Claims
Canada’s property and casualty industry needs to be innovative, but the regulatory enviornment must not grow so complex that it jeopardizes the promise to protect Canadians and pay claims, Don Forgeron, president and CEO of the Insurance Bureau of Canada (IBC), suggested during an industry event on Wednesday. “Not only is the regulatory environment complex, […]
By Canadian Underwriter | April 18, 2013
2 min read
Global insurance rates continued to firm on average in the first quarter of 2013, following a trend established over the previous 18 months, according to figures released in Marsh’s latest Global Insurance Market Quarterly Briefing. Many parts of the world had, in general, a stable rate environment, according to Marsh. Most major insurance lines saw rate […]
By Canadian Underwriter | April 17, 2013
The Manitoba government has announced a planned increase to the provincial sales tax in its budget for 2013, as part of a plan that would address flood protection and upgrades to infrastructure in the province. The proposed increase in PST from 7% to 8% – part of the government’s new Manitoba Building and Renewal plan […]
In Ontario, distracted driving-related fatalities surpassed impaired driving fatalities in 2012, according to the Ontario Provincial Police. Within the OPP’s jurisdiction, the police say 83 people were killed in motor vehicle accidents and close to 16,000 distracted driving charges were laid. Officers continue to see careless drivers texting, talking and engaging in various forms of […]
By Canadian Underwriter | April 15, 2013
Forest fire season in New Brunswick began Monday, and the provincial government is urging residents to take precautions to make sure fires aren’t “carelessly ignited.” Last year, 344 fires burned 362 hectares of forest land in New Brunswick, according to the province’s Department of Natural Resources. A 24-hour toll-free Burning Permit Information line will operate […]
1 min read
Nearly a year after the United States Corn Belt had its driest June-July in 75 years, a U.S. think tank says moderate or exceptional drought covered more than half the continental U.S. last week. Meanwhile, the National Weather Service is predicting an “elevated chance” of below-average precipitation this spring for parts of the southern and […]
3 min read
Research out of the United Kingdom that considered hundreds of thousands of hydraulic fracturing operations indicates these produced only a handful earthquakes that could be felt on the surface, but that the fracking process has the potential to reactivate dormant faults. Fracking involves water or other fluids being injected at high pressure below the earth’s […]
Two small earthquakes were felt in Canada early this week, off the coast of British Columbia and in Quebec, although no damage is expected. On Sunday, shortly after 3 pm PDT, a 4.5-magnitude quake was lightly felt in Skidegate, a Haida community in Haida Gwaii, B.C., and the Village of Queen Charlotte, according to Earthquakes […]
The British Columbia government has announced $584 million over three years to seismically upgrade 45 high-risk schools, as part of an ongoing program to address school buildings throughout the province that are in risk areas. “This investment means parents sending their kids to 45 more high-risk schools know they will be able to withstand a […]
By Canadian Underwriter | April 12, 2013
The Atlantic hurricane season is likely to have an above average number of major hurricanes making landfall on the eastern United States coastline and Caribbean, according to a prediction from researchers at Colorado State University. “Coastal residents are reminded that it only takes one hurricane making landfall to make it an active season for them, and […]
By Canadian Underwriter | April 11, 2013
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