The Insurance Corporation of B.C. is proposing a significant shake-up of its auto insurance rating system, introducing a “fair rate” system that would have higher-risk drivers paying higher premiums than lower-risk drivers. “We want to make Basic insurance premiums more fair by holding all drivers more accountable for their driving decisions and behaviour,” the province’s […]
By David Gambrill | August 10, 2018
2 min read
OTTAWA – A new Statistics Canada survey has found about 1.4 million Canadians reported they had been a passenger in a vehicle driven by someone who had consumed cannabis in the previous two hours. In addition, one in seven cannabis users with a driver’s licence said they had got behind the wheel at least once […]
By Jason Contant | August 9, 2018
1 min read
A Canadian software company faces risk and uncertainty because Britain is leaving the European Union. “We face risks associated with the potential uncertainty and disruptions that may follow Brexit,” Open Text Corporation said Aug. 2 in a securities filing. Open Text, which employs more than 12,000, makes software that lets companies and government departments manage […]
By Greg Meckbach | August 7, 2018
2 min read
LEITCHES CREEK, N.S. – Charges have been laid after a 17-year-old boy was struck and killed while walking home from a Cape Breton grad party, as a police chief denounced the “misinformation” circulating after the crash. Cape Breton Regional Police said the 21-year-old driver of the vehicle – who they say was “proven not impaired: […]
By Jason Contant | August 3, 2018
2 min read
A month after being sworn into office, Ontario’s new political rulers have been silent on the issue of auto insurance reform. “We haven’t heard anything formal yet from government,” confirmed Pete Karageorgos, the director of consumer and industry relations for Insurance Bureau of Canada. “We will wait and see.” Contacted by Canadian Underwriter about the […]
By Greg Meckbach | August 2, 2018
3 min read
Aviva Canada is diversifying its portfolio of business to avoid exposure to deteriorating conditions in Ontario’s auto insurance market. “When you look at Aviva’s business in Canada, there’s a heavy concentration in Ontario auto,” Aviva Canada president and CEO Colm Holmes told Canadian Underwriter Thursday. “So, what we’ve been looking at is, how do we […]
By David Gambrill | August 2, 2018
4 min read
ENGLEWOOD, Colo. – Rachael Haber only intended to stay a few minutes when she stopped by the basement apartment of a travelling friend to check on her pet cat. While she was there Tuesday, a small but intense storm hit the area south of Denver, unleashing a torrent of rain that rushed through streets and […]
By Jason Contant | July 31, 2018
3 min read
As insurers’ computer databases get exponentially larger, the controversy around the use of credit scores in rating property coverage is getting intense. Customers are asking for “transparency” from insurers on how they price and underwrite insurance, Jean-François Larochelle, director of Intact Insurance’s Data Lab, said during a recent webinar, Insurance Analytics to Supercharge Performance. Held July […]
By Greg Meckbach | July 29, 2018
2 min read
Besides the obvious liquor liability risk in the restaurant and bar sector, risk managers should also pay attention to cyber and sexual harassment risks, says a broker with Holmes Murphy who specializes in the area. Over the past few years, risk managers in the restaurant space have started to realize that even if you are […]
By Jason Contant | July 26, 2018
2 min read
HALIFAX – Nova Scotia is defending its unique cannabis retail scheme that will sell weed in existing liquor stores amid criticisms the arrangement poses a public health risk. A Halifax psychology professor issued a news release criticizing the model, which the Nova Scotia Liquor Corporation says is unique in the world. Marijuana is to be […]
By Jason Contant | July 26, 2018
2 min read