Keyword
Newfoundland and Labrador
Insurers applaud provincial decision to remove retail sales tax on insurance premiums
March 27, 2018 by Jason ContantNewfoundland and Labrador’s decision to remove 5% of the retail sales tax paid on auto insurance premiums over the next four years will help return stability to the market, the Insurance Bureau of Canada (IBC) said Tuesday. Tom O’Handley, manager…
For taxi drivers, mum’s the word on reporting losses
March 21, 2018 by David GambrillTaxi cab companies and drivers are not reporting losses promptly (or at all), thereby escalating taxi insurers’ claims costs in Newfoundland and Labrador, according to a taxi claims review submitted to the province’s Public Utilities Board. “The factor identified by…
Minor injury caps coming to Newfoundland?
November 17, 2017 Greg Meckbach, Associate EditorBrokers 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…
Elevated wildfire danger levels continue in Manitoba
September 1, 2017 by Canadian UnderwriterHot, dry and windy conditions continue in Manitoba, resulting in elevated wildfire danger levels in many areas of the province, Manitoba Sustainable Development and the Office of the Fire Commissioner said in a media bulletin issued on Friday. To date,…
Government of Newfoundland and Labrador finalizes terms of reference for auto insurance review
August 16, 2017 by Canadian UnderwriterThe 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…
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…
Cleanup, damage assessment begins in Atlantic Canada after torrential rains
October 12, 2016 The Canadian PressSYDNEY, N.S. – Communities in Nova Scotia and Newfoundland are facing a costly and lengthy cleanup from widespread flooding damage after a storm brought torrential rain to the region over the long weekend. Premiers in both provinces were scheduled to…
Marine, surety insurance policies among those exempt from Newfoundland and Labrador’s 15% retail sales tax on P&C premiums
May 2, 2016 by Canadian UnderwriterInsurance policies for marine, surety, guarantee or fidelity-type bonds, accident and sickness, and life will be exempt from Newfoundland and Labrador’s 15% retail sales tax (RST) on property and casualty insurance premiums, the Insurance Bureau of Canada (IBC) said on…
IBC launches Provincial Auto Theft Network program in Newfoundland and Labrador
April 26, 2016 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) announced on Tuesday that it has launched the Provincial Auto Theft Network (PATNET) program in Newfoundland and Labrador. The two-day PATNET training session in St. John’s, Nfld., which has drawn interest from law enforcement…
Newfoundlanders ‘will pay the highest taxes on insurance premiums in the country,’ says IBC VP
April 19, 2016 by Canadian UnderwriterWhen a 15% retail sales tax on property and casualty insurance policies takes effect this July in Newfoundland and Labrador, that province will have the highest taxes on insurance premiums in Canada, an Insurance Bureau of Canada official suggests. The…