Category: Canadian Insurance

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Coast Capital Insurance Services Ltd. Joins the Western Financial Group Family

“We’re very proud to be able to bring Coast Capital Insurance Services into our family of companies. It is a tremendous organization that has the same commitment to community as we do,” said Scott Tannas, President and CEO of Western.

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Bank of Canada warns of risks, costs from monetary stimulus and its removal

And there is a danger central banks won’t be able to manage the exit properly, leading to losses in their balance books, loss of confidence and high inflation.

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Economical Mutual Insurance Company hosting 141st Annual General Meeting

As previously reported, Economical is waiting for regulations from the federal Department of Finance that are required in order to proceed with the company’s previously announced demutualization process.

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New CDIC Video Makes Deposit Insurance Easy

“Not everyone knows how deposit insurance coverage works,” said CDIC President and CEO Michele Bourque. “We want to show Canadians that by following a few simple rules, they can protect their deposits in the event their bank fails.”

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Ontario sets dog bite record as State Farm pays out over $100 million in claims

Dog bites can cause both physical and emotional damage to victims and considerable cost to communities.

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Canadian Red Cross receives $5,000 for those in need following spring deluge

State Farm has donated $5,000 to the Canadian Red Cross to help with its efforts in assisting Ontario residents affected by damaging spring flooding.

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Alberta promises better disaster response following second Slave Lake review

Consulting firm KPMG has made 19 recommendations to improve the province’s disaster response.

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Liberals use handouts to promote budget promise to cut auto insurance rates

There’s nothing unusual about Liberal caucus members paying for promotional material after a budget, said Finance Minister Charles Sousa, who had not seen the brochure.

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New usage-based insurance program from Desjardins Insurance puts Ontarians in the driver’s seat

Drivers with good habits can now save up to 25 per cent on their car insurance

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OSFI looking at whether low risk, uninsured mortgages also need tightening

The current amortization period limit for such conventional mortgages is 35 years. In July, Finance Minister Jim Flaherty dropped the period to 25 years on mortgages with less than 20 per cent downpayment.

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Industry committed to working with government on implementing auto insurance changes for benefit of New Brunswickers

“A sustainable and stable auto insurance system must strike a balance between providing adequate benefits for the few people who make claims and affordable premiums for everyone who drives.”

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Atlantic Roman Catholic bishops criticize changes to EI in letter to parishes

The letter says the bishops want to “express our solidarity,” with people who are suffering from losing their benefits during difficult economic times.

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Wynne says car insurance rate cuts won’t happen overnight; can’t offer time line

“If we’re not seeing any concrete timelines, any concrete deadline in terms of when we’ll see this 15 per cent reduction, it’s meaningless,” said NDP critic Jagmeet Singh.

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Alberta leads Canada in extreme weather loss claims

Sixty-two per cent of all insurance losses from natural catastrophes in the country last year were in Alberta.

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IBC’s Top 10 Guide to help you get better prepared for emergencies

“Being on the front lines when disaster strikes, the insurance industry understands the costly and devastating impact of severe weather on Canadians.” Ralph Palumbo, Vice President Ontario, IBC.”

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Insurance Industry Calls on NDP to Support Ontario Drivers

Making unnecessary amendments will only delay drivers from realizing savings,” Don Forgeron.

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Highlights of the 2013 2014 Ontario budget

the government will legislate an average 15 per cent cut in auto insurance premiums, but won’t say over what period of time.

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Fraud Reforms Welcome, Rate Reductions Will Take Time: IBAO

On May 2, 2013 Ontario’s Minister of Finance, the Hon. Charles Sousa, introduced the 2013 Ontario Budget at Queen’s Park promising to lower auto insurance premiums by 15% on average over time for Ontario drivers. The Insurance Brokers Association of Ontario (IBAO) is encouraged that the government intends to implement key measures of the Auto [...]

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Manulife sees insurance sales drop 23 per cent in Q1 on lower net profit

“Insurance sales dropped to $619 million in the quarter from $799 million, hit by tax and product changes in Japan and price increases to protect margins and lower sales of group benefits to large clients in Canada” chief executive Donald Guloien

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