Keyword
Ontario
Canada’s best province for flood risk management
June 20, 2018 by Greg MeckbachFive years after Albertans lost billions as a result of record floods, Ontario leads the nation when it comes to keeping properties out of high-risk areas, a catastrophe loss expert contends. “Ontario has been most aggressive at trying to make…
What the May 4 windstorm can teach the industry about catastrophe modelling
June 13, 2018 by Jason ContantRare events like the May 4 windstorm that primarily affected southern Ontario often cause the most damage, but are also the most difficult to generalize in catastrophe modelling predictions, according to a Canadian weather forecasting and research firm. “While the…
Should accident benefits for minor injuries be optional?
June 5, 2018 by Greg MeckbachShould greater choice in auto insurance for Ontario motorists include the ability of insureds to opt out of benefits for minor injuries? David Marshall, a special advisor to Finance Minister Charles Sousa, has questioned whether accident benefits should cover minor…
May windstorm largest insured event in Ontario in five years: CatIQ
June 1, 2018 by Jason ContantThe early May windstorm that struck Ontario and parts of Quebec topped $410 million, the costliest insured event since the 2013 Toronto floods, Catastrophe Indices and Quantification Inc. (CatIQ) said Friday. The majority of the damage from the windstorm –…
Ontario, Quebec wind storm to test industry capacity: Crawford
May 8, 2018 by Jason ContantThe wind storm that struck Ontario and Quebec on May 4 and 5 will significantly test the capacity of insurers, independent adjusters, call centres and restoration contractors, Crawford and Company (Canada) Inc. told Canadian Underwriter Monday. Generally speaking, wind claims…
A new way to manage identity theft risk
May 7, 2018 by Greg MeckbachA law intended to reduce the risk of identity theft, which is covered under some home insurance policies, is one step closer to reality in Ontario. Bill 8, the Access to Consumer Credit Reports and Elevator Availability Act, passed third…
Early April storm in Ontario, Quebec causes $85 million in insured damage
April 30, 2018 by Jason ContantA windstorm in early April is estimated to have cost insurers more than $85 million, mostly from home insurance claims in Ontario, according to Catastrophe Indices and Quantification Inc. (CatIQ). The April 4-5 storm brought severe rain and freezing rain,…
Ontario ice storm catches the eye of global reinsurance brokerage
April 20, 2018 by Greg MeckbachSevere weather earlier this week in Ontario has caught the attention of reinsurance providers. Impact Forecasting LLC, a unit of reinsurance brokerage Aon Benfield, noted Friday that winter weather starting April 13 “left considerable damage across southern sections of Canada’s…
Insurers consider weekend storm in Ontario Cat event
April 16, 2018 by Greg MeckbachRecent severe weather in Ontario, with six inches of ice pellets and winds exceeding gale force in some areas, will most likely be a CAT event, insurance companies report. But with rainfall warnings persisting Monday, one insurer reported more than…
Ontario auto insurance rates up in first quarter of 2018
April 16, 2018 The Canadian PressTORONTO – Auto insurance rates in Ontario increased in the first quarter of 2018, putting the Liberal government further away from its promise to cut rates by 15 per cent. The numbers released Friday by the Financial Services Commission of…
Tens of thousands without power in southern Ontario due to windstorm
April 4, 2018 The Canadian PressTORONTO – A powerful windstorm is sweeping through southern Ontario, knocking out power to tens of thousands of people and disrupting travel in the air and on the roads. Environment Canada has issued a wind warning for the region, saying…
Ontario budget 2018: What’s in it for the industry
March 29, 2018 by Greg MeckbachThe Ontario government’s 2018-19 budget document provides some comfort for auto insurers because the province is committing to having the new regulator up and running by April 2019. The Financial Services Regulatory Authority, which will effectively replace the Financial Services…