75% of drivers distracted at the wheel – IBC

MONTREAL, May 29, 2019 /CNW/ – IBC is releasing the results of a survey on distracted driving in order to encourage drivers to adopt good driving habits.

The numbers say it all: 75% of drivers said they were distracted at the wheel in the past six months*. And yet, 90% of drivers were aware that accidents caused by distracted driving can drive up auto insurance premiums.

What does distracted driving mean? 
Distracted driving takes many forms: phoning, text messaging, eating, drinking, putting on make-up, even listening to music. Any activity that takes the driver’s attention away from the road is considered a distraction.

Drivers are distracted and these are not isolated behaviours. In fact, the drivers surveyed said they had on several occasions in the past six months:

  • Eaten or drunk: 55%
  • Phoned: 39%
  • Texted: 11%

The age 35-44 sub-group was over-represented among drivers who said they were distracted, with 87% having said they had been distracted in the past six months, compared to 75% for all respondents.

“We were very surprised to learn that 90% of drivers are well aware that how you drive can result in higher auto insurance premiums. And yet, we were surprised to note this did not discourage risky behaviour and distracted driving”, said Anne Morin, Supervisor, Public Affairs, at IBC.

Limit accidents through risk awareness
The campaign objective is to make drivers aware of the distractions around them and the need to minimize the risks. Note that responsible behaviour can only be positive for the driver’s driving record.

“We decided to tackle the subject taking a moving approach and a touch of humour. We hope the campaign will have an impact on drivers as well as passengers, who have their role to play, since distracted driving affects everyone”, noted Anne Morin.

* Based on a SOM inc. survey carried out for Insurance Bureau of Canada (IBC) in 2019. 

About Insurance Bureau of Canada
Insurance Bureau of Canada, which groups the majority of Canada’s P&C insurers, offers various services to consumers in order to inform and assist them when purchasing car or home insurance, or making a claim. For all other information, please visit www.infoassurance.ca.

SOURCE Insurance Bureau of Canada

For further information: Pauline Triplet, Communications Advisor, Tel.: 514 288-1537, ext. 2277

Related Links

http://www.ibc.ca/

CAA Club Group’s acquisition of Echelon Insurance has been completed

MISSISSAUGA, ON and RICHMOND HILL, ON, May 31, 2019 /CNW/ – Echelon Financial Holdings Inc. (“EFH” or the “Company“) (TSX: EFH) and CAA Club Group (“CAA“) are pleased to announce today that they have completed the previously announced sale of Echelon Insurance, the Company’s main operating subsidiary that is incorporated under the Insurance Companies Act, and the unregulated warranty business held directly by EFH to CAA (the “SaleTransaction“).

The net proceeds to EFH (after adjustments and expenses) was approximately C$166 million, which includes C$12 million that will be held in escrow for the next 30 days while EFH and CAA review and confirm the calculation of regulatory MCT at closing (which EFH has committed will be at least 220%). In the event that the MCT Ratio is less than 220%, monies held in the escrow account will be used to bring the MCT ratio to 220%.

Additional details are available in the Information Circular published by EFH on December 21, 2018.

Advisors

National Bank Financial Inc. acted as the exclusive financial advisor to Echelon Financial Holdings in connection with the strategic review process conducted by EFH’s Special Committee and the Sale Transaction. National Bank Financial Inc. and Blair Franklin Capital Partners provided opinions to EFH’s board of directors and EFH’s Special Committee, respectively, that the consideration pursuant to the Sale Transaction is fair, from a financial point of view, to EFH. Graham Gow and McCarthy Tétrault LLP acted as legal advisor to EFH. Cassels Brock & Blackwell LLP acted as insurance regulatory counsel to EFH. Stikeman Elliott LLP acted as legal advisor to CAA Club Group.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information. Such forward-looking information involves numerous assumptions, risks, uncertainties and other factors that could cause actual events to differ materially from those expressed or implied by such forward-looking information. All information, other than statements of historical fact, is forward-looking information. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information.

About Echelon Financial Holdings Inc.

Founded in 1998, Echelon Financial Holdings Inc. operates in the property and casualty insurance industry in Canada, providing personal and commercial lines insurance exclusively through the broker channel. The Company distributes insurance products through Echelon Insurance and The Insurance Company of Prince Edward Island. It trades on the Toronto Stock Exchange under the symbol EFH. For more information, please visit echeloninsurance.ca.

