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Brokers
Premier urges New Brunswick town not to let guard down after water levels recede
April 17, 2014 By Kevin Bissett - THE CANADIAN PRESSSUSSEX, N.B. – Water levels in many parts of New Brunswick receded Thursday but Premier David Alward and Emergency Measures officials urged residents not to let their guard down because of a potential for more dangerous flooding. Alward spent the…
Half of Quebec home insurance policyholders think they’re covered for overflowing body of water: survey
April 17, 2014 by Canadian UnderwriterOne in two Quebeckers surveyed erroneously believe their home insurance policy covers them against damage from an overflowing body of water while 65% of respondents did not believe their homes were at risk from sewer backup, earthquake, wind or hail.…
Mutuals face increasing pricing pressure, must differentiate themselves: Willis
April 17, 2014 by Canadian UnderwriterMutual insurers looking to remain competitive in the wake of enormous pricing pressure must differentiate themselves, David Thomas, CEO of market services and solutions for Willis, recommends in a new video blog. “In this environment, (mutuals) must emphasize how they…
‘Actuary’ ranked high on list of best jobs, with underwriting further down
April 16, 2014 by Canadian Underwriter“Actuary” has been listed among the top five best jobs in a ranked list from U.S. job search website CareerCast, although other insurance industry positions weren’t as close to the top of the list. Of 200 careers, actuary listed as…
Ontario auto insurance approved rates decline in first quarter
April 16, 2014 by Canadian UnderwriterApproved rates for private passenger auto insurance declined on average by 5.01% during the first quarter of the year, the Financial Services Commission of Ontario has reported. That figure is for the 14 insurers’ rate filings that were approved during…
Ontario’s proposed towing legislation a good first step: IBC
April 16, 2014 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has lent its support to draft legislation tabled by the Ontario government Tuesday meant to combat auto insurance fraud by aiding disclosure and enhancing transparency for consumers requiring towing services. Characterizing the Roadside Assistance…
Lloyd’s publishes updated strategy as part of 2025 vision
April 15, 2014 by Canadian UnderwriterLloyd’s of London has published a new strategy outlining its plans for 2014 to 2016 as part of its overall vision for 2025, which was originally set out two years ago. “We all know that Lloyd’s has an extraordinary opportunity…
Ontario to regulate tow trucks, require posted rates, customer permission to tow
April 15, 2014 THE CANADIAN PRESSTORONTO – Ontario’s Liberal government is promising tough new measures to protect consumers from being ripped off by unscrupulous tow truck drivers and storage companies. Consumer Services Minister Tracy Charles says she’s heard too many stories about tow truck drivers…
Water levels predicted to rise on Moira River in Ontario
April 15, 2014 by Canadian UnderwriterQuinte Conservation warned Monday that water levels in some communities on the Moira River in eastern Ontario will continue to rise. “Water levels in the hardest hit areas of Foxboro and Corbyville in the City of Belleville and the vicinity…
Carriers ‘mitigating’ flood exposure after 2013 Alberta disaster: Western Financial CEO
April 14, 2014 Greg Meckbach, Associate EditorIn the aftermath of last year’s floods in southern Alberta, home and commercial insurance carriers are changing their policies, and a major reinsurer is calling on all stakeholders to come up with workable flood coverage. Jeff Burke, president and chief…
ICBC to refund $39 million in optional insurance policy over-payments
April 14, 2014 by Canadian UnderwriterThe Insurance Corporation of British Columbia has identified several thousand customers who have overpaid on their optional auto insurance because of incorrect vehicle descriptions. Overall, ICBC will be issuing refunds totaling around $36 million, plus $3 million in interest based…
Belleville firefighters busy with sandbags as river rises; outdoor fires banned
April 13, 2014 The Canadian Press (CPSTF)BELLEVILLE, Ont. – Belleville’s firefighters are so busy helping with sandbagging efforts due to flooding that an outdoor burning ban has been brought in to help prevent fires. Deputy fire chief Bruce Greatrix says residents of rural areas around the…