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March windstorm in eastern Newfoundland caused close to $45 million in insured damage: CatIQ

April 26, 2017 by Canadian Underwriter

A 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

News CatastrophesInsuranceMarkets / Coverages

Southern Ontario windstorm in March caused close to $100 million in insured damage: CatIQ

April 18, 2017 by Canadian Underwriter

A 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).

News AssociationsCatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When 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

News CatastrophesInsuranceMergers and Aqcuisitions

B.C. announces more than $8 million in flood protection in latest round of investments

April 3, 2017 by Canadian Underwriter

British 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

News CatastrophesClimate ChangeInsuranceReinsurance

Landmark federal investments for disaster-proofing communities, enhancing resilience: IBC

March 23, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s strong support for the federal government’s move to beef up investments aimed at enhancing resilience by better disaster-proofing communities. As part of the 2017 Federal Budget tabled Wednesday,

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

B.C. government invests over $10.5 million in Fraser Valley flood mitigation

March 23, 2017 by Canadian Underwriter

The province of British Columbia has announced a $10.5 million investment in dike and pump upgrades to the Fraser Valley Regional District’s Nicomen Island diking system as part of more than $80 million in emergency preparedness funding announced on March

News AssociationsCatastrophesClimate ChangeInsuranceReinsurance

IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government

March 15, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with

News InsuranceLegalMergers and Aqcuisitions

Aviva Canada applauds bill to address distracted driving through creation of designated “safe texting zones”

March 10, 2017 by Canadian Underwriter

Aviva Canada is applauding the second reading of a private member’s bill in Ontario to combat distracted driving through the creation of designated “safe texting zones.” Bill 19, the Safe Texting Zones Act, passed second reading on Thursday. Brought forward

News InsuranceLegal

IBC welcomes Newfoundland and Labrador government’s legislation aimed at reducing impaired driving

March 3, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is welcoming the Government of Newfoundland and Labrador’s recent announcement aimed at reducing impaired driving. On Thursday, the provincial government introduced amendments to the Highway Traffic Act that strengthen impaired driving laws. The proposed

News AssociationsClimate ChangeConstructionInsurance

IBC congratulates federal government on National Research Council decision to update Canada’s building codes

February 28, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is congratulating the federal government on the National Research Council Canada (NRC) decision to update the country’s building codes to reflect the realities of climate change. “This is something that Canada’s property and casualty

News InsuranceLegislation / RegulationMergers and Aqcuisitions

Insurance Bureau calls on Ontario to implement file-and-use process for private passenger auto, allow e-signatures

February 7, 2017 by Canadian Underwriter

The Ontario government should apply a file-and-use process for private passenger auto coverage, Insurance Bureau of Canada suggested in a paper released Monday. Auto insurers’ rate changes are subject to approval by the Financial Services Commission of Ontario. FSCO actuaries

News CatastrophesClimate ChangeConstructionEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Severe weather, nat-cats cause record insurable damage in Canada: IBC/CatIQ

January 6, 2017 by Canadian Underwriter

Severe weather last year exacted a heavy toll in terms of insured losses, with the $4.9 billion hit dwarfing the previous annual record of $3.2 billion in 2013, Insurance Bureau of Canada (IBC) reports. Flooding in southern Alberta and the