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All Articles
Hub International acquires Toronto’s Sinclair Cockburn Financial Group
Hub International Limited (Hub) has acquired the shares of Sinclair Cockburn Financial Group (SCFG), a Toronto, Ontario-based insurance and financial services firm with approximately $11 million in annual revenues. Under the terms of the acquisition, Hub acquired the Property & Casualty, Personal Insurance and Group/Life Insurance operations of SCFG but not SCFG’s mortgage and mutual [...]
In race to meet IFRS deadline, many companies are running to the finish line
A recent report on Canadian companies in their four-month race to convert to International Financial Reporting Standards (IFRS) indicates that small and medium-sized companies are not as far along in their conversions as large companies. That’s one of the many findings from a research study titled IFRS Readiness in Canada: 2010 conducted by the Canadian [...]
What Ontario drivers should do: A medical take
View the video here on your mobile device. The auto insurance reforms that started in Ontario on September 1 were developed to help the insurance industry keep a control on costs, while also allowing customers more choice in their policies. Dorianne Sauvé, Co-Chair of the Coalition Representing Health Professionals in Automobile Insurance Reform, says that [...]
Top 10 bailed out banks spent over $16 million in 2010 first half lobbying on financial reform
The 10 banks that received the most bailout aid during the financial crisis spent over $16 million on lobbying efforts in the first half of 2010, as the debate over financial regulatory reform reached its height. Disclosure reports show that the banks that got the most government help in late 2008 and early 2009 also [...]
Annual cost of U.S. car crashes exceeds $99 billion
The cost of medical care and productivity losses associated with car accidents costs Americans more than $99 billion in an average year – with the cost of direct medical care accounting for $17 billion, according to a study by the Centers for Disease Control and Prevention. The total annual cost amounts to nearly $500 for [...]
What Ontario drivers should do: IBC’s take
View the video here on your mobile device. As part of the Ontario government’s measures to increase consumer choice in auto insurance, housekeeping and home maintenance expenses and caregiver benefits were made optional. Barb Sulzenko-Laurie, IBC’s Vice President of Policy, explains how the housekeeping benefit has changed over the last few years, and what she [...]
What Ontario drivers should do: A lawyer’s take
View the video here on your mobile device. There are more than nine million licensed drivers in Ontario and as of September 1, their insurance could change. Patrick Brown, former president of the Ontario Trial Lawyers Association and a partner with law firm McLeish Orlando, says that consumers need to be aware of what their [...]
Man sues attorneys for $38 quadrillion
A Las Vegas man is suing a Nevada law firm for $28 quadrillion. John Theodore Anderson said the former owner of a Utah mine owes him money, so he put a $918 billion lien on the property. When a client of law firm of Shumway, Van and Hansen attempted to sell the property, it couldn’t [...]
Two Quebec hospitals closed because they don’t meet earthquake standards
One hospital in Quebec’s Charlevoix region will be demolished and another will undergo major renovations after a study for the provincial government determined they don’t meet standards to withstand earthquakes. Health services in the area northeast of Quebec City will have to be redeployed while the work is done, officials told a news conference Saturday [...]
What came first: insurance fraud or Ontario auto insurance reforms?
View the video here on your mobile device. Whether they know it or not, Ontario drivers are suffering due to fraud. According to a recent RBC Insurance roundtable, fraud costs represent about $1.3 billion of $9 billion in premiums. It’s not always cases of odometer rollback and VIN swapping that ramp up the costs, though [...]
Two-thirds of dog owners admit to engaging in distracting activities with their dogs while driving
Millions of Americans recognize that dogs are wonderful companions and bring their favorite furry friend along on road trips, day trips and even day-to-day errands. However, in a vehicle this can mean added distractions for the driver. A recent survey conducted by AAA and Kurgo asked dog owners how often they drive with their dog [...]
Canada’s five biggest banks earned $4.8 billion in third quarter
Canada’s five biggest banks earned a combined $4.8 billion in third quarter profits, nine per cent more than last year, as they cashed in on strong growth in mortgages, consumer and corporate loans and other retail operations. While the results were higher than the $4.4 billion in profits booked in the same 2009 period, the [...]
John McArthur shares his thoughts on Ontario’s Auto Reforms
View the video here on your mobile device. John McArthur, the chairman of AMAC Consultants, Inc. shares his thoughts on the pending Ontario auto reforms. John McArthur: I chaired the Claims Committee for the Insurance Bureau of Canada in 1990 or thereabouts when the first auto reform legislation was implemented in Ontario, and there have been two iterations [...]
September is Pet Health Insurance Month
September marks the fifth annual National Pet Health Insurance Month. Throughout the month, Petsecure, Canada’s oldest and largest pet insurance company, will be sponsoring a nationwide contest and teaming up with major partners within the pet community to promote the importance of pet insurance. “Over 50% of Canadian households have pets, though only 1% of [...]
The impact of auto reform on Ontario residents
View the video here on your mobile device. The Insurance Bureau of Canada and the Financial Services Commission of Ontario have stated that the changes to the province’s auto insurance system will give consumers choice while still providing the most generous medical and rehabilitation benefits in the country. ILSTV asked IBC’s Vice President of Policy [...]
