bureau of Canada (IBC) is encouraging policyholders to discuss policy limits with their insurer. Most home and…
IBC congratulates City of Toronto on the creation of a chief resilience officer position
July 5, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is congratulating the City of Toronto “for its ongoing commitment to emergency preparedness” with the recent establishment of a chief resilience officer for the city. Last month, Tory announced that the position will be…
Auto, cargo theft funding terrorist activity: Insurance Analytics Canada Summit speaker
July 4, 2017 Greg Meckbach, Associate EditorThe proceeds of cargo theft and auto theft are in some cases funding terrorist activity, while accident benefits fraud in Ontario continues to be a problem, an Insurance Bureau of Canada speaker suggested to attendees at the Insurance Analytics Canada…
Courts can award damages for mental injury without psychiatric diagnosis: Supreme Court of Canada
June 14, 2017 by Canadian UnderwriterThe Supreme Court of Canada has rejected an argument by Insurance Bureau of Canada that a court should not award damages for psychological or emotional damage unless the plaintiff demonstrates the tort caused a “recognizable psychiatric illness.” In a recent…
IBC, Edmonton Police Service and RCMP join forces on campaign about rising auto theft rates in Edmonton
May 19, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC), Edmonton Police Service (EPS) and the RCMP are partnering to launch an educational campaign on rising auto theft rates in Edmonton. The campaign, titled Lock Out Auto Theft, consists of a website, social media…
IBC board recommends Ontario, Atlantic Canada members voluntarily align home policies to protect innocent co-insureds
May 16, 2017 by Canadian UnderwriterThe 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…
Ontario Chamber of Commerce endorses major changes to auto insurance rate regulation
May 9, 2017 by Canadian UnderwriterThe Ontario Chamber of Commerce (OCC) is calling on the provincial government to put an end to its existing auto rate filing system, a system the chamber describes as “one of the most costly, onerous, and restrictive in North America.”…
Mobile earthquake simulator to visit Quebec in May and June
May 3, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is inviting Quebecers to experience the Quake Cottage, a mobile earthquake simulator, this month and next. As part of its earthquake preparedness campaign, IBC will be touring Quebec cities and shopping centres from La…
March windstorm in eastern Newfoundland caused close to $45 million in insured damage: CatIQ
April 26, 2017 by Canadian UnderwriterA windstorm in eastern Newfoundland on March 11 has resulted in nearly $45 in insured damages, according to Catastrophe Indices and Quantification Inc. (CatIQ). The Insurance Bureau of Canada (IBC) explained in a press release on Wednesday that a low…
Southern Ontario windstorm in March caused close to $100 million in insured damage: CatIQ
April 18, 2017 by Canadian UnderwriterA windstorm that affected parts of southern Ontario on March 8 has resulted in nearly $100 million in insured damage, Catastrophe Indices and Quantification Inc. (CatIQ) said on Tuesday in a press release from the Insurance Bureau of Canada (IBC).…
Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron
April 7, 2017 by Angela StelmakowichWhen 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…
B.C. announces more than $8 million in flood protection in latest round of investments
April 3, 2017 by Canadian UnderwriterBritish Columbia’s Ministry of Transportation and Infrastructure announced on Friday funding for two flood protection projects in the province. The first is a $4.17 million investment to the District of Kent to expand and upgrade the Hammersley Pump Station, which…