Claims
Ontario drivers would see auto insurance rates go up, and skyrocket in some parts of the province, if legislative amendments proposed by the NDP get the green light, a Liberal MPP suggests — a claim the NDP denies. Banning the use of territory as a rating factor to determine auto insurance rates would negatively impact […]
By Canadian Underwriter | April 30, 2012
2 min read
The Financial Services Commission of Ontario (FSCO) has issued a number of consumer warnings over the past few weeks, publicizing the names of unlicensed insurance brokerages and releasing details of fraudulent insurance card scams. In unrelated posts, FSCO has cautioned that Ottawa Insurance Broker Services is not licensed to do insurance business in Ontario as […]
Accident benefits costs in Metro Toronto and the Greater Toronto Area (GTA) have been identified as an area of concern, but ongoing efforts seem to be helping rein in costs. The increase in accident benefit costs in the GTA dwarfed the provincial experience. Between 2006 and 2010, related costs in the GTA increased 169% compared […]
By Canadian Underwriter | April 27, 2012
1 min read
Relatively few Canadian businesses have adopted a structured and explicit approach to incorporating climate change risk management and adaptation into their regular business activities, notes a recent study by the National Round Table on the Environment and the Economy (NRT). The federal government established the NRT in 1988 to play an advisory role on sustainable […]
Canadian insurers saw total insured losses soar to $1.5 billion last year as a result of catastrophes. The total is substantially higher than the $860 million in 2010, Joel Baker, president and CEO of MSA Research Inc., told attendees at CIP Society Symposium 2012 in Toronto on Apr. 26. While losses were high on the […]
A committee of the Ontario legislature has voted to conduct a “fair and balanced study” into auto insurance industry practices and trends. The Standing Committee on General Government passed a motion on Apr. 16 to strike the select committee, which will hold public hearings and propose recommendations to the minority government. The motion was presented […]
By Canadian Underwriter | April 26, 2012
The Insurance Bureau of Canada (IBC) is keeping a watchful eye on the impact of Ontario’s 2010 auto insurance reforms and ongoing related initiatives, urging the provincial government to act quickly on its commitments to amend the catastrophic impairment definition and Minor Injury Guideline. Ontario committed to a new definition of a catastrophic impairment in […]
By Canadian Underwriter | April 25, 2012
Saskatchewan motorists who drive environmentally friendly vehicles will no longer be receiving a provincial rebate. Saskatchewan Government Insurance (SGI) has cancelled the break on auto insurance for hybrid and fuel-efficient vehicles, first launched in 2008. SGI’s decision attracted some criticism from the Saskatchewan NDP, which argued in the provincial legislative assembly the program provided incentive […]
The Insurance Corporation of British Columbia (ICBC) is seeking essential service designation for specific claims, insurance and driver-licensing functions, loss of which the ICBC argues could put residents at risk should staff decide to strike. The Canadian Office & Professional Employees Union (COPE) gave notice to bargain on Apr. 21, 2012, a process expected to […]
By Canadian Underwriter | April 24, 2012
It was all the wrong moves for a British Columbia woman who claims her right hip and leg injuries resulted from being negligently physically manipulated by an instructor during a yoga class in April 2010. Amanda Jones, a lifeguard and fitness instructor, filed a notice of civil claim in the Supreme Court of British Columbia […]
By Canadian Underwriter | April 23, 2012
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