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Judges at odds on liability of directors and officers in shareholders’ lawsuit

May 7, 2018 by Greg Meckbach

A class-action lawsuit by shareholders against five directors and officers of a Vancouver-based coal mining firm may reach the Supreme Court of Canada. Directors and officers are at risk of being sued by shareholders if the company’s share price drops;

News AssociationsInsuranceTechnology

Ontario Chamber of Commerce joins chorus of calls for electronic pink slips

May 1, 2018 by Jason Contant

The Ontario Chamber of Commerce (OCC) is the latest organization to call on the provincial government to allow insurers to offer an electronic proof of auto insurance (EPAI) and other insurance documents. In a resolution passed during OCC’s annual general

News CatastrophesClaimsInsurance

Early April storm in Ontario, Quebec causes $85 million in insured damage

April 30, 2018 by Jason Contant

A windstorm in early April is estimated to have cost insurers more than $85 million, mostly from home insurance claims in Ontario, according to Catastrophe Indices and Quantification Inc. (CatIQ). The April 4-5 storm brought severe rain and freezing rain,

News InsuranceTechnology

Simplifying claims involving automated cars

April 26, 2018 by David Gambrill

Canada’s insurers are developing a framework for insuring automated vehicles that is designed for handling auto claims quickly, regardless of whether tort liability arises from human error or a manufacturing defect in the automated vehicle. “We all know the automated

News AssociationsClaimsInsuranceLegislation / RegulationMarkets / Coverages

B.C. projects big savings from new minor injury cap

April 24, 2018 by Jason Contant

The Insurance Bureau of Canada (IBC) is congratulating British Columbia’s proposed legislative changes that would introduce a minor injury cap of $5,500 in the province, a move aimed at reversing the public auto insurer’s skyrocketing legal and administrative costs. The

News ClaimsInsurance

Windsor tremor shows quake risk exists anywhere in Canada

April 23, 2018 by Greg Meckbach

Earthquakes do hit southern Ontario from time to time but the area hit last week has a low risk of experiencing property damage arising from earthquakes, an Insurance Bureau of Canada official told Canadian Underwriter. Natural Resources Canada reported that

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 InsuranceLegislation / RegulationMarkets / Coverages

Ontario budget 2018: What’s in it for the industry

March 29, 2018 by Greg Meckbach

The Ontario government’s 2018-19 budget document provides some comfort for auto insurers because the province is committing to having the new regulator up and running by April 2019. The Financial Services Regulatory Authority, which will effectively replace the Financial Services

News InsuranceLegislation / Regulation

Why insurers and brokers like Ontario’s budget

March 29, 2018 by David Gambrill

Facing the distinct possibility of a political regime change in Ontario, the province’s auto insurers and brokers are calling on all of the province’s political parties to keep their eyes focused on auto insurance reform as the way to deliver

News ClaimsInsurance

A government that actually followed through on its promise to reduce tax on insurance premiums

March 28, 2018 by Jason Contant

Drivers in Newfoundland and Labrador can thank the province’s improved financial situation for a lower tax burden on auto insurance premiums in 2018. If the province’s financial situation continues to improve, the government said it might consider reducing the tax

News InsuranceMarkets / Coverages

Insurers applaud provincial decision to remove retail sales tax on insurance premiums

March 27, 2018 by Jason Contant

Newfoundland and Labrador’s decision to remove 5% of the retail sales tax paid on auto insurance premiums over the next four years will help return stability to the market, the Insurance Bureau of Canada (IBC) said Tuesday. Tom O’Handley, manager

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