News
About one-quarter of B.C. homes have rental suites or converted coach houses
June 4, 2012 by Canadian UnderwriterNearly one-quarter of B.C. house owners rent out a portion of their home to non-family members, including basement suites in the residence and garages converted to “coach houses,” notes new research conducted by Square One Insurance. Square One surveyed 850…
IBC-commissioned research points to warmer temperatures, more wildfires and more intense storms in Canada by 2050
June 4, 2012 by Canadian UnderwriterCanada can expect to see warmer temperatures in the summer months by 2050, leading to an increase in wildfires, drought, water scarcity, lightning flash density and the risk of hailstorms. Parts of the country will see more intense winter storms,…
Canadian Hurricane Centre predicts average year for storms
June 4, 2012 by Canadian UnderwriterCanada’s hurricane forecasting agency says 2012 will see average storm conditions, with only “one or two” tropical cyclone events affecting the Atlantic provinces. The Canadian Hurricane Centre (CHC) predicts that storm frequency will reflect predictions of near normal hurricane activity…
State Farm-Ford, RSA-ingenie team up on telematics
June 4, 2012 by Canadian UnderwriterFord Motor Company is working with State Farm Insurance to use built-in vehicle technology, allowing joint customers to qualify for auto insurance discounts. In related news, RSA said it will provide underwriting capacity to ingenie, a telematics technology firm that…
Economical would prefer to demutualize through an IPO, if forthcoming regulations allow it
June 4, 2012 by Canadian UnderwriterEconomical has voiced its preference for an initial public offering (IPO) as part of its intention to demutualize, but no final decision will be made absent clear regulations. Currently, Canada does not have regulations allowing property and casualty mutual insurers…
Rain barrels offer old-fashioned solution to avoiding water damage
June 1, 2012 by Canadian UnderwriterA new study released June 1 by Insurance Bureau of Canada (IBC) and Wingham, Ontario concludes the humble rain barrel offers an old-fashioned solution to keeping home water damage down. The Wingham Rain Barrel Study began with 1,000 rain barrels,…
Companies using social media for business purposes need to be insured: ACE Canada
June 1, 2012 by Canadian UnderwriterThe business benefits of using social media are getting impossible to ignore, but a new paper and podcast from ACE Canada suggests lack of understanding around this new way of communicating can also put organizations at risk. “Be sure that…
Aviva data show theft season has begun
June 1, 2012 by Canadian UnderwriterSummer is here, bringing with it warm weather, time away from home and a spike in residential burglaries. Insurance claims data from Aviva Canada Inc. show the frequency of thefts on the home front during June, July and August are…
Saskatchewan Rate Review Panel recommends average Auto Fund rate hike of 0.6%
June 1, 2012 by Canadian UnderwriterThe Saskatchewan Rate Review Panel has recommended an overall average increase of 0.6% to Saskatchewan Auto Fund rates, effective Aug. 4, 2012. The panel is also recommending a temporary, two-year overall average rate surcharge of 1% to help replenish the…
CARSTAR seeks to reach $2 million fundraising milestone in ninth annual Soaps it Up for Cystic Fibrosis National Car Wash
June 1, 2012 by Canadian UnderwriterCARSTAR locations across the country are gearing up to wash a lot of cars during the ninth annual Soaps It Up for Cystic Fibrosis National Car Wash Fundraiser on June 9, an event expected to propel CARSTAR locations across the country…
IBC deploys CAMP to Thunder Bay
May 31, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has deployed its Community Assistance Mobile Pavillion (CAMP) to Thunder Bay after the city was swamped by 91 mm of rain in just 18 hours. CAMP is a national program that provides disaster victims with…
Co-operators quotes now available through Kanetix
May 31, 2012 by Canadian UnderwriterCar insurance quotes from The Co-operators are now available to Ontario drivers online through Kanetix.ca’s car insurance quote comparison service. “With the addition of The Co-operators, we are able to offer Ontario drivers more options than ever before,” says Janine…