Drone Delivery Canada Unveils Its Largest & Farthest Range Cargo Delivery Drone

Drone Delivery Canada ‘DDC or the Company’ (TSX.V:FLT,OTC: TAKOF), today unveiled its largest cargo and farthest range delivery drone, ‘The Condor’. ‘The Condor’ was displayed at public and investor launch events at the TMX Broadcast Centre Gallery in Toronto.

The Condor has been in development for the past year and is the next generation in DDC’s drone delivery cargo aircraft. With a payload capacity of 180 kilograms or 400 pounds, and a potential travel distance of up to 200 kilometres, the Condor pushes the limits in both cargo capacity and distances. The Condor is powered by a next generation gas propulsion engine.

The Condor measures 22 feet long, 5.1 feet wide and seven feet tall. It has a wing span of approximately 20 feet and is capable of vertical take off and landing. It is equipped with DDC’s proprietary FLYTE management system which is the same platform used in all of DDC’s cargo delivery drones. This is also the same management system that was used in the fall of 2018, during the company’s operations in  Moosonee and Moose Factory, Ontario in support of Transport Canada’s Beyond Visual Line-of-Sight (BVLOS) pilot project.

DDC will be working closely with Transport Canada to secure the necessary approvals to begin flight testing the Condor in Q3 of 2019.

To watch the launch VIDEO of the Condor please visit; https://dronedeliverycanada.com/video-repository/

About Drone Delivery Canada
Drone Delivery Canada is a drone technology company focused on the design, development and implementation of its proprietary logistics software platform, using drones. The Company’s platform will be used as Software as a Service (SaaS) for government and corporate organizations.

Drone Delivery Canada Corp. is a publicly listed company trading on the TSX.V Exchange under the symbol FLT, on the U.S. OTC Q B market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ.

For more information, please visit www.dronedeliverycanada.com

SOURCE Drone Delivery Canada

B.C. limits court experts in auto insurance to spur early settlements

By Dirk Meissner

THE CANADIAN PRESS

VICTORIA _ The B.C. government is going to try and contain financial losses at its Crown-owned auto insurance corporation by reducing the use of experts in accident lawsuits.

The government has amended the rules for civil cases in the B.C. Supreme Court to limit the number of experts and the reports they write in lawsuits involving the Insurance Corporation of British Columbia, Attorney General David Eby said Monday.

Accident injury claims have increased 43 per cent in the past five years and the use of experts has contributed to a 20 per cent rise in the corporation’s injury settlements in the past year, Eby told a news conference.

The changes are designed to trim the excesses in the system, he added.

“It doesn’t advance any interest to have six-plus adversarial experts on a claim. It doesn’t advance any interest to have a $50,000 expense to resolve a $100,000 claim.”

Eby, who is also the minister in charge of the Crown corporation, said the agency is on track for a year-end loss of $1.18 billion, compounding the blow of last year’s $1.3 billion deficit. He described the financial situation left by the former Liberal government at ICBC as a “dumpster fire” last year.

Last week he said the financial situation at the public auto insurer is critical and getting worse, with losses of $860 million in the first nine months of this fiscal year.

Eby said the government estimates it can save $400 million with the limitation measures, but that depends on lawyers and judges supporting fewer reports and experts.

The Trial Lawyers Association of B.C. said it supports measures to make the civil justice system fairer, faster and cheaper, but it criticized the government for acting unilaterally.

“Passing such consequential changes to our system of civil justice with no legislative debate is undemocratic,” the association said in a statement.  “Time and again this government seems to favour ICBC’s financial interests over the legal rights of British Columbians, and this rush to pass restrictions on how victims of negligence must prove their cases at law is the most recent illustration of making car accident victims pay for reckless driving.”

Raj Sahota, a Victoria personal injury lawyer, said the changes are workable especially since there are options to apply for further expert opinions if required.

“Generally speaking, I think these changes now are good for the system and good for this particular (practice) within personal injury litigation,” he said.

Eby said he expects there will be legal challenges, but added the changes bring B.C. into line with other provinces that limit experts in injury claim cases from motor vehicle accidents. Australia and the United Kingdom have much tougher restrictions on the use of experts and expert reports, he said.

“We believe the balance we have struck between unlimited adversarial experts under the current system and the no adversarial expert rules of other jurisdictions will reduce the costs and delays associated with using duelling experts while preserving a party’s ability to get evidence in front of a court,” Eby said.

