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Standard would help enhance flood resilience of new communities: report

September 26, 2017 by Angela Stelmakowich

Research out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

BIP Talk aims to let brokers ‘better understand’ underlying problems with Ontario auto insurance: Forgeron

August 25, 2017 Greg Meckbach, Associate Editor

More than four months after the release of David Marshall’s report on auto insurance, Insurance Bureau of Canada’s president and chief executive officer is hoping Ontario’s brokers will “add their voice” to calls from the industry to “fundamentally overhaul” auto

News InsuranceLegislation / RegulationMergers and AqcuisitionsProducts

Government of Newfoundland and Labrador finalizes terms of reference for auto insurance review

August 16, 2017 by Canadian Underwriter

The provincial government announced on Tuesday that it has finalized the terms of reference for the automobile insurance review for Service NL and the provincial Board of Commissioners of Public Utilities (PUB). Government has directed PUB to begin its review

News AssociationsInsuranceLegislation / RegulationMergers and Aqcuisitions

Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR

August 9, 2017 by Canadian Underwriter

In a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk

News AssociationsCatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Estimated insured damage for June storm in central Alberta upwards of $30 million

July 17, 2017 by Canadian Underwriter

A severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.

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State of emergency continues as wildfires affect interior B.C.

July 13, 2017 by Canadian Underwriter

Mining and wood products are among the industries affected by wildfires in British Columbia’s interior, where a state of emergency is in place. Imperial Metals Corp. announced Wednesday that an open pit copper/gold mine 56 kilometres northeast of Williams Lake

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Vancouver mobile app development company launches pilot program to protect Canadians from distracted driving

July 12, 2017 by Canadian Underwriter

eBrake Technologies Inc., a mobile app development company founded in Vancouver in June 2016, announced on Wednesday a pilot program that will offer a smartphone app designed to prevent distracted driving. The pilot program will offer smartphone app eBrake to

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

IBC encouraging policyholders to discuss policy limits with insurers as B.C. wildfires continue

July 10, 2017 by Canadian Underwriter

As British Columbia has declared a state of emergency due to wildfires burning out of control throughout much of the Interior, the Insurance Bureau of Canada (IBC) is encouraging policyholders to discuss policy limits with their insurer. Most home and

News AssociationsCatastrophesClimate ChangeMergers and AqcuisitionsReinsurance

Intact Financial Corporation announces $105 million Cat loss for 2017 Q2

July 6, 2017 by Canadian Underwriter

Intact Financial Corporation’s (IFC) estimated catastrophe losses, net of reinsurance, for 2017 Q2 is about $105 million on a pre-tax basis, reports Canada’s largest provider of property and casualty. On an after-tax basis, the estimated loss amounts to $77 million

News AppointmentsCatastrophesClimate ChangeInsurance

IBC congratulates City of Toronto on the creation of a chief resilience officer position

July 5, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is congratulating the City of Toronto “for its ongoing commitment to emergency preparedness” with the recent establishment of a chief resilience officer for the city. Last month, Tory announced that the position will be

News InsuranceMarkets / Coverages

Auto, cargo theft funding terrorist activity: Insurance Analytics Canada Summit speaker

July 4, 2017 Greg Meckbach, Associate Editor

The proceeds of cargo theft and auto theft are in some cases funding terrorist activity, while accident benefits fraud in Ontario continues to be a problem, an Insurance Bureau of Canada speaker suggested to attendees at the Insurance Analytics Canada

News CatastrophesConstructionInsurance

IBC applauds Toronto port lands flood protection funding

June 30, 2017 by Canadian Underwriter

Investments in flood mitigation will help make Toronto’s under-used Port Lands safer for mixed-use development, Insurance Bureau of Canada suggested Thursday in reaction to a June 28 announcement that the federal and provincial governments will contribute $1.185-billion towards a project