News

The Canadian Association of Insurance Reciprocals has recently formed to serve as the collective voice of insurance reciprocals across Canada.The not-for-profit association’s mandate includes raising awareness of the value of insurance reciprocals and representing its members’ interests to governments, and…

Climate change is causing wildfires to burn more fiercely, pumping more greenhouse gases into the atmosphere than previously thought, according to a new study by researchers at the University of Guelph. Researchers looked at fire records kept since the 1950s…

McLarens Canada, a full-service national claims management firm, has acquired Upper Canada Adjusters Inc.Upper Canada Adjusters Inc. was established in 1995 and has a broad client base ranging from commercial insurers to self-insured corporate clients. McLarens Canada currently has 45…

The CG&B Group Inc. has acquired D. M. Edwards Insurance Group Limited and Car Insurance Brokers of Canada Inc., effective Dec. 2, 2010.In a release, The CG&B Group Inc. says “Edwards Insurance and Car Insurance Brokers have been pioneers in…

A study of fatal car crashes in Canada from 2000-2007 shows more drivers who were 18-or-under had drugs in their system as opposed to alcohol (30.4% versus 29.6%), reported Allstate Insurance Company of Canada.Allstate partnered with MADD to offer a…

Damage estimates related to severe weather events and one earthquake in Canada likely topped $700 million in 2010, extrapolating from information contained in Aon Benfield’s November 2010 Monthly Cat Recap report.The report lists damage estimates, both insured and uninsured, related…

The Ontario Association of Chiefs of Police (OACP) and Insurance Bureau of Canada (IBC) are launching ‘Lock It or Lose It,’ a crime prevention program encouraging citizens to take a few simple precautions to prevent vehicle theft.  In partnership with…

Zurich Financial Services Group (Zurich) has announced plans to reducing its total expenses (excluding commissions) by 5% or $500 million on a run-rate basis by 2013.Included in this general group target, Zurich said it plans to reduce expenses in its…

Fresh on the heels of tripling its minor injury cap from $2,500 to $7,500, the Government of Nova Scotia has launched an independent review of the province’s automobile insurance system.The government said the mandate of the review is to “ensure…

Alberta’s Superintendent of Insurance announced a series of legislative changes extending the liability cap of $1 million that exists for rental and leasing companies to people selling or financing vehicles through formal arrangements. The legislative changes come into force on…

SUV bumpers that don’t line up with those on cars can increase the severity of a claim in what should be a minor collision in stop-and-go traffic, reports the Insurance Institute for Highway Safety (IIHS).Car bumpers line up reasonably well…

Windstorm scenarios outlined in the most recent Solvency II quantitative impact study (QIS5) are roughly in line with loss estimates produced by the major vendor models, Guy Carpenter reports.In Solvency II Update: QIS5 Windstorm Scenarios are Within Range of Industry…