The changes mean the parties in injury claims cases are limited to the use of one expert and one report for claims of less than $100,000 and up to three experts and three reports for all other claims.

Eby said the courts will also be able to permit more court-appointed or joint experts at its discretion.

The changes start immediately on motor vehicle accident claims, he said. The government is also considering making the injury expert changes apply to all personal injury claims by Feb. 1, 2020.

“The challenge with the issue, as all issues on this file, is finding the right balance between protecting the interests of British Columbians injured in motor vehicle accidents and finding ways to make the current system work better,” Eby said.

The B.C. Utilities Commission approved ICBC’s request in January to allow for an interim basic auto insurance rate increase of 6.3 per cent.

A number of other cost-saving reforms are also being implemented starting April 1, including higher fines for repeat offenders and a payout limit of $5,500 for minor soft-tissue injuries.

Travelers Institute to Tackle Distracted Driving, Cybersecurity, Severe Weather in 2019

HARTFORD, Conn.–(BUSINESS WIRE)–Feb 13, 2019–The  Travelers Institute, the public policy division of The Travelers Companies, Inc. (NYSE:  TRV ), today announced its series of 2019 educational forums focused on combating distracted driving, managing cyber risks, insuring autonomous vehicles and preparing for severe weather events. Programs are free and open to the public.

“We saw great engagement throughout our symposia series in 2018 and look forward to continuing to raise awareness of important social topics across the United States and Canada,” said Joan Woodward, President of the Travelers Institute and Executive Vice President of Public Policy at Travelers. “By bringing together community members, entrepreneurs, business leaders and students, we hope these events will help to identify solutions that will generate real change for widespread societal issues and help people and businesses stay safe.”

The first symposium of the year will be “Disrupting Distraction,” part of the Travelers Institute ® Every Second Matters℠ series. It will be held today at Butler University in Indianapolis, Indiana, beginning at 6 p.m. ET. This series brings attention to alarming distracted-driving trends contributing to traffic fatalities and highlights innovative approaches to help prevent distractions and encourage safer behaviors.

“Constant connection is so highly valued in our society, but the urge to stay in touch can have devastating consequences,” said Lane. “The Every Second Matters initiative and today’s event will take us a step closer to reducing avoidable fatalities and injuries, and we’re proud to be a part of the effort.”

Travelers has also developed a new video series — “Unfinished Stories” — as part of its efforts to discourage distracted driving. The videos honor victims of distracted driving by imagining what might have been if the crash never occurred. The series is being shared across the company’s social media channels and during Travelers Institute and other events. To see the latest video and other distracted driving content, click here.

Additional educational forums planned for 2019 include Cyber: Prepare, Prevent, Mitigate, Restore ℠, a series that provides guidance for small and midsize organizations to help them prepare for and respond to data breaches and other cyber incidents, and the annual “Kicking Off Hurricane Preparedness Season” symposium to be held at the start of the Atlantic hurricane season, as well as other events focused on natural disaster preparedness, autonomous vehicles and small business solutions.

Visit the  Travelers Institute website to see the schedule of upcoming events and learn more about these initiatives.

About the Travelers Institute

The Travelers Institute, the public policy division of The Travelers Companies, Inc., engages in discussion and analysis of public policy topics of importance to the insurance marketplace and to the financial services industry more broadly. The Travelers Institute draws upon the industry expertise of Travelers’ senior management, as well as the technical expertise of many of Travelers’ underwriters, risk managers and other experts to provide information, analysis and solutions to public policymakers and regulators. Travelers is a leading provider of property casualty insurance for autohome and business. For more information, visit www.travelers.com.

Insurance claim costs are rising because severe weather is making flooding worse

Craig Stewart

Opinion: IBC fully stands by our insured loss numbers and their attribution to escalating severe weather events driven by climate change

Since 2009, insurers have paid out an average of over $1 billion per year in claims, in contrast to the $400 million annually averaged through the 1990s. In 2018, insured losses from severe weather events across Canada totalled $1.9 billion, the fourth-highest amount of losses on record. Insured losses, on average, are caused by flooding more than any other single peril. Flooding can be caused by extreme rainfall, by rivers and lakes overflowing their banks due to sudden snowmelt and due to storm surges caused by coastal storms.

