Risk
Toyota Canada Inc. is eyeing the car insurance market as part of an aggressive expansion plan, reports the Globe and Mail.The giant vehicle manufacturer already offers insurance in several other countries, including Japan, Britain, France, Germany, Australia and Thailand, the paper reported.If everything goes well, we want to [offer insurance] within a year, Toyota president […]
By Canadian Underwriter | September 26, 2007
1 min read
A new poll by the Traffic Injury Research Foundation (TIRF) has found more than 2 million Canadians display aggressive driving behaviours.”An aggressive driver may not intend to harm others, but their behaviour elevates everybody’s crash risk,” says Vanlaar. “Speeding, taking risks, and running red lights are all extremely dangerous.”The poll also noted that most Canadians […]
By Canadian Underwriter | September 25, 2007
2 min read
Auto
The highest number of complaints the Municipal Licensing & Standards office for the City of Toronto receives is for tow trucks that bill more than the capped rate, Scott Sullivan, East office supervisor, Mobile Business Enforcement, Municipal Licensing & Standards, Investigation Services, City of Toronto, told delegates at the Annual Toronto Fraud Forum. As it […]
Industry
The insurance industry has to set up a protocol for the exchanging of information between insurers thats consistent among all insurers, Norman Groot, lawyer, Investigation Counsel PC, told delegates at the Annual Toronto Fraud Forum. Certainly, I would encourage everyone to exchange information for the purposes of fighting fraud, Groot said. He noted that in […]
With the issue of the Bank Act officially retired as of early this year (for another five years, at least), the Insurance Brokers Association of Canada (IBAC) is now setting its sights on what brokers do when they choose to retire.Specifically, IBACs new president, Danny Craig, told delegates at the associations 2007 annual general meeting […]
By Canadian Underwriter | September 24, 2007
Claims
Ten new drivers in Saskatchewan have received Cdn$1,000 after completing the Graduated Drivers Licensing program without any traffic convictions, suspensions or at-fault collisions.SGI is pleased to reward safe driving habits among our provinces new drivers, Phyllis Glowatsky, SGIs Manager of Driver Programs, said in a release. With this added incentive, it is our hope that […]
Lloyds is warning that a growing network of cells spread throughout the world means the al-Qaeda brand is as strong as ever and capable of matching the devastation witnessed on 9/11.Referring to the International Institute for Strategic Studies (IIHS)s 2007 Strategic Survey, the Lloyds report noted that a number of regional jihadist groups, most in […]
According to the Canadian Crop Hail Associations hail report, Saskatchewans hail claims have surpassed the other Prairie provinces and are about 10% higher than the provinces 5-year average. Farmers from the communities of Reward, North Battleford, Meota, Cut Knife, Unity, Wilkie, Cudworth, Wakaw, Melville, Canora, Kuroki, Kamsack and Yorkton filed claims as a result of […]
Representatives of the Canadian reinsurance market assured delegates of the A.M. Best Canadian conference that their Canadian branches are here to stay, despite recent changes to the Insurance Companies Act.The changes to Part 13 of the Act re-defined in-Canada risk. Before the amendment it was illegal for foreign insurers who are unlicensed in Canada to […]
By Canadian Underwriter | September 21, 2007
During the current volatile economic environment the insurance industry needs to be more proactive with property reforms in particular water exposure to avoid political intervention like that seen with recent auto reforms, Kathy Bardswick, president and CEO of Co-Operators Group Ltd., told a crowd of delegates at the first A.M. Best Canadian Review & Preview […]
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