Claims
Auto insurance rates in Ontario have dropped 4.66% on average since August 2013, Ontario’s Ministry of Finance said Wednesday. Its announcement came a day after a news report citing unnamed sources that said rates had decreased 4% since the Liberal government announced plans for a 15% on average reduction within two years (by August 2015) […]
By Canadian Underwriter | January 15, 2014
2 min read
Canadian National Insurance Crime Services (CANATICS), a non-profit focused on fighting insurance crime, has closed a five-year deal with an analytics service based in the United Kingdom to use for pooled industry data. “We chose BAE Systems Detica as our partner because they have the knowledge, skills and services to give the Canadian auto insurance […]
1 min read
The Court of Appeal for Saskatchewan recently ruled against Saskatchewan Government Insurance in deciding that the carrier must pay some of the ongoing operating costs of a lap pool used by a vehicle accident victim for rehabilitation. Dennis Scott was injured Dec. 23, 2005 after his vehicle hit a moose. He was rendered an incomplete […]
5 min read
WASHINGTON – Homeowners worried that new federal flood maps will send their flood insurance premiums skyrocketing would get some short-term relief under a provision tucked into a massive government-wide funding bill. But other changes to the federal flood insurance program, including higher premiums on businesses, vacation homes and frequently flooded properties will remain in place, […]
3 min read
CANBERRA, Australia – Dozens of wildfires sparked by lightning strikes overnight were raging in heat wave conditions across rural southern Australia on Wednesday. Firefighters were able to contain most of the fires in South Australia and Victoria. But authorities warned of worsening fire conditions on Friday, when winds were expected to gather pace. South Australia […]
Several businesspeople and public officials have joined a new risk committee, conducting an analysis of the economic risks of climate change in the United States. The new group was formed through the Risky Business initiative, co-chaired and founded in part by former New York City mayor Michael Bloomberg, former Goldman Sachs head Hank Paulson and […]
By Canadian Underwriter | January 14, 2014
An American congressman recently tabled legislation that, if passed into law, would repeal existing legislation that requires the United States National Flood Insurance Program (NFIP) – which is at least US$28 billion in debt – to increase premiums for some older properties in high-risk areas. NFIP was introduced in 1968 to enable residential and commercial […]
Three Toronto-area rehabilitation clinics have been convicted of several offences, resulting in maximum fines of $100,000 per conviction, the Insurance Bureau of Canada said Tuesday. The convictions come after co-operative investigation efforts from IBC’s investigative services division, multiple insurers, police and the Financial Services Commission of Ontario (FSCO), IBC said in a news release. Rick […]
OTTAWA – The railway industry wants to “aggressively phase out” older model tank cars that have been implicated in several recent accidents, the head of CN Rail’s safety division told an industry forum Monday. But the consensus at the day-long workshop was that there’s no quick fix for a decades-old problem that has almost 80,000 […]
Natural catastrophes are a major risk affecting Canadian companies, but there is a broader range of risks in 2014 than in the past that demand attention, suggests Kevin Leong, CEO of Allianz Global Corporate & Specialty SE (AGCS) Canada. Natural catastrophes, business interruption(BI)/supply chain, pollution, legislative and regulatory changes, and loss of reputation/brand value represent […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
