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How the public currently views the insurance industry

August 24, 2020 by Adam Malik

After a sharp drop, people are starting to feel a bit more positive towards the insurance industry. As the COVID-19 pandemic grew, the insurance industry’s image as a whole suffered. But, says a recent report, things are trending upwards once

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How high cat losses could go this year

August 4, 2020 by Adam Malik

Alberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come

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What the P&C industry must do to fight auto insurance fraud

July 31, 2020 by Adam Malik

Collaboration within the Canadian P&C insurance industry is key to fighting fraud, but this is tricky because of data sharing and privacy concerns. Fraud concerns have become more pronounced during the novel coronavirus pandemic. P&C industry experts have warned that

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P&C insurers can handle severe weather events, but for how long?

July 27, 2020 by Adam Malik

Canadian property and casualty insurers should be able to manage well financially for the time being, despite currently dealing with a pandemic and the fourth-most expensive natural catastrophe in the country’s history, says global credit rating agency DBRS Morningstar. However,

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Why thieves love the older models of Ford pickup trucks

December 5, 2019 by Adam Malik

Ford trucks once again topped the list of most-stolen vehicles in Canada, according to the latest report from Insurance Bureau of Canada (IBC). But the thieves don’t want the new models: it turns out that nine of the 10 most

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Which way is winter tire usage trending in Canada?

November 21, 2019 by Adam Malik

Canadians are getting the message when it comes to the importance of driving with winter tires, a new study has found. But Insurance Bureau of Canada warned that more than just strapping them to your car is enough to ensure

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What else needs to be paired with the new traffic enforcement plan?

November 18, 2019 by Adam Malik

Toronto’s top cop has admitted that having fewer traffic officers has led to an increase in collisions and deaths on city streets. Insurance industry data backs that up, and Insurance Bureau of Canada (IBC) hopes a concerted effort that includes

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What the Liberal minority government means for insurers

October 22, 2019 by Adam Malik

Something good may be in store for the property and casualty insurance industry as a result of the federal election Monday night. With the re-election of the federal Liberal party, albeit a minority, the stage is set for the speedy

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This auto rating factor could give brokers a headache

September 26, 2019 by Greg Meckbach

British Columbia’s auto insurer has one rating factor that makes sense from an underwriting point of view, but could be onerous for brokers, an insurance defence lawyer suggests. The Insurance Corporation of British Columbia requires motorists in the province to

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$30-billion sticker shock for OSFI’s proposed reinsurance rules

September 24, 2019 by David Gambrill

Canada’s property and casualty industry would have to post an additional $21 billion to $30 billion in capital to insure Canadian risks if the country’s solvency regulator moves forward with proposed new rules as currently drafted, the industry warns. On

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Why the brewing battle over vehicle data ownership matters to insurers

August 28, 2019 by Adam Malik

Collision claims are approaching “a new era” of data collection, intensifying the debate between the insurance industry and vehicle manufacturers over who owns the data. Thanks to the advent of connected vehicles, data generated in these cars provide valuable information

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Digital pink cards get green light in third province

August 13, 2019 by Adam Malik

A third Canadian province has been given the go-ahead for electronic proof of insurance for drivers. The Alberta government gave the OK for drivers to show their pink cards in a digital format through their smartphone this week, following the