IBC calls on select committee to reform auto insurance in New Brunswick
June 13, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is urging the provincial government to make changes to auto insurance in New Brunswick. In its submission to the Select Committee on Private Passenger Automobile Insurance in Fredericton, IBC has provided various models for…
Auto costs still higher in Atlantic Canada: Insurance industry financial results
June 4, 2002 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has released its most recent auto insurance financial results figures for 2000 and 2001 in the Atlantic Region confirming the continuation of losses being incurred on automobile insurance. “Costs are still on the rise…
A Twister, Turner
June 1, 2002 Sean van Zyl, EditorAlmost a year ago I attended the International Insurance Association (IIA) annual conference, which took place in Vienna, Austria. During the course of this business trip, I managed to sneak in a “city tour” of the city, which included a…
Customer Retention and Claims Technology
June 1, 2002 Colin Smith, vice president of eClaims at Castek Software Inc.As insurance consumers we are inundated with offers and incentives to buy insurance or to switch companies. Most of us stay right where we are until we are given an incentive to leave, which all too often comes in the…
ICBC reports $30.4 million loss in Q1 2002
May 10, 2002 by Canadian UnderwriterB.C.’s public insurer is reporting a net loss for the first quarter 2002 of $30.4 million. This compares with a loss of $39.1 million in the first three months of 2001 for the Insurance Corporation of B.C. (ICBC).However, only $9…
News (May 01, 2002)
May 1, 2002 by Canadian UnderwriterEnterprise Rent-a-Car hosted its Big “E”vent recently at the Toronto Marriott Eaton Center, with donations to the Toronto Food Bank. From left to right, Jill Lane, Tom Dahlin and Darrin Nikolaus of Enterprise donned their zoot suits to welcome guests…
SGI added to list of insurers being sued for auto deductibles
April 1, 2002 by Canadian UnderwriterSaskatchewan’s public insurer is the latest addition to class action lawsuits being filed against insurers following the McNaughton v. Co-operators decision.Since the Supreme Court refused to hear Co-operators appeal of an Ontario court decision that says policyholders should be refunded…
Insurers post dismal 2001 results as claims soar
April 1, 2002 by Canadian UnderwriterCanadian property and casualty insurers ended the 2001 financial year with a meager 3% return on equity, with the final quarter industry results showing an even worse picture of a mere 0.5% return. Speaking at the recently held annual Swiss…
News (April 01, 2002)
April 1, 2002 by Canadian UnderwriterCollision repair chain CARSTAR Canada announces the purchase of its Durham operation in Oshawa, ON. The acquisition comes following the passing of former franchise owner Bernie Hurst, who died in a car accident last fall. The Durham CARSTAR acquisition means…
IBC continues push for Newfoundland auto reform
March 21, 2002 by Canadian UnderwriterDespite a change in public attitudes towards tort reform in Newfoundland, the Insurance Bureau of Canada is continuing to push for changes to the auto insurance system there. In an address to the St. John’s Rotary Club, IBC regional vice…
“McNaughton” suits start to hit insurance industry
March 19, 2002 by Canadian UnderwriterIn the wake of the Supreme Court of Canada’s decision not to allow an appeal in the case of McNaughton v. The Co-operators General Insurance Company of Canada, similar suits are now being launched in Ontario and Alberta. The case,…
McNaughton v. Co-operators could spawn class action landslide
March 8, 2002 by Canadian UnderwriterThe victory of one policyholder in a case involving auto insurance deductibles could give rise to large numbers of Canadians seeking similar action against insurers. A Supreme Court of Canada ruling yesterday denies Co-operators General the right to appeal a…