News

The Ontario government is increasing support for critical road, bridge, water and wastewater projects under its Municipal Infrastructure Strategy, a move sure to garner support from insurance industry and municipal representatives alike. The increased investment — up substantially from the…

Many Canadian drivers may not be taking all the precautions they can to stay safe and keep calm on the winter roads, suggest the results of a recent poll from TD Insurance. According to the TD Insurance Winter Driving Poll,…

After casting more than 2.8 million votes, Canadians have chosen the top 30 finalist ideas for this year’s Aviva Community Fund competition.  Created by home and auto insurer Aviva Canada and now in its fourth year, the Aviva Community Fund…

The insurance industry, which faces average climate-related losses of approximately $50 billion annually, is enhancing efforts to manage associated risks, notes a new study out of the United States. “Weather- and climate-related insurance losses today average $50 billion a year.…

Willis Energy has introduced insurance facility to cover the new risks associated with decommissioning and dismantling offshore oil and gas platforms, a need expected to increase as installations reach the end of their productive lives. “Major platform operators and leading…

The Manitoba government has reached an agreement with the federal government and the Little Saskatchewan First Nation to move a number of remaining flood evacuees to higher ground early in the new year. The agreement provides 40 new homes for…

The Royal Bank of Canada recently announced the results of a poll of parents and teenagers, noting that 79% of parents responding said their teenaged children engage in some form of distracted driving. One in four of the parents said…

Research indicates a lower percentage of Canadians are driving after drinking but more work needs to be done, according to a recent report co-sponsored by Aviva Canada and published by the Traffic Injury Research Foundation (TIRF). TIRF’s Road Safety Monitor…

Three-quarters of North American insurers say they believe usage-based insurance (UBI) will fundamentally alter the auto insurance industry between now and 2020, according to results from a recent survey. Strategy Meets Action (SMA), an insurance strategic advisory firm, released its…

Banks carry more systemic risk than the insurers, with greater exposure to credit default swaps and derivatives with a greater reliance on short-term borrowing, according to a recently released report from The Geneva Association.  In a press release, the Geneva-based…

Fitch Ratings has maintained its stable outlook for both the commercial and personal lines sectors of the U.S. property and casualty insurance industry, the firm said Thursday.  “Insurers have withstood less favorable underwriting and economic conditions in the past several…

Ignition interlock use will now be a requirement for all convicted impaired drivers who want to drive legally following their licence suspension, Manitoba’s justice minister Andrew Swan announced Thursday.  The new rules come into effect on Dec. 15 and will…