About CAA Club Group

For over a hundred years, CAA has been helping Canadians stay mobile, safe and protected. The CAA Club Group of Companies is comprised of two automobile clubs, CAA South Central Ontario and CAA Manitoba, providing roadside assistance, travel, insurance service and Member savings for over 2.2 million members. It also includes the CAA Insurance Company, a national property and casualty insurance company, and the Orion Travel Insurance company.

SOURCE Echelon Financial Holdings Inc.

License Renewal 2019 MANITOBA

What happens if you fail to renew your license by May 31?

You will be prohibited from acting as an agent.

Your agency or sponsoring insurance company will be notified immediately of the expiry of your license.

If you wish to apply under the reinstatement process, you will be required to complete ad submit a paper application form, along with the annual licensing fee and the reinstatement fee of $70.00. You will not be able to act as an agent until the Insurance Council of Manitoba approves the application and confirms the reinstatement by email to you. Delays could occur where additional requirements must be submitted for reinstatement.

Accredited CE Courses

Renewal instructions are available on the ICM website here.  Users Guides and Frequently Asked Questions (FAQS) are also available on the ICM website. Phone calls or emails from licensees with questions that are answered within the User Guides and FAQs will no be returned by Council.

Council recommends that you renew your license immediately to provide time to deal with any potential issues before the deadline. Online license renewal is the ONLY method of renewing your license. There are approximately 15,000 licenses being renewed in the month of May, you may find the ICM system slow when trying to renew.

MESSAGE FROM THE INSURANCE COUNCIL OF MANITOBA

Don’t leave the entry of your completed Manitoba CE credits until the last minute. Enter credits upon completion and allow the on-line CE system to
a) track how many CE credits you have completed,
b) remind/inform you of how many more credits are required to renew your license and
c) simplify your on-line renewal.

Log in with your User ID and Password and click on “Continuing Education” to view your CE Status and log the CE courses that you have successfully completed. Simplified instructions to enter your CE credits are outlined under “Report Courses”.

Continuing education credits must have been obtained from an accredited course provider, or have received individual course approval by the ICM. If a licensee intends to apply a course or seminar that is not offered by an Accredited Course Provider, completion and submission of the Individual CE Approval Application is required. The application form must be submitted to the ICM at least 30 days in advance of the course to ensure sufficient time to make an informed determination as to whether the CE course qualifies for Manitoba CE credits. More information on what type of CE would fall into this category can be found on the ICM website under “Continuing Education Info”.

The entry of CE for the same course more than once may be permitted on an exception basis only. If an agent wishes to claim credit for a course more than once, the agent must contact Council for prior approval and provide written reasons. This review is subject to the individual course review fee of $50.

For your reference, the CE requirements including the applicable definition for each class of license can be located on the ICM website, and are briefly outlined below:

Annual Continuing Education Credit (CEC) Hour Requirements

Life and/or Accident & Sickness

General

Auto-Only Brokers

Adjusters

Non-residents residing in Canadian jurisdictions that have continuing education requirements will be deemed to have met the requirement in Manitoba. Agents/Brokers residing in a jurisdiction where continuing education is not mandatory are required to comply with Manitoba’s continuing education requirements.

Residents of the United States of America are required to comply with Manitoba continuing education requirements.

NOTE: Continuing Education Credits must be obtained from an Accredited Course Provider or a course that has been individually approved by the Insurance Council of Manitoba.

Non-residents residing in Canadian jurisdictions that have continuing education requirements will be deemed to have met the requirement in Manitoba. Agents/Brokers residing in a jurisdiction where continuing education is not mandatory are required to comply with Manitoba’s continuing education requirements.

Residents of the United States of America are required to comply with Manitoba continuing education requirements.

NOTE: Continuing Education Credits must be obtained from an Accredited Course Provider or a course that has been individually approved by the Insurance Council of Manitoba.

Edited for ILSTV

V² Streamlines Underwriting Process for Small to Midsize Accounts

Read more

Highrise condo buyer denied insurance due to flood emergency

Aviva Canada turned down Inna Nei, citing state of emergency declared in April

Laurie Fagan · CBC News 

When Pat St. George and Inna Nei separated recently, they decided to sell the family home and move into their own condos in different areas of Ottawa.

St. George was able to transfer their home protection policy to his new residence, but when Nei tried to take out a policy for her new place on Richmond Road, the company they’d been dealing with for about six years, Aviva Canada, said no.

I can understand why they wouldn’t want to sign policies on flood-affected properties, but to paint the whole city or whole region as non-insurable is ludicrous.- Pat St. George, Aviva Canada customer
According to St. George, the company cited Ottawa’s state of emergency, declared on April 25 as floodwaters threatened parts of the city.

