News
Canadians embracing ‘self-serve’ insurance options, but still value broker contact
September 27, 2011 by Canadian UnderwriterCanadians are researching their personal insurance online, but fewer are completing the transaction online, Robert Merizzi, executive vice president and chief information officer at Aviva Canada, told delegates at the National Insurance Conference of Canada (NICC). Merizzi spoke during the…
Pendulum of regulation in Canada is ‘swinging too far’: IBC president
September 26, 2011 by Canadian UnderwriterSpeaking about the dangers inherent in a risk-by-risk review of capital charges for property and casualty insurers, the regulatory pendulum in Canada is swinging too far towards the ‘overregulation’ part if the spectrum, according to Canada’s property and casualty insurers…
Auto theft being used to fund terrorist activity: IBC
September 26, 2011 by Canadian UnderwriterEvidence suggests auto theft in Canada is being used to fund international terrorist activities, Rick Dubin, vice president of investigative services at the Insurance Bureau of Canada (IBC), told delegates of the National Insurance Conference of Canada (NICC). Although auto…
Provincial regulators likely to increase focus on regulating market conduct
September 26, 2011 by Canadian UnderwriterProvincial regulators will likely put more focus on regulating market conduct of insurers, according to Doug McLean, executive director of British Columbia’s Financial Institutions Commission’s insurance department.McLean spoke as a panelist at the National Insurance Conference of Canada (NICC) in…
Intact closes deal with AXA Canada, announces sale of AXA Life Insurance to SSQ Life Insurance
September 26, 2011 by Canadian UnderwriterIntact Financial Corporation (TSX: IFC) has officially completed its $2.6-billion acquisition of AXA Canada, the country’s sixth-largest provider of home, auto and business insurance in the country. “The completion of this transaction represents a defining milestone in the history of…
IBAC president Dale Rempel calls for brokers to reach out to new MPs
September 26, 2011 by Canadian UnderwriterCanada has a new majority government, and the challenge now is for brokers to make themselves known to the new Members of Parliament, Insurance Brokers Association of Canada (IBAC) president Dale Rempel says.Rempel succeeded IBAC past president Fraser Lyle at…
Ontario declines to import U.S. Stonewall principle in a Canadian asbestos product liability case
September 23, 2011 by Canadian UnderwriterThe Ontario Superior Court of Justice has declined to import the U.S. court’s Stonewall decision into an asbestos claims case launched in Ontario, meaning insurers are not the hook for asbestos claims made against Goodyear Canada after 1986, when insurance…
Alberta 4H Council adopts mandatory helmet rule for young and beginning horse riders
September 23, 2011 by Canadian UnderwriterAlberta 4H Council has approved a change that requires mandatory helmets for all beginning horse riders and any horse riders born in 2000 or later (11 years and younger).The main goal of the new rule is rider safety, including an…
CCIR revises mission statement to reflect its role as advisor, not policy maker
September 23, 2011 by Canadian UnderwriterThe Canadian Council of Insurance Regulators has revised its mission statement to reflect the fact that its role is not to create harmonized laws across Canada, but rather to serve as advisors to the policy makers in the various jurisdictions…
The Co-operators offers tips to lessen risk of home theft and invasion
September 23, 2011 by Canadian UnderwriterThe Co-operators has released a list of tips for homeowners to reduce the risk of home invasion or theft. The tips include:•Give your home the lived-in look, set automatic timers for lights and radios, for periods when no one is…
Nova Scotia’s utility board approves Facility Association’s request for cost of capital provision
September 23, 2011 by Canadian UnderwriterNova Scotia’s Utility and Review Board has granted the Facility Association permission to modify its rates and risk-classification system for miscellaneous vehicles.Miscellaneous vehicles include motorcycles, mopeds, and all-terrain and snow vehicles.The Facility Association had applied to the board in August…
Crashes number one cause of work-related deaths in BC
September 22, 2011 by Canadian UnderwriterCrashes are the number one cause of work-related deaths in British Columbia, according to WorkSafeBC statistics. Approximately 30 workers, on average, in B.C. are killed each year while driving, and distracted driving, such as cellphone use, is a key factor…