Holding Steady: ICBC files to freeze basic insurance rates for next two years
Vancouver, British Columbia — The Insurance Corporation of British Columbia has filed an application with the British Columbia Utilities Commission (BCUC) for no increase to basic insurance rates for the next two years. “Holding firm on ICBC’s basic insurance rate for two more years will help millions of drivers with their monthly bills amid global […]
Divide and Prosper: Credit score discrimination by auto insurers growing in N.B. despite opposition
Saint John, New Brunswick — The New Brunswick Insurance Board continues to approve insurer requests allowing credit scores to determine driver insurance rates, despite criticism that the practice carries discriminatory implications. Notably, the independent Office of the Attorney General has criticized the practice as unfair, given that the province has the most drivers per capita […]
Frugal Finances: NDP calls out high Saskatchewan auto insurance rates
Saskatoon, Saskatchewan – A New Democratic Party (NDP) critic has called out Saskatchewan Government Insurance (SGI) for failing to reduce insurance rates, despite a healthy financial year. After “a record-setting catastrophic storm and issues arising from the COVID-19 pandemic,” a recent press release said that SGI remains financially stable. This comes after the provincial legislature reviewed […]
Getting on Board: State Farm Claims Consultant Ed Mondragon joins CIECA Board of Trustees
Toronto, Ontario — Ed Mondragon, a property and casualty (P&C) claims consultant in State Farm’s Consulting Services department, joined CIECA’s board of trustees effective immediately. In his new role, Mondragon will support CIECA’s mission to develop and promote electronic data integration standards. “I have a passion for improvements that benefit customers and employee experiences,” said […]
Funnel Cloud Fees: Barrie tornado losses may eclipse those of 2014 Angus tornado, expert says
Barrie, Ontario — Although it is still much too early to make a true estimate of the damages caused by the Barrie tornado, one expert predicts the losses from the July 15 event could significantly exceed those from the 2014 Angus twister. Glenn McGillivray, the managing director of the Institute for Catastrophic Loss Reduction told […]
Fraud Stoppers: Terri O’Brien appointed as CEO of anti insurance fraud organization
Toronto, Ontario — Terri O’Brien has been appointed as the CEO for Équité Association, the Canadian insurance industry’s first corporation dedicated to eliminating insurance crime. O’Brien brings over 25 years of experience of financial services to her new role. Prior to Équité, O’Brien was Chief Risk Officer (CRO) at Pace Credit Union, CRO at Interac […]
Done Deal: MPI signs new deal with auto repair shops
Winnipeg, Manitoba — Manitoba Public Insurance (MPI) recently announced it has signed a new deal with the Automotive Trades Association of Manitoba (ATA) and the Manitoba Motor Dealers Association (MMDA). All parties have given the thumbs up to a new Light Vehicle Accreditation Agreement (LVAA) model, which is focused on meaningful consultation between the repair […]
Allstate Aboard: Ryan Michel appointed Chair of Board for Insurance Bureau of Canada
Toronto, Ontario — The Insurance Bureau of Canada (IBC) recently elected Ryan Michel, president and CEO of Allstate Insurance Company of Canada as the Chair of its Board of Directors. “Through IBC, we will continue to engage governments and stakeholders to turn challenges into opportunities to benefit Canadian consumers. I look forward to continuing this […]
No Longer Hidden: FSRA warning consumers Hidden Ace Brokerage is not licensed to conduct insurance business in Ontario
Toronto, Ontario —It has come to FSRA’s attention that Hidden Ace Brokerage is conducting an auto insurance business without a licence to sell. The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that Hidden Ace Brokerage is not licensed by the Registered Insurance Brokers of Ontario (RIBO) and is not licensed as […]
To be Fair: New ICBC Fairness Officer role approved
Victoria, British Columbia — The Insurance Corporation of British Columbia (ICBC) has created a new position focused on ensuring the corporation makes “fair” and “transparent” decisions related to its newly launched enhanced care plan. With the introduction of ICBC’s new Enhanced Care coverage on May 1, 2021, any British Columbian injured in a crash will […]
