NatCat Navigations: 2024 insured NatCat losses could reach $9 billion by end of year, says ICLR executive
Toronto, Ontario — According to recent reports, Canada’s property and casualty insurance industry is set to pay close to $9 billion in natural catastrophe (NatCat)
Revved Up: Atlantic auto theft up 13 percent in the first half of 2024; Nova Scotia hit hardest
Halifax, Nova Scotia — Newly released data from the Insurance Bureau of Canada (IBC) indicates that Atlantic Canada is becoming a “hot spot for auto
Underwriting Uncertainties: GEICO terminating insurance coverage for Tesla’s Cybertruck, says vehicle doesn’t meet underwriting guidelines
Toronto, Ontario — GEICO has revealed that it will not be covering Tesla’s Cybertruck under its insurance system, saying that the vehicle doesn’t meet its
Claim Pain: New report indicates that automotive insurance costs in Alberta could increase 87.6 percent by 2033
Edmonton, Alberta — A new report from MNP prepared for the Insurance Bureau of Canada (IBC) indicates that the Alberta government’s automotive insurance cap is
Hailstorm Hardships: IBC reports that recent Calgary hailstorm will continue to put pressure on Alberta’s insurance system
Calgary, Alberta — The Insurance Bureau of Canada (IBC) is warning that more automotive insurers could be pushed out of the province following an August
Aviva Advisory: Insurer warns of ghost brokers in Canadian market
Toronto, Ontario — Aviva Canada is cautioning Canadians to beware of a ghost broker known as AllcoveredbyAviva or Allcoveredbrokers advertising on social media sites such as Facebook, claiming to
Costly Claims: Calgary hailstorm in August results in nearly $2.8 billion in insured damages, says CatIQ estimates
Calgary, Alberta — The Insurance Bureau of Canada (IBC) has indicated that the hailstorm that hit the Calgary, Alberta area in early August has resulted
On the Rise: Summer 2024 severe weather results in 228,000 claims; a 406 percent increase compared to previous 20-year average, says IBC
Toronto, Ontario — Canada’s home, auto and business insurers are reporting the most challenging summer on record for damage from weather events and natural disasters,
Easy at 1-2-3: Aviva sees 123 percent increase in fraudulent motor vehicle damage claims in 2023
Toronto, Ontario — Aviva experienced a significant increase in fraudulent motor vehicle damage claims in 2023 compared to the year prior, a recent report from
Tech Trends: Insurers employ new technology as leading strategy for industry issues, says Reuters report
Toronto, Ontario — Insurers are adopting technology like generative artificial intelligence as a leading strategy against industry challenges, according to a new report from Reuters.
Flooding Fallouts: July flash floods in Toronto and Southern Ontario caused over $940 million in insured damages, reports IBC
Toronto, Ontario — According to the Insurance Bureau of Canada, the flash flooding that took place in Toronto and other parts of Southern Ontario between
Hunger Pains: Intact says its ‘appetite’ in Alberta auto insurance market reducing
Edmonton, Alberta — Intact Financial Corp says its appetite for Alberta auto insurance business is “reducing” in light of the provincial auto insurance rate cap.
