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Insurance Bureau of Canada
Difficult year for Canada’s p&c insurance industry: IBC’s McGown
April 4, 2017 by Angela StelmakowichThe Fort McMurray wildfire and other large weather events combined with the lowest return on investment (ROI) in decades to produce a very difficult year for Canada’s p&c insurance industry in 2016, David McGown, senior vice president of strategic initiatives…
B.C. announces more than $8 million in flood protection in latest round of investments
April 3, 2017 by Canadian UnderwriterBritish 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…
Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor
March 31, 2017 by Angela StelmakowichThere are encouraging signs from government, municipalities and builders that resiliency needs to become part of building code conversations given that severe weather shows no signs of abating, suggested John Taylor, president and CEO of the Ontario Mutual Insurance Association…
Landmark federal investments for disaster-proofing communities, enhancing resilience: IBC
March 23, 2017 by Canadian UnderwriterInsurance 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,…
B.C. government invests over $10.5 million in Fraser Valley flood mitigation
March 23, 2017 by Canadian UnderwriterThe 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…
IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government
March 15, 2017 by Canadian UnderwriterInsurance 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…
Aviva Canada applauds bill to address distracted driving through creation of designated “safe texting zones”
March 10, 2017 by Canadian UnderwriterAviva 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…
IBC welcomes Newfoundland and Labrador government’s legislation aimed at reducing impaired driving
March 3, 2017 by Canadian UnderwriterThe 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…
IBC congratulates federal government on National Research Council decision to update Canada’s building codes
February 28, 2017 by Canadian UnderwriterThe 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…
Insurance Bureau calls on Ontario to implement file-and-use process for private passenger auto, allow e-signatures
February 7, 2017 by Canadian UnderwriterThe 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…
Severe weather, nat-cats cause record insurable damage in Canada: IBC/CatIQ
January 6, 2017 by Canadian UnderwriterSevere 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…
Courts should not use ‘second-hand lay evidence’ to support damage awards for psychological harm: IBC
January 4, 2017 by Canadian UnderwriterThe question of whether a court can award compensation for psychological injuries in the absence of a medical diagnosis will be considered this month when the Supreme Court of Canada hears an appeal arising from an auto collision near Vancouver.…