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Real-time data transfer between clients, brokers and insurers already underway

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Technology is having many impact on the insurance industry, both innovative positives and disruptors. One of the potential positives of the digital transformation will be more efficient inter-communications between insurers, brokers, and customers. Real-time data exchanges is on the horizon

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Home cultivation enforcement among biggest municipal headaches ahead of marijuana legalization

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The federal government will introduce recreational pot legalization in Canada no later than July 2018. While some areas of the regulatory frameworks are in place, others are not, including how to properly police impaired driving through cannabis use. Among the other problems created by marijuana

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Major B.C. Fraser River flood before 2100 could cost economy $30 billion

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British Columbia is on the verge of a major environmental and economic disaster if a major flood on the coast or Fraser River happens between now and the year 2100. A recently published flood strategy report suggest such an event could lead to between $20 billion and $30 billion in economic

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Insurers: recent Ontario storms can be considered a CAT event

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The severe storms that has hit Ontario over the last week were probably CAT events, according to insurance providers. Parts of the province were hit by harsh conditions over the weekend, including over gale force winds and six inches of ice pellets. Rainfall warnings have continued to be issued

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B.C. issues alert for evacuation to 148 homeowners

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British Columbia Interior has been hit by major floods this past week, resulting in roads being washed out and some residents under an evacuation alert. The Ministry of Transportation has issued a posting confirming Highway 33 from Mission Creek Bridge to Kelowna has been closed in both directions

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Ontario auto insurance rates increased last quarter as government promise crumbles

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Auto insurance customers in Ontario paid more on average for the coverage during the first quarter of 2018 as premium rates increased. The result shows that the Liberal government’s goal of reducing auto premiums by 15 per cent is once again failing. Statistics released by the Financial

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ICBC in trouble due to unfriendly environment says Fraser Institute

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While politicians and industry experts are still weighing in on why the Insurance Corporation of British Columbia (ICBC) is financially struggling. A new report from the Fraser Institute thinks it has an answer, suggesting the fiscal problems of British Columbia’s public insurer can be blamed on a

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Aviva Canada now includes earthquake protection for all home and tenant insurance policies in B.C.

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Aviva Canada has made a move that is likely to appeal to many customers in British Columbia. The company has now embedded earthquake coverage into all of its home and tenant insurance policies. Under normal circumstances, an insurer will offer earthquake coverage as an endorsement on top of home

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Category: News

Quebec homeowners still ignoring earthquake insurance

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Homeowners in Quebec are still not considering earthquake insurance as an add-on to existing home insurance policies. One industry executive says it will take insurance providers an “extended period of time” to convince even 25% of the market to adopt the coverage. Around 95% of homeowners in

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British Columbia wants distracted drivers to pay for their own repairs

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The government of British Columbia wants to take a tougher stance against distracted drivers and has tasked the provincial public insurance provider with helping. The Insurance Corporation of British Columbia (ICBC) has been instructed to find a way to make distracted drivers pay more for covering

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Category: News

Toronto trio plead guilty to healthcare auto insurance scam

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Last month, it emerged healthcare professionals in Ontario are logging an impossible number of hours to insurance companies for treating auto collision victims. With the danger of fraud ever present, a case in Toronto has shed light on this problem. Two healthcare providers and a legal aid have been

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Category: News

High 2016 speed-related deaths behind Saskatchewan’s new tougher stance on speeding drivers

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Saskatchewan Government Insurance (SGI) has officially published its data for speeding-related deaths during 2016 in the province. The public insurance provider says there were 22 fatalities related to speeding during the year. Also during 2016, 124,000 speeding tickets were issued by police to

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Aviva Canada welcomes report into Newfoundland and Labrador auto insurance system

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Aviva Canada is the latest insurance giant to praise the report published by Oliver Wyman Limited, which highlights the condition of the auto insurance market in Newfoundland and Labrador. The province is currently undergoing a significant review of the market and the report detailed some of the

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Category: News

Aviva Canada confirms first participants of InsurTech Growth Program

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Aviva Canada has previously discussed its ambitions for insurtech and has been among the most proactive providers in Canada in pursuing the innovation. Now, the second largest P&C company in Canada has teamed with innovation hub OneEleven to announce the first participants of its InsurTech Growth

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Category: News

FSCO guideline on how to treat customers is also for insurance brokers

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On Tuesday, the Financial Services Commission of Ontario published a guideline designed for businesses to give pointers on how to treat consumers. The FSCO has confirmed the guideline is applicable to financial services sectors, including property and casualty insurance brokers. In a release, the

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IBC donates to Orléans-Cumberland Community Resource Centre

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The Insurance Bureau of Canada (IBC) has announced it is donating $5,000 to the Orléans-Cumberland Community Resource Centre. The donation will be presented to the community centre during an event scheduled for April 5 at 10:30 a.m. Attendees at the event will include Kim Donaldson, VP, Ontario,

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Intact CEO: everything is possible after Ontario elections in the auto insurance market

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Ontario will go through elections this year. If the Liberal government loses power, several changes made in auto insurance could be under threat and the future of a commitment to reduce premiums could fall apart. Intact Insurance, the biggest P&C provider in the country, says auto insurers in the

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Allstate study points to Millennials being most likely to drive while distracted

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Studies have shown most Canadians think Millennials are the most likely to partake in distracted driving, and it seems the demographic agrees with them. A new poll from Leger on behalf of Allstate Insurance Company of Canada shows Millennials know they are most likely to operate a vehicle while

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Spelling mistake almost costs customer claim payout

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If customers want a lesson in how checking every detail of the auto insurance process is vital, they should look to Carolina Ayala. The Toronto-area woman was unable to cash a claims check due to a simple spelling error. The story starts five years ago when Ayala was involved in a collision in

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IBC praises latest Newfoundland and Labrador auto insurance report

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A report into the current auto insurance market in Newfoundland and Labrador has been praised by the Insurance Bureau of Canada (IBC). Created for the Board of Commissioners of Public Utilities for the province, the report highlights the troubling situation in Newfoundland and Labrador. The

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