Terence Corcoran’s recent article discusses a complaint made by Rob Muir, a licensed professional engineer, which Muir lodged successfully with the Ombudsman for Radio Canada, Guy Gendron. Muir disputed comments by Blair Feltmate, Head of the Intact Centre on Climate Adaptation, who cited Insurance Bureau of Canada’s (IBC’s) contention that increases in the frequency and intensity of severe weather are the source of these rising insurance claims costs. Gendron, in reaching his findings relied on a single published source that studied historical incidences of severe rainfall between 1953 and 2012.

Gendron’s conclusions were erroneous for several reasons. First, the time series used by Gendron ends in 2012 while IBC’s numbers and Feltmate’s public comments primarily reference increases that started in 2009 and have risen through 2018.

Secondly, Gendron only references flooding that has arisen from extreme rainfall whereas insurance losses accrue from a range of different types of flooding events.

Finally, IBC’s numbers actually understate the growing risk, as the Canadian insurance industry did not start insuring the single greatest peril for residences — overland flooding — until late 2015. Those residential losses had been entirely borne by Canadian governments and homeowners until that date. Even without residential overland flood losses, insurers experienced escalating water claims from commercial policies, automobile policies and sewer back-up coverage.

Finally, our stated numbers only capture catastrophic events that total over $25 million and not the host of smaller events that occur regularly across Canada. Based on these errors IBC is requesting that the CBC review Gendron’s decision. IBC fully stands by our insured loss numbers and their attribution to escalating severe weather events driven by climate change.

The IBC-sponsored report, Combatting Canada’s Rising Floods Costs: Natural infrastructure is an underutilized option, was recently featured at a special event hosted by the Ontario Society of Professional Engineers (OSPE). It provides a framework for making decisions about the return on investment of green infrastructure deployed as a climate-adaptation measure. IBC, along with a number of OSPE members, spoke to ways in which both green and grey (or engineered) infrastructure are vital elements to a whole-of-society approach to climate change.

Fundamentally, we as a nation need to prepare for the impacts of severe weather. By focusing on adapting to climate change we can work together constructively to keep Canadians out of harm’s way.

Craig Stewart is vice-president of federal affairs at the Insurance Bureau of Canada.

SSQ Insurance CEO Jean-Francois Chalifoux named 2018 Financial Personality of the Year

SSQ Insurance proudly welcomed the news of their CEO Jean-François Chalifoux’s designation as the 2018 Financial Personality of the Year. Chalifoux was honoured by an independent jury of industry peers as part of the annual Top 25 financial industry ranking by Finance et Investissement.

“I’m very pleased to be receiving this award, which I wish to share with my SSQ Insurance colleagues. I’m happy to be able to count on the 2,000 employees dedicated to our organization. Their commitment and involvement in the company’s projects has allowed SSQ Insurance to continue to grow and position itself well in the industry,” said Chalifoux. “I thank them for their hard work and dedication.”

Jean-François Chalifoux is a leader with a vision who has focused the company’s efforts on performance and innovation to maximise the company’s results. The members of the jury acknowledged his strategic audacity and sense of innovation in addition to the company’s growth.

Chalifoux joined SSQ Insurance as CEO in September 2015. Since then he has orchestrated the company’s transformation. Following the implementation of a new organizational model, the merger of the company’s legal entities and the introduction of an ambitious strategic plan, the company launched its new brand identity in 2018 as the crowning achievement of the changes for the company’s members, customers and partners.

About Top 25 ranking of Quebec’s financial sector
Each February, the French-language publication Finance et Investissement hands out its Top 25 ranking of Quebec’sfinancial industry personalities, including the Financial Personality of the Year. This honour is an acknowledgment of the influence, exceptional achievements and remarkable growth of the company under their management.

The Top 25 of the financial industry as determined by Finance et Investissement pays tribute to 25 standout leaders who live and work in the province of Quebec and whose accomplishments stood out in the last year. The award winners are chosen by a jury made up of outstanding members of the financial industry.

About SSQ Insurance
Founded in 1944, SSQ Insurance is a mutualist company that puts community at the heart of insurance. With $12 billion in assets under management, SSQ Insurance is one of the largest companies in the industry. Working for a community of over three million customers, SSQ Insurance employs 2,000 people. Leader in group insurance, the company also sets itself apart through its expertise in individual life and health insurance, general insurance and the investment sector. For more information, please visit ssq.ca.

