Auto
Only a numskull politician could possibly suggest that cars are to blame for what their idiot drivers do. Yet, that seems to be the message Quebec’s (questionably) revered Minister of Transport, Guy Chevrette, has charged. At a recently held media conference, Chevrette accused auto manufacturers for creating a “highway hazard” by building increasingly powerful engines […]
July 31, 2001
4 min read
Risk
In a press release issued in early May, the American Council of Insurance Agents and Brokers announced the results of their first quarter survey. It showed rates rising significantly, with close to 90% of responding brokers suggesting that rates for the five commercial lines were already “somewhat hard” or “very hard”. In an environment like […]
9 min read
Industry
The outcome of a class action lawsuit filed in Ontario against the Co-operators General Insurance Co. in an attempt to reclaim amounts the insurer allegedly gained from salvage following a total loss write-off of a vehicle and deductible charged to the insured, could herald a new attack of "strike suits" against auto insurers
7 min read
Home
In the wake of Canada Day riots that rocked the city of Edmonton, insurers are stepping up to deal with claims from local businesses, says the Insurance Bureau of Canada (IBC). Estimates of damage are in the hundreds of thousands of dollars as a result of the uprising, which broke out early Canada Day morning […]
1 min read
The Registered Insurance Brokers of Ontario (RIBO) has called on the Ontario government’s Ministry of Finance for recognition of the unique differences that exist between property and casualty insurance products and their distribution modes compared with the life, deposit-taking and securities sectors operating in the province. In a letter addressed to John O’Toole, the parliamentary […]
The U.S. attorney general, John Ashcroft, has announced his intention to seek settlement of the federal government’s pending multi-billion dollar lawsuit against the tobacco industry, which was initially launched in 1999 with the support of then U.S. president Bill Clinton. Claims made against the tobacco companies include provisions under the U.S. Racketeering Influenced and Corrupt […]
2 min read
The Insurance Brokers Association of Canada (IBAC) has called on all broker-supporting insurers to support the industry’s attempt to develop a business-to-business, real-time Internet portal through the Centre for the Study of Insurance Operations (CSIO). The first development phase of the CSIO’s portal, which will allow brokers to secure online comparative price quoting on personal […]
Winners of the John E. Lowes Fund scholarships recently announced are Matthew Lafreniere and Ashley-Lynn Waldron of Algonquin College. The scholarships are awarded annually to Ontario students in full-time, post-secondary programs including the study of property and casualty insurance. Discount Car and Truck Rental recently invited its broker and insurer partners on board for a […]
By the end of this summer, Canada’s insurance information is expected to be available for individual insurers to conduct customized market analysis and benchmark their performance against the industry. The Insurance Bureau of Canada (IBC) will introduce the Insurance Data Enquiry and Access (IDEA) System, which will allow insurers to access its information warehouse – […]
3 min read
Most jurisdictions have a form of rate approval systems for private passenger automobile risks but in recent times they have been going from bad to worse. Ontario, with its new rate filing system, is no exception
5 min read
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