Industry
The 2000 model of Honda’s two-door Civic SiR was the most stolen vehicle in 2010, according to the Insurance Bureau of Canada (IBC).Each year, IBC releases its Top-10 list of most stolen cars. The remainder of the IBC’s 2010 list is as follows:• 1999 Honda Civic SiR 2-door• 2002 Cadillac Escalade 4-door 4WD• 2004 Cadillac […]
By Canadian Underwriter | December 16, 2010
1 min read
Global natural catastrophes accounted for $38 billion of insured losses in 2010, according to Aon Benfield. Three hundred and fourteen separate events in 2010 contributed to this loss total. This activity is far higher than in the previous three years, and nearly doubles the activity in 2009, the Annual Global Climate and Catastrophe Report reveals. […]
Peter M. Burns will formally become the president of the Insurance Brokers Association of Ontario (IBAO) on Jan.1, 2011.He was officially inducted during the IBAO Convention in October. Burns is currently the president of Burns, Demeyere & Associates in Tillsonburg, Ontario. He began his insurance career in 1991 at a small insurance and financial services […]
The Gulf Coast Claims Facility (GCCF), an arms-length administrator of claims related to the BP oil spill, has paid out almost $2.5 billion for just over 166,000 claims as of Dec. 13, 2010.The claims followed an oil spill in the Gulf of Mexico in April 2010, when BP’s Deepwater Horizon oilrig exploded and sank. According […]
By Canadian Underwriter | December 15, 2010
A fierce winter windstorm blew through Nova Scotia and New Brunswick on Dec. 13-14, dropping more than 100 mm of rain over a 48-period in some places and leaving more than 80,000 without power at one point during the storm.Environment Canada reported various areas of Nova Scotia were hit by wind gusts of between 106 […]
SGI has committed to employing students participating in and graduating from the Saskatchewan Institute of Applied Science and Technology (SIAST)’s new Business Insurance Diploma program.The program begins in September 2011. SGI will establish six work terms after the second semester, and five 12-month internships upon graduation. It will also offer four $2,500 SIAST scholarships for […]
Ontario’s Uninsured Vehicles Project (OUVP) generated a fair amount of discussion between industry and regulator stakeholders about what consumers should do in the event of wrongful denials of license plate renewals.The OUVP is designed to reduce the number of uninsured vehicles driving on Ontario roads. Under the project, consumers are checked for their insurance status […]
Canada raised record funds in the global ‘Movember Challenge,’ with a little help from insurance industry participants. The Movember initiative started in Australia in 2003 to raise awareness of men’s health – prostate cancer in particular – by having participants grow a moustache throughout the month of November. The facial hair has become to the […]
2 min read
The Canadian Automobile Association (South Central Ontario) will be applying to the Financial Services Commission of Ontario (FSCO) to offer premium rebates for drivers that install winter tires.”Insurance premium rebates will incent drivers to install winter tires, which will help reduce the number of crashes and improve safety on our roads,” said Nick Parks, CAA […]
A massive winter storm stranded more than 360 vehicles on an 80-km stretch of highway between London and Sarnia, Ontario, and Lambton County declared a state of emergency and called in the military for help.The entire southwestern Ontario area has been hit hard recently, with London receiving more than a metre of snow in December […]
By Canadian Underwriter | December 14, 2010
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