St. George said that makes no sense, especially since Nei’s condo is in a highrise and didn’t flood.

“I can understand why they wouldn’t want to sign policies on flood-affected properties, but to paint the whole city or whole region as non-insurable is ludicrous,” St. George said.

Common practice

In a written statement to CBC, the company explained: “Like most insurers, Aviva Canada does not sell new home or automobile policies located in an area that is under a flood alert or flood evacuation order.”

Aviva said once the state of emergency ends, it will resume offering policies to homebuyers in Ottawa.

Aviva also cancelled St. George’s added water protection for his condo, which covers sewer backup and overland flooding, until the emergency is lifted.

“I find it peculiar because we can’t be the only ones in Ottawa who are buying property, and the state of emergency has been in effect since April,” St. George said. “I can only imagine how many people are being affected by this.”

According to the Ottawa Real Estate Board, 2,032 residential properties were sold in Ottawa in April. Each one of those buyers would need home insurance to acquire a mortgage.

‘Conflicting interests’

Pete Karageorgos, director of consumer and industry relations with the Insurance Bureau of Canada, said insurance companies are forced to make tough decisions during emergencies such as the this spring’s flooding or the destructive wildfire in Fort McMurray, Alta, in May 2016.

“Insurance companies are not in the position to expand during states of emergencies and take on more risk,”  Karageorgos said.

“Regardless if you are right by the water’s edge or you are well inland or in a highrise, the insurance companies, not all, but many, are saying, ‘We’re holding off taking on more risk until the situation is normalized.'”

Pat St. George was shocked when insurance companies told him Ottawa’s state of emergency was the reason why they weren’t willing to insure his wife’s new condo. 7:37
Insurance companies must consider their current policy holders, Karageorgos said.

“It does seem unfair [but] you’ve got conflicting interests, and that’s where the challenge is taking on new policies.”

Karageorgos said there are some insurance companies that will offer policies during states of emergency.

Nei said she called six companies seeking a policy for her condo. Four said no, and only two said yes.

“You are kind of at the whim of getting any [company] you can find to give you a policy,” St. George said. “Who’s to say [Nei is] getting a fair rate?”

Don’t delay, there are only days left to the May 31 CE credit deadline

Don’t delay, there are only days left to the May 31 CE credit deadline

Don’t leave the entry of your completed Manitoba Continuing Education credits until the last minute.

Enter credits upon completion and allow the Insurance Council of Manitoba’s online CE system to to
a)track how many CE credits you have completed,
b) remind/inform you of how many more credits are required to renew your license and
c) simplify your online renewal.

Register as a new applicant of Login with your existing ICM account with your User Id and Password and click on “Continuing Education” to view your CE Status and log the CE courses that you have successfully completed. Simplified instructions to enter your CE credits are outlined under “Report Courses”.

Continuing education credits must have been obtained from an accredited course provider, such as ILScorp or have received individual course approval by the ICM.

Manitoba General/Adjuster Accredited Courses

If you intend to apply a course or seminar that is not offered by an Accredited Course Provider, completion and submission of the Individual CE Approval Application are required. The application form must be submitted to the ICM at least 30 days in advance of the course to ensure sufficient time to make an informed determination as to whether the CE course qualifies for Manitoba CE credits. More information on what type of CE would fall into this category can be found on the ICM website under “Continuing Education Info”

Manitoba Life/A&S Accredited Courses

Entry of CE for the same course more than once may be permitted on an exception basis only. If an agent wishes to claim credit for a course more than once, the agent must contact the Insurance Council of Manitoba for prior approval and provide written reasons. This review is subject to the individual course review fee of $50.

For your reference, the Manitoba Continuing Education Credit requirements including the applicable definition for each class of license can be located on the ICM website, and are briefly outlined below:

Manitoba Continuing Education Credit Hour Requirements

Life and/or Accident & Sickness

General

Auto-Only Brokers

Adjusters

CE Information specific to Non-Residents of Manitoba

Non-residents residing in Canadian jurisdictions that have continuing education requirements will be deemed to have met the requirement in Manitoba. Agents/Brokers residing in a jurisdiction where continuing education is not mandatory are required to comply with Manitoba’s continuing education requirements.

Residents of the United States of America are required to comply with Manitoba continuing education requirements.

NOTE: Continuing Education Credits must be obtained from an Accredited Course Provider or a course that has been individually approved by the Insurance Council of Manitoba.

Edited for ILSTV

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