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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

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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

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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

News CatastrophesClaimsInsuranceMarkets / Coverages

Aon Benfield suggests Brantford flooding will cost “tens of millions”

March 9, 2018 by Jason Contant

Aon Benfield’s catastrophe model development team, Impact Forecasting, is estimating total economic and insured losses in the tens of millions (U.S. dollars) for the recent flooding in southern Ontario. Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter in late

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January winter storm largely battered one province

March 8, 2018 by Jason Contant

A winter storm in central and eastern Canada at the beginning of the year caused more than $54 million in insured damage, with the majority of damage being in Quebec, Catastrophe Indices and Quantification Inc. (CatIQ) reported Thursday. Of the

News InsuranceLegislation / Regulation

No push from brokers to end B.C. government monopoly on auto insurance

March 7, 2018 Greg Meckbach, Associate Editor

Despite the fact that British Columbia’s government monopoly auto insurer lost almost $1 billion in the first nine months of last year alone, brokers in the province are not seeing a push from motorists to open the market to competition.

News CatastrophesClaims

Ontario flooding a “wakeup call” for homeowners to check their policies: IBC

February 27, 2018 by Greg Meckbach

Ongoing flooding issues in southern Ontario are a “wakeup call” that homeowners should be reviewing their water damage coverage, Insurance Bureau of Canada (IBC) cautions. Several communities, including Brantford, Chatham and London, experienced flooding due to mild temperatures and several

News InsuranceLegislation / Regulation

Insurers applaud Quebec’s tougher stance on distracted driving

February 21, 2018 by David Gambrill

Canadian property and casualty insurers are pleased that Quebec is proposing new distracted driving rules, including stronger penalties as a deterrent, as part of a larger package of proposals to beef up the province’s Highway Safety Act. Insurance Bureau of