News

Children aged five to 14 accounted for about 60% of school-age victims of car/pedestrian collisions in the province, reports Manitoba Public Insurance (MPI).In total, there are 48 pedestrians from this age group injured each year in Manitoba, said Clif Eden,…

A Magnitude 7 earthquake rocked the New Zealand city of Christchurch on Sept. 4, causing estimated damages between $2 billion and $4.5 billion.New Zealand’s Institute of Geological and Nuclear Sciences (GNS Science) reported that the quake occurred at a shallow…

The third annual ‘Insurance Challenge,’ a bike ride to raise money for the Juvenile Diabetes Research Foundation, will take place in Toronto on Oct. 1. Hosting more than 7,400 participants from various financial sectors, the Ride for Diabetes Research will…

Alberta-incorporated property and casualty insurers nearly doubled their consolidated net income from $18.3 million in 2009 H1 to $31.9 million in 2010 H1.The figures reflect results reported by:• Alberta Motor Insurance Company;• Canadian Farm Insurance Company; • Fortress Insurance Company;•…

Gilbertson Davis Emerson LLP has recruited accident benefits and insurance defence counsel Joan Takahashi to its team of insurance lawyers.Takahashi previously practiced with a large firm in Toronto and nearly 20 years of insurance defence experience. She also spent more…

Members of the insurance industry are reminding consumers to not drink and drive during the Labour Day holiday weekend.In British Columbia, on average there are approximately 1,725 crashes, 515 injuries and five fatalities over the Labour Day weekend, ICBC reports.Police…

Canadian Direct Insurance has posted its third consecutive record quarterly profit, reporting a $3.6-million net income in 2010 Q3, up $300,000 from a year ago.“The strong results were driven by a 7% increase in net earned premiums, partially offset by…

Business Monitor International (BMI) is predicting premium growth in Canada’s property and casualty insurance industry will expand from $55.1 billion to $70.8 billion by 2014.“In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration…

An Ontario arbitrator found a man seriously injured in an auto accident to be ‘employed’ for the purpose of calculating income replacement benefits, even though his contract was oral and he did not work long enough at his new job…

Can-Sure Underwriting Ltd. has acquired Chutter Underwriting Services’ property division and its entire book of business.Bruce MacKinnon and John Woodcock, both partners at Chutter, will become members of Can-Sure’s senior management team.As of Sept. 1, 2010, all policy transactions are…

ICBC will reduce its basic insurance rates by 2.4%, beginning Nov. 1, 2010.The public insurer had applied to the British Columbia Utilities Commission (BCUC) for a 1.9% reduction.BCUC noted ICBC’s operating expenses were, on average, 2.8% lower than forecasted over…

Ontario’s auto insurance reforms took effect on Sept. 1, and government and insurance industry groups are encouraging consumers to educate themselves about the new regime.The reforms change the standard, mandatory auto insurance benefits package so that medical, rehabilitation and attendant…