States of emergency were declared following heavy rains that led to floods in Southern Alberta and Saskatchewan, forcing the evacuation of hundreds of homes and causing a sinkhole on the Trans-Canada Highway.As much as 150 millimetres of rain fell in…
The Dominion of Canada General Insurance Company has launched a Web site ‘MyChoiceCarInsurance.ca’ to help Ontario auto insurance consumers understand the coverage options that will become available to them after the Sept. 1, 2010 auto reform implementation date.MyChoiceCarInsurance.ca features:• an…
U.S. property and casualty insurer financial impairments have more than tripled since 2007, reports A.M. Best.In contrast, regulators have not closed a Canadian insurance company during that time frame, confirms the Property and Casualty Insurer Compensation Corporation (PACICC).Eighteen property and…
Home and Garden Television (HGTV) and Home Depot are two main culprits responsible for the escalation of water damage claims costs, according to Will Cook, president of Belfor Restoration Services.These two cultural icons are fuelling the impulse to undertake an…
A motion for summary judgement to dismiss a liability case does not constitute a “mini-trial” and split a case so that it becomes a trial within a trial, the Ontario Superior Court ruled under the new Rules for Civil Procedure.In…
Having secured Finance Minister Jim Flaherty’s commitment to prevent banks from selling unauthorized insurance on their Web sites, the Insurance Brokers Association of Canada (IBAC) is concerned that banks have already responded by trying to promote insurance on consumer’s cell…
The Insurance Brokers Association of B.C. (IBABC) is collaborating with the province’s public insurer, the Insurance Corporation of British Columbia (ICBC), to introduce ‘Vision 2014,’ a plan to upgrade the public insurer’s technology and change its rating system from a…
The Insurance Brokers Association of Canada (IBAC) is gearing up for the 2012 Bank Act review, urging brokers to get politically involved in advance of the federal government’s mandatory five-year review of the legislation.“We have to be ready to represent…
The Insurance Broker Association of Saskatchewan (IBAS) is concerned about SGI’s proposed 35% reduction in broker commissions for online vehicle renewals.The public insurer has taken the position that online self-service or payment on any other transaction should result in savings…
A claimant does not have to be found to have engaged in fraud in order for a Financial Services Commission (FSCO) arbitrator to determine that the claimant lied about being in an automobile accident.In Azimi v Economical Mutual Insurance Company,…
Various policy and endorsement forms have been revised and updated by the Financial Services Commission of Ontario (FSCO) to reflect the automobile insurance reforms. Additionally, two new forms have been approved to allow policyholders to purchase coverage to offset the…
Auto injuries pending surgery – and which are therefore not “stable” – still count for the purpose of determining catastrophic impairments, according to a Financial Services Commission of Ontario (FSCO) arbitrator.In Sonia Bains and RBC General Insurance Company, Bains sought…