News
Insurance policies in Oklahoma should remain in place after tornadoes, storms
May 27, 2013 by Canadian UnderwriterConsumers affected by the tornado and severe storms in central Oklahoma need time to recover and holding off on all insurance non-renewals, cancellations and terminations will offer some small comfort in that regard, John Doak, Oklahoma’s insurance commissioner said Friday.…
Large U.S. storm system estimated to cost $2-$5 billion: EQECAT
May 24, 2013 by Canadian UnderwriterInsured property losses are expected to range from $2 to $5 billion for a storm system that moved across central United States from May 18 to May 20, according to EQECAT. The tornado that tore through Moore, Okla. has caused…
Cargo theft on the rise in Canada, U.S.: report
May 24, 2013 by Canadian UnderwriterCargo theft is on the rise in Canada, although the United States remains one of the countries most at risk for that crime, according to a recent report from FreightWatch International. The U.S. reached a new record for cargo theft…
New York area transit agencies get $3.7 billion in new Sandy recovery funds
May 24, 2013 by Canadian UnderwriterPublic transit systems in the northeastern United States that were damaged and flooded by the storm resulting from Hurricane Sandy will get a total of $5.7 billion in federal disaster relief funds to recover from the storm and to better…
New Brunswick makes changes to off-road vehicle legislation
May 24, 2013 by Canadian UnderwriterThe New Brunswick government has proposed changes to the Off-Road Vehicle Act in the province, aimed mainly at improving safety. The government is proposing changes including: Expanding the definition of “all-terrain vehicle” to include side-by-side off-road vehicles, utility vehicles and…
Environment Canada urges Canadians to prepare for active hurricane season this year
May 24, 2013 by Canadian UnderwriterEnvironment Canada is urging the public to be prepared for hurricane season, as this year’s outlook has forecasted 13 to 20 named storms. Seven to 11 of those storms could become hurricanes, including three to six major hurricanes (Category 3,…
Scottie’s tissue manufacturer appeals to Supreme Court in quest to pursue subrogated claim over warehouse fire
May 24, 2013 by Greg Meckbach, Associate EditorA Canadian manufacturer of paper towels and personal tissue this week completed its application to the Supreme Court of Canada for leave to appeal a ruling which disallowed a subrogated claim against the operator of a Vancouver area warehouse. Kruger…
New Brunswick government proposes consolidated financial services commission
May 23, 2013 by Canadian UnderwriterThe New Brunswick government announced Thursday its intention to consolidate regulation of financial services, including insurance, under one independent agency. “As our government stated in the 2011 Speech from the Throne, we have been studying the feasibility of creating a…
NOAA forecasts ‘active or extremely active’ 2013 Atlantic hurricane season
May 23, 2013 by Canadian UnderwriterThe National Oceanic and Atmospheric Administration issued its Atlantic hurricane season outlook Thursday, predicting an active or extremely active storm season this year. For the six-month season, which begins June 1, the NOAA’s Climate Prediction Center said there is a…
Ontario brokers urge young drivers to stay sober this summer, as impaired driving incidents increase
May 23, 2013 by Canadian UnderwriterMore than 90,000 impaired driving incidents were reported by police in 2011 in Canada, up by roughly 3,000 over the year prior, the Insurance Brokers Association of Ontario noted this week as part of an ongoing safety campaign aimed especially…
Washington, D.C., Virginia Beach risky road trip destinations based on crash data
May 23, 2013 by Canadian UnderwriterWashington, D.C. and Virginia Beach are among the riskier summer road trip destinations based on auto collision data, according to analysis from Erie Insurance. The Pennsylvania-based insurer looked at 10 popular vacation destinations and ranked them in terms of crash…
Net income drops, direct written premiums rise at Desjardins General
May 23, 2013 by Canadian UnderwriterDesjardins General Insurance Group announced Thursday its financial results for the three months ending March 31, reporting net income of $25.4 million on direct written premiums of $482.4 million. The Levis, Quebec-based property and casualty carrier said first quarter net…