Healing from Hail: IBC ready to help following destructive hailstorm in Calgary
Calgary, Alberta — The Insurance Bureau of Canada (IBC) has reported that it is ready to help those recover from a destructive hailstorm that occurred in the Calgary, Alberta, area on August 5, 2024. The hailstorm in question specifically occurred on Monday evening, wherein Environment Canada meteorologists issued an emergency alert for Calgary and other […]
A Catastrophic Calendar: IBC reports insured losses from Nova Scotia’s 2023 wildfires and flooding now approaching half a billion dollars
Halifax, Nova Scotia — The Insurance Bureau of Canada (IBC) has released a “One-Year Update Following 2023 Nova Scotia Wildfires and Flooding” report that details that insured losses in the province are now approaching half a billion dollars. The report specifically highlights the aftermath of two storms that affected the province in the late spring […]
Policy Problems: Profitability issues challenge Alberta insurers; authorities seek solutions
Edmonton, Alberta — The Alberta insurance market is facing significant challenges, leading to the withdrawal of several major auto insurance providers from the province. Earlier this month, Aviva Direct and Sonnet Insurance announced the groups will be ending available auto insurance services in Alberta by late 2024, following in the footsteps of Zenith Insurance’s exit […]
Reporting Resources: ASSI launches site for collision reporting from home in Ont., Alta., P.E.I.
Toronto, Ontario — Accident Support Services International Ltd (ASSI) has announced its “Start From Home” online service to allow citizens who have been involved in a collision to begin their own collision report. The service, which can be accessed through reportacollision.com, specifically allows citizens who have been involved in a collision that meets the threshold […]
Flooding Fixes: FSRA allowing licensed adjusting firms to use claims adjusters licensed outside of Ontario as response to recent Toronto flash-flooding
Toronto, Ontario — The Financial Services Regulatory Authority of Ontario (FSRA) has implemented temporary measures to allow claims adjusters to process insurance claims more quickly, following flash floods that affected the Toronto area last week. Specifically, the FSRA is temporarily allowing licensed adjusting firms to use claims adjusters licensed outside of Ontario. The FSRA is […]
Payment Proposals: Conseil D’Experts Sur Les Contributions D’Assurance Automobile reveals recommendations for the creation of streamlined insurance categories for commercial vehicles
Quebec City, Quebec — The Counseil D’Experts Sur Les Contributions D’Assurance Automobile has announced that an expert panel on Quebec auto insurance has welcomed a recommendation to introduce four new, streamlined insurance categories for commercial vehicles in the province. In a recent press release, the Counseil specifically notes that “after reviewing the approach taken by […]
Annual Insights: SGI 2023-2024 Annual Report reveals $78 million in net income; overall claims costs down
Regina, Saskatchewan — Saskatchewan Government Insurance (SGI) reported $78 million in net income in its 2023-24 annual report, which was tabled in the Legislative Assembly on July 8, 2024. From 2023 to 2024, overall claims costs were down, thanks in part to fewer storms throughout the year, leading to fewer catastrophic claims and their related […]
Adiós Aviva: Aviva to discontinue its Aviva Direct insurance program in Alberta by January 2025 due to lack of profitability
Edmonton, Alberta — Aviva Canada has announced its intention to phase out its Aviva Direct home and auto business insurance program in Alberta in early January 2025, citing lack of profitability as the reason for the discontinuation. Aviva direct customers in the province will receive letters in the mail to inform them of the change. […]
Climbing Claims: Rising windshield claims cost ICBC more than $100 million each year, says recent report
Victoria, British Columbia — Data collected by the Insurance Corporation of British Columbia (ICBC) shows that there is a growing number of glass repair and replacement claims across the province, with the ICBC paying more than $100 million each year. While the Crown corporation did not speculate on the reasons behind the increase, data shows […]
All Hands On Deck: SGI reports 2,500 autoclaims from weekend storm in Saskatchewan
Regina, Saskatchewan — Saskatchewan Government Insurance (SGI) has reported that as of Tuesday afternoon, the insurer has handled 2,527 autoclaims as a result of a storm system that moved across the province over the weekend. Of the claims currently filed, SGI has further reported that most were due to hail damage. SaskToday further noted that […]
