Industry
Many Canadian drivers do not believe training programs for passenger vehicles provide adequate education about sharing the road with large trucks, according to the Traffic Injury Research Foundation (TIRF). The number of injury crashes involving large trucks increased substantially between 2001 and 2005, with only a slight decrease in 2006, the TIRF says. In the […]
By Canadian Underwriter | June 28, 2010
1 min read
Developing industry-wide delivery standards for third-party medical examinations and standards for training and experience of assessors in auto-related injury claims are among the Financial Services Commission of Ontario (FSCO)’s top priorities for 2010. In its 2010 Statement of Priorities, FSCO says it will be taking the following initiatives, among others, to support automobile insurance reform:• […]
2 min read
SGI is granting a one-time eligibility exemption for farm licence plates due to recent flooding and wet soil conditions facing farmers throughout the province.The exemption is effective immediately and expires on June 1, 2011.Usually an individual or farm corporation wishing to license their vehicles with farm plates must meet a requirement to seed a minimum […]
By Canadian Underwriter | June 25, 2010
The Cities of Ottawa and Toronto are reporting little damage in the aftermath of a magnitude 5.0 earthquake that shook buildings in both areas.The City of Ottawa, closer to the epicenter of the quake, issued a statement listing only two city-owned buildings that were closed for repairs, one of which is to be re-opened on […]
The Insurance Brokers Association of B.C. (IBABC), with the support of RSA and CNS, has launched the New Broker Essential Skills certificate program.IBABC unveiled the new program at its annual conference and trade show in Victoria on June 18.The program provides entry-level licensees with the technical knowledge, customer-service skills and learning habits that are the […]
Environment Canada has confirmed that two tornadoes ripped through the Midland area on June 24.The first was an F2 tornado on the Fujita scale, with peak winds of between 180 and 240 km-h. The twister travelled for 25 kilometres, with a maximum width of damage around 300 metres. Numerous mobile homes were severely damaged or […]
The Financial Services Commission of Ontario (FSCO) has amended its Unfair or Deceptive Acts or Practices (UDAP) regulation to ensure fair pricing among insurance company affiliates and their distribution channels. The UADP now requires “affiliated insurers and their agents/brokers to provide a consumer with the lowest rate that is available having regard to all of […]
Lloyd’s of London has launched an insurance product that temporarily replaces a car owner’s auto policy, should they decide to rent out their private vehicle. WhipCar provides an online booking service that allows London car owners to rent out their vehicles to friends, family and members of their local communities. WhipCar checks and validates all […]
Claims
A tornado tore through Midland, Ontario on June 23, the third tornado of the season in Ontario. A severe thunderstorm and funnel cloud ripped through the southern part of Midland on Wednesday evening, damaging property and forcing the community to declare a state of emergency.Environment Canada confirmed a tornado touched down, but the exact timing, […]
By Canadian Underwriter | June 24, 2010
Private U.S. property and casualty insurers’ saw net income rebound to $8.9 billion in 2010 Q1, a marked improvement from the net loss of $1.3 billion in the same period of 2009, according to the Insurance Services Office.This return to profitability was despite continuing declines in both written and earned premiums. Net written premiums dropped […]
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