Topic
Mergers and Aqcuisitions
IBC disappointed with Newfoundland auto package
December 20, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is expressing dismay over the package of reforms to Newfoundland’s auto system introduced in Bill 28 this week. In a release, the IBC says the reforms will not help control the costs of auto…
Industry claims satisfaction rate rises for 2002
December 19, 2002 by Canadian UnderwriterWith the release of the 2002 Auto Claims Satisfaction survey from the Financial Services Commission of Ontario (FSCO), the industry saw its satisfaction level rise to 86%, its highest level since the survey’s introduction five years ago.Topping the survey was…
Ontario Collision Repair Standards Act passes
December 16, 2002 by Canadian UnderwriterThe act to place Ontario’s bodyshops under industry self-regulation was passed on the last night of the Ontario legislature’s sitting before Christmas break. The Collision Repair Standards Act of 2002 puts the collision, auto body and auto refinishing industries under…
Manitoba PUB orders 1% drop in rates
December 6, 2002 by Canadian UnderwriterFollowing a request from Manitoba Public Insurance (MPI) to keep rates the same in that province, the Public Utilities Board (PUB) has ordered a 1% reduction in basic public auto insurance rates. This represents the fifth year MPI has held…
Robert Cooke named new IBC chair
December 6, 2002 by Canadian UnderwriterAt the recently held Insurance Bureau of Canada (IBC) annual general meeting, outgoing chair George Cooke commended the bureau for the gains made over the past year in securing government dialogue on auto product reform countrywide. The greatest success has…
Auto insurance still topping IBC concerns
December 4, 2002 by Canadian UnderwriterDespite the introduction of new legislation to deal with some of the issues plaguing Ontario’s auto insurance market, and the decision not to open up B.C.’s auto market to competition, auto remains a top priority for the Insurance Bureau of…
Taking the Lash Out of Driving
December 1, 2002 Mary Lou Reilly, IBCAdjusting vehicle head restraints, or headrests, can help prevent the pain of whiplash, says a new Canadian study. The message for drivers: rest up and save your neck.
IBC unhappy with New Brunswick auto report
November 25, 2002 by Canadian UnderwriterA report on reforming New Brunswick’s auto insurance system is getting a chilly reception from the Insurance Bureau of Canada (IBC).Proposals to control auto rates in the province made by the Select Committee on Auto Insurance will, the IBC says,…
B.C. government stalls insurance deregulation drive
November 25, 2002 by Canadian UnderwriterThe Liberal B.C. government announced that it has temporarily opted against open competition in the province’s basic, mandatory auto insurance market.The provincial government delivered its long-awaited “Core Review” findings in investigating the operation of crown insurer, the Insurance Corp. of…
Co-operators cuts new business in Alberta
November 6, 2002 by Canadian UnderwriterThe Co-operators General Insurance says it will not accept new business at “preferred” auto rates in Alberta after November 1, 2002. In essence this means the Co-operators operation will no longer write the business, but will offer those clients rates…
Insurers defend new Ontario auto insurance legislation
November 4, 2002 by Canadian UnderwriterDespite criticism this past week by opponents to the recent auto insurance legislation reform measures brought into place in Ontario, the Insurance Bureau of Canada (IBC) holds firm that the actions taken will provide long-term cost benefits for policyholders. “the…
Ontario auto rates jump in third quarter
November 1, 2002 by Canadian UnderwriterApplications by Ontario private passenger auto insurers for rate increases in the third quarter 2002 were up 8.33% on average, compared with average increases of 5.9% in the second quarter.At September 30, 2002, the average cost of auto insurance was…