Auto

Alberta auto insurer penalized

Edmonton, Alberta’s Superintendent of Insurance has issued a CD$15,000 penalty to Coseco General Insurance Company for failing to charge approved premiums for compulsory auto insurance, a violation of the Insurance Act.Administrative error resulted in some drivers being charged higher auto insurance premiums than allowed by the province’s maximum premium grid, according to a government press […]

By Canadian Underwriter | October 20, 2006

1 min read

Auto

B.C. looking at biometrics for driver’s licenses

B.C.’s provincial government is developing a policy on using biometrics for drivers’ licences, and ICBC is conducting a study of the issue, according to a report in The Vancouver Province.”This isn’t too far down the road in terms of making decisions,” B.C. Solicitor General John Les said in an interview with The Province.The Province reported […]

By Canadian Underwriter | October 16, 2006

1 min read

Auto

Edmonton auto insurer penalized

Edmonton’s Superintendent of Insurance recently issued a CD$45,000 penalty to State Farm Mutual Automobile Insurance Company, according to a release from the government of Alberta. The penalty represents a violation of The “Insurance Act,” stemming from the auto insurers failure to charge clients with premiums approved for compulsory auto insurance in relation to a new […]

By Canadian Underwriter | October 13, 2006

1 min read

Auto

ICBC declares October “Zero Crash Month”

The Insurance Corporation of British Columbia (ICBC), along with the provincial government and local police, have designated October as “Zero Crash Month,” in order to raise awareness of the impact crashes have on people, families and communities, and as a challenge to make a difference. The ICBC reports that it is predicted that this October […]

By Canadian Underwriter | September 27, 2006

1 min read

Ontario’s graduated licensing program works, report finds

Ontario’s Graduated Driver License Law appears to result in lower death and injury rates for teen drivers, with the median age being 16-years old, according to a study by the AAA Foundation for Traffic Safety. Death and injury crashes for 16-year-old drivers were 20% lower in jurisdictions which place restrictions on nighttime driving and number […]

July 31, 2006

2 min read

Auto claims costs up, MPI says

Solid investment income helped Manitoba Public Insurance (MPI) offset a significant rise in claims costs for the first quarter of 2006, MPI has reported.For the three months ended May 31, 2006, MPI’s claims costs were up CD$17.1 million, or 11.5%, over the same period a year earlier. The corporation’s investment income grew almost as quickly, […]

1 min read

Moves (July 01, 2006)

The Insurance Brokers Association of Ontario (IBAO) has launched a new Web site, http://www.ibao.org, which provides information on insurance topics. Technically developed by AKA New Media Inc., the site is designed to be fresh, innovative and user-friendly. A new feature on IBAO’s homepage is the Industry News link found in the IBAO News and Events […]

June 30, 2006

2 min read

Insurers expanding through internal growth

Insurers looking to expand their operations are doing so through “staff-driven, organic growth,” according to Business Management Group, Inc. 2006-2007 Owner, Executive and Producer Compensation Survey. A decrease in the exchange of large books of business is the root cause of this shift, which has lead to a shift in compensation package offerings and new […]

3 min read

IBAO launches new Web site (June 12, 2006)

The Insurance Brokers Association of Ontario (IBAO) has launched a new Web site, http://www.ibao.org, providing an extensive range of information on insurance topics. Technically developed by AKA New Media Inc. (AKA Broker), the site is designed to be fresh, innovative and user-friendly.A new feature on IBAO’s homepage is the Industry News link found in the […]

2 min read