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IBC urges Northern Ontario MPPs to defeat Bill 45
Bill would ban use of territory as a rating factor in auto insurance; IBC’s Ralph Palumbo says MPP’s “meddling” is “reckless”
Tag: "Insurance Bureau Of Canada"
Slave Lake region marks one year since historic wildfires
By ILSTV Staff on May 15, 2012 in Natural Disasters
“We are approaching the first anniversary with mixed emotions,” said Town of Slave Lake Mayor, Karina Pillay-Kinnee
Starting July 1, some insurance premiums to be taxed in Manitoba
IBC says addition of 7 percent Retail Sales Tax will hurt consumers
Insurance industry drives $780 million to New Brunswick economy
By ILSTV Staff on Apr 20, 2012 in Canadian Insurance
New Brunswick’s insurance industry directly contributed $440.1 million in 2010 to the provincial economy. When all spinoff effects are included, the total impact rises to $781.2 million
Minimizing the risk of volunteerism
As National Volunteer Week continues (April 15 to 21), the Insurance Bureau of Canada (IBC) is reminding volunteers and their organizations to ensure they are protected by the right insurance
IBC ‘encouraged’ about government’s commitment to disaster mitigation
Don Forgeron, President and CEO of Insurance Bureau of Canada, is encouraged that the Government is committed to discussing issues associated with the impact of severe weather
Ontarians willing to report insurance fraud, but don’t know how
Consumers understand and recognize insurance fraud, but are stumped when it comes to reporting procedures
Busted: Four true tales of Canadian insurance fraud
To mark March as Fraud Awareness Month, IBC has compiled a few of the more bizarre fraud cases it has come across lately
Sewer backup makes up 39% of water-related claims: Allstate Canada
“Water seems to be the new fire as it is now the leading cause of property damage in Canada,” said Karen Benner, spokesperson for Allstate Canada
Canada’s aging water, sewer infrastructure to blame for water damage: IBC
Insured water losses in Nova Scotia rose from more than $20 million in 2005 to more than $38 million in 2009; in New Brunswick water losses rose from $7 million in 2005 to $23 million in 2009
Protecting your home from water damage
“Homeowners should also talk to their insurance representative about purchasing sewer backup coverage as an add-on to their insurance policy,” suggests IBC
Canadian police to be trained on identifying, investigating staged collisions
The Insurance Bureau of Canada (IBC) and the Canadian Police Knowledge Network (CPKN) are sponsoring training so police officers across the country can learn more about staged accidents
Alberta windstorms cost $200 million in insured damage
“There is no doubt that we are seeing more and more the impact of severe weather in Alberta,” said IBC’s Doug Noble
“Too many people are using the auto insurance system as a profit-making opportunity,” says IBC
IBC reacts to Auditor General of Ontario’s report
RCMP charge four in stolen vehicle and insurance fraud scheme
Accused used fraudulent documents to register vehicles they didn’t own, sold vehicles with cloned Vehicle Identification Numbers
York police dismantle $10 million fraud ring
Investigation identified suspects who had used fake passports to defraud banks, staged motor vehicle collisions to defraud the insurance industry and leased vehicles under aliases in order to defraud leasing companies
Ontario’s P&C insurance industry contributes $7.5 billion to provincial GDP
By ILSTV Staff on Nov 10, 2011 in Canadian Insurance
From executive level presence and head offices located in Toronto to smaller offices in communities across Ontario, more than 2 out of every 100 people employed in the private sector in Ontario work for the insurance industry
Insurance industry to G20 leaders: Traditional insurance business does not pose a systemic risk
By ILSTV Staff on Nov 04, 2011 in International Insurance
“Insurers use rigorous risk management strategies and direct premiums into secure investments that appropriately match the expected amount of benefits paid and the duration of the policies. Banks, by comparison, are far more prone to asset-liability mismatches, which can lead to a liquidity squeeze”
