Canadian Underwriter

Keyword
IBC


News CatastrophesInsuranceMarkets / CoveragesReinsurance

Guess how much a magnitude-5.8 earthquake in eastern Canada could cost insurers?

January 15, 2018 Peter Rakobowchuk - THE CANADIAN PRESS

MONTREAL – While people in British Columbia are mindful of the fact they could eventually face some of the strongest earthquakes in the world, at least one study warns there’s a lack of awareness of the risk in Eastern Canada.

News CatastrophesClaimsInsuranceMarkets / Coverages

Why Canadian insurers paid $1.33 billion for cat claims in a benign cat year

January 9, 2018 by David Gambrill

Canadian insured losses from catastrophic events in 2017 totaled $1.33 billion, CatIQ Inc. reports, the fifth time that’s happened over the past seven years. “It’s becoming increasingly common to have Canadian annual insured losses to be greater than $1 billion,”

News Earnings / RatingsInsuranceMarkets / Coverages

Politicians at odds with industry over territorial rating

December 18, 2017 by Canadian Underwriter

Using postal codes to determine auto insurance rates could come to an end if the Progressive Conservatives win the next Ontario election. “Geographic discrimination should be eliminated while not raising rates on other parts of the province,” a spokesperson for

News ClaimsInsuranceMarkets / Coverages

New Brunswick moves to protect innocent co-insureds

December 7, 2017 by Canadian Underwriter

New Brunswick tabled amendments to the province’s Insurance Act Wednesday to protect innocent co-insureds in cases of intimate partner violence and property damage. Most home insurance policies exclude payment for loss or damage caused by an intentional or criminal act

News AssociationsInsuranceMarkets / Coverages

Why thieves are targeting Ford F-series Super Trucks

December 5, 2017 David Gambrill, Editor-in-Chief

Ford F-series Super Duty trucks dominated the Insurance Bureau of Canada (IBC)’s 2017 list of Top 10 stolen vehicles because they are perfect for both individuals committing ‘opportunistic’ crimes such as joyriding and for organized crime rings looking to sell

News Climate ChangeInsuranceMarkets / Coverages

IBC welcomes province’s climate change efforts

November 28, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is welcoming the climate change provisions in the Government of Ontario’s newly released Long-Term Infrastructure Plan (LTIP). The provincial government released LTIP on Tuesday. The plan includes investment in public infrastructure, such as hospitals,

News CatastrophesInsuranceLegislation / RegulationMarkets / Coverages

MPP seeks “accident forgiveness” for public emergency claims

November 27, 2017 Greg Meckbach, Associate Editor

An effort to forbid Ontario insurers from terminating a policyowner’s contract on the basis of a claim arising from a declared public emergency highlights concerns over the lack of a government backstop for home flood coverage, an Insurance Bureau of

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

What’s the hourly wage of an insurance professional?

November 25, 2017 David Gambrill, Editor-in-Chief

Ontario’s recent minimum wage hike up to $15 per hour ruffled a few feathers within the business community, but the new legislation didn’t raise much of a fuss within the property and casualty (P&C) insurance sector. “On this particular issue,

News CatastrophesClaimsInsuranceMarkets / Coverages

More Windsor residents eligible for Ontario government flood relief

November 20, 2017 Greg Meckbach, Associate Editor

Nearly three months after torrential downpours gave rise to more than $100 million in insured losses in and near Windsor, the Ontario government announced Monday it has expanded the number of property owners eligible for disaster relief. “Expanding the original

News InsuranceMarkets / Coverages

Minor injury caps coming to Newfoundland?

November 17, 2017 Greg Meckbach, Associate Editor

Brokers 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

News CatastrophesInsuranceMarkets / Coverages

Will feds get involved in flood coverage for high-risk homes?

November 16, 2017 Greg Meckbach, Associate Editor

Despite 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

News CatastrophesInsuranceMarkets / Coverages

‘Different financial model’ needed for flood coverage: IBC

November 14, 2017 Greg Meckbach, Associate Editor

The 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