SOURCE SSQ Insurance

ssq.ca

Morneau taking close look at return to 30-year insured mortgages

By Bill Curry | Ottawa

The Globe and Mail

The federal government appears to be considering a budget announcement that would allow first-time homebuyers to obtain 30-year insured mortgages, up from the 25-year limit now, according to the Canadian Homebuilders’ Association.

Such a move would represent a change in direction after more than a decade of measures by federal Conservative and Liberal governments since the 2008 recession aimed at cooling housing markets and encouraging Canadians to take on smaller mortgages.

While the Bank of Canada continues to express concern about high household debt, politicians are also getting an earful from younger Canadians – a potentially key voting demographic – who can’t afford to enter the housing market.

Finance Minister Bill Morneau’s coming budget will be the government’s last before the scheduled October election. The minister recently said he is looking at home affordability issues for millennials, but he has not publicly speculated on potential policy options.

Over the past two weeks, top officials from the Prime Minister’s Office and Mr. Morneau’s office met with Kevin Lee, the chief executive of the Canadian Home Builders’ Association, to discuss potential budget measures.

Association spokesman David Foster said there is clear interest from government in the request put forward by housing industry groups to bring back 30-year insured mortgages.

“They keep wanting to talk with us about it, and it wouldn’t cost them a dime, so I’ve got to think those are somewhat positive signals,” Mr. Foster said on Wednesday.

The association discussed the matter earlier this week with Mr. Morneau’s chief of staff, Ben Chin. They also met last week with Sarah Hussaini, a policy adviser in the Prime Minister’s Office.

Pierre-Olivier Herbert, a spokesperson for Mr. Morneau, declined to comment, saying the office does not speculate on potential budget measures.

The association has had several meetings with officials and MPs over the past year in the run-up to the 2019 pre-election budget and recently narrowed down its wish list to just two items: a return to 30-year insured mortgages for first-time homebuyers and an easing of stress test measures that restrict access to non-insured mortgages.

Mr. Foster said officials are expressing interest in both options, but especially the 30-year mortgage proposal because it can be enacted unilaterally by the Finance Department. Changes to the stress test would require the co-operation of the Office of the Superintendent of Financial Institutions, an independent regulator that just this week defended the existing rules.

MP Francesco Sorbara, who chairs a Liberal caucus on housing affordability issues that formed last year and is a member of the House of Commons finance committee, did not dismiss the 30-year mortgage proposal as a way of helping first-time homebuyers.

“It is one idea of many that is worthy of consideration, with the caveat that we maintain a secure and healthy housing market and that individuals are not overextending themselves,” he said.

Paul Taylor, president and CEO of Mortgage Professionals Canada, is also advocating for the 30-year mortgage option and said he was “encouraged” by Mr. Morneau’s recent comments about addressing affordability for millennials. However, Mr. Taylor said he has not received any indication from federal officials that a decision has been made.

The date of the budget has not yet been announced. The House of Commons only sits for one week in March, which makes the week of the 18th a likely window for the minister to deliver the budget. However, there is also speculation in Ottawa that the budget could be released in the final week of February.

Homebuyers with a down payment of at least 5 per cent of the purchase price but less than 20 per cent must be backed by mortgage insurance. This is offered by the Canada Mortgage and Housing Corp. – a Crown corporation – as well as two private insurers.

In 2008, after briefly allowing insured mortgages with a 40-year amortization period, then-Conservative finance minister Jim Flaherty reduced the maximum period to 35 years. The Conservative government lowered the maximum to 30 years in 2011 and acted again in 2012 to bring it to 25 years, where it has stood since. The moves were promoted as a way to prevent high-risk borrowing.

Shortly after the Liberals formed government in 2015, Mr. Morneau announced further mortgage tightening rules that December by doubling the size of the required down payment for insured mortgages for the portion of a home’s value from $500,000 to $1-million.

Mr. Foster, of the home builders’ association, said restricting insured 30-year mortgages to first-time homebuyers should prevent consumers from getting in over their head.

Millennials have most of their working years ahead of them and would likely pay off the mortgage sooner than 30 years, he said.

“We don’t think it involves any additional risk,” he said. “These are prime borrowers.

Source: The Globe and Mail

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