News

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…

Flood risk assessment firm Ambiental Technical Solutions Ltd. announced Thursday the results of a survey of British homeowners, reporting that 72% of respondents do not check for flood risk when they buy a new house. In a press release, Ambiental…

A majority of Canadians are worried that the United States fiscal cliff could hurt Canada’s economy, according to a recent survey. A Sun Life Financial-commissioned Ipsos Reid study suggests 63% of Canadians are concerned about the fiscal cliff, or the…

Aon plc announced this week it is providing trip cancellation insurance for space tourists intending to travel on Lynx suborbital spaceplanes operated by Amsterdam-based Space Expedition Corp. (SXC). “This insurance policy provides coverage for losses related to flight cancellation, postponement…

Insurance Bureau of Canada (IBC) has released its annual list of the top 10 most frequently stolen vehicles in Canada, with the 2000 Honda Civic topping the list. Civics actually take up the top two places in this year’s list, perhaps unsurprisingly, as…

The New Brunswick government announced Wednesday its intention to spend $279.6 million on buildings, bridges, highways, rural roads and equipment in fiscal year 2013-14. “Our government is investing in strategic infrastructure which will help to build a stronger province and…

The Tropical Storm Risk consortium has predicted above-average hurricane activity in the Atlantic basin in 2013.  Its recent report, co-written by Mark Saunders and Adam Lea of the University College London (UCL)’s department of space and climate physics, uses forecasts…

FirstOnSite Restoration announced Wednesday it has developed its own software designed to let project managers compile site reports of damaged properties and generate electronic records for claims adjusters, plus work orders for construction and repair crews. The Mississauga, Ont.-based firm…