Keyword
Insurance Bureau of Canada
Catastrophic Fort McMurray wildfire shows need for fire resilience
May 6, 2016 by Canadian UnderwriterThe devastating wildfire in and around Fort McMurray – an event that has been estimated could produce insured losses of as much as $9 billion, becoming the most cost disaster event ever in Canada – clearly illustrates the pressing need…
Tired of Losses
May 1, 2016 Greg Meckbach, Associate EditorDriver distraction and fatigue are believed to be the root causes of many large auto losses. Even when drivers have their eyes on the road, the mere act of talking on a hands-free wireless device can adversely affect both field of vision and the ability to concentrate on the task of driving, one risk management expert cautions. While hours of service regulations stipulate the amount of rest that commercial drivers must have, one sleep expert warns that sleeping at the right time is just as important as getting the right amount of sleep.
Catastrophic earthquake could threaten Canada’s p&c industry, government backstop needed for “unthinkable” events: IBC
April 22, 2016 by Angela StelmakowichA catastrophic earthquake could threaten Canada’s property and casualty industry, clearly illustrating the need to have in place a government backstop, Sylvie Paquette, chair of the Board of Directors for Insurance Bureau of Canada (IBC), said following IBC’s Annual General…
Work on refining IBC’s flood proposal continues, all properties must be covered under strategy: Forgeron
April 21, 2016 Angela Stelmakowich, EditorNo country offering flood protection has got things “100% right,” but Insurance Bureau of Canada (IBC) will continue to refine its proposal for a national flood strategy that ensures all areas, even high-risk areas, are covered and that works for…
Consistent approach by Canada’s p&c insurers essential to address existing, emerging issues: IBC chair
April 21, 2016 Angela Stelmakowich, EditorCollaboration and consistency among Canada’s property and casualty insurers will be key as the industry looks to tackle top-of-mind issues – like the sharing economy and overland flood – in a rapidly changing and increasingly complex environment, Sylvie Paquette, chair…
Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC
April 6, 2016 by Angela StelmakowichDespite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for…
Prepare for Anything
April 1, 2016 Greg Meckbach, Associate Editor and Jason Contant, Online EditorCanadians are well-aware of events that can produce insured losses, including storms and cold weather. But the possible influence of other less-familiar perils, like earthquakes and cyber cats, should also be on the radar.
IBC, Tesera Systems announce transfer agreement for bureau’s Municipal Risk Assessment Tool
March 30, 2016 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems…