Live Insurance News

Canadians wrongly feel they have flood insurance with their homeowners policies

February 26, 2016February 24, 2016 Julie Campbell

A recent study has found that 65 percent of people in that country believe they have protection they don’t. A recent survey conducted by Square One has determined that among the 1,500 Canadian participants, 65 percent erroneously believed that they had flood insurance included within their homeowners policies. This misconception about the coverage was more common in some provinces than it was in others. For instance, homeowners insurance customers living in Manitoba were the most likely to think they were protected against overland flooding. Equally, those in Saskatchewan were the…

RBC Insurance is selling its home and auto business to Aviva Canada

January 26, 2016January 26, 2016 Julie Campbell

This will bring about the shift in employment of about 575 employees from one company to the next. The RBC Insurance company in Canada has announced that it will be selling both its home and auto businesses to Aviva, in a massive move that will require some employees to move to the new insurer while others remain with the Royal Bank of Canada. It has been estimated that 575 people will be swapping insurance companies while the remainder will stay put. Initial reports have stated that RBC Insurance will be…

Cyber insurance gets a boost in Canada as CROs recognize its importance

December 21, 2015December 20, 2015 Julie Campbell

cyber insurance Canada pension plan employment insurance industry

As data breaches become more commonplace and receive more media attention, companies are protecting themselves. While companies in Canada had been following the cyber insurance trends seen in many other countries, the insurance news headlines involving some massive data breaches including ransomware, threats and demands for payment. With these events becoming more visible and more common, companies are turning to insurance companies. The trend skyrocketed after the Canadian site Ashley Madison experienced a tremendous data breach that saw worldwide media coverage. To many businesses in the country, this made it…

New motorcycle insurance options launched by SGI

June 5, 2015June 4, 2015 Julie Campbell

The changes to the available coverage have been sparking controversy among riders since they were first proposed in 2013. The Government of Saskatchewan, a province of Canada, has now announced that it will be adding more motorcycle insurance options for riders throughout the region, in a move that had first been proposed two years ago. Back when the idea was first suggested, in 2013, many riders expressed anger about the changes. The Saskatchewan Government Insurance (SGI) made this announcement, saying that a new third option will be opening up for…

Ontario auto insurance customers may have overpaid by billions

April 14, 2015April 11, 2015 H. Cutner

The results of a new study have shown that drivers in the Canadian province may have been charged far too much. A new study conducted by the Schulich School of Business on behalf of the Ontario Trial Lawyers Association has revealed that drivers in Ontario, Canada, may have been paying billions of dollars too much for their auto insurance coverage. The research showed that from 2001 to 2013, drivers across the province paid between $3 and $4 billion too much. The study has pointed to the profit benchmark that was…

Life insurance won’t be impacted by doctor-assisted suicide ruling

February 9, 2015February 7, 2015 Julie Campbell

An industry association has said that the Canadian court decision won’t have a significant affect. An insurance industry association has released a statement with regards to the potential affect on life insurance of the very recent ruling by the Supreme Court of Canada that has overturned the previous ban that had prohibited doctor-assisted suicide. The association said that the impact that will occur on that industry will not be a significant one. The ruling from the top Canadian court was made on Friday, in a unanimous decision to strike down…

Insurance coverage for in vitro fertilization to end in Quebec

December 4, 2014December 1, 2014 Julie Campbell

The Canadian province is making a dramatic cutback in one of its most openhanded fertility treatment public funding plans. Since the creation of the generous public funding program in Quebec, Canada for fertility treatments was first created four years ago, its costs have skyrocketed, causing the province to slash back the insurance coverage that it had been providing for in vitro fertilization. Gaétan Barette, the Health Minister of Quebec recently tabled a bill ending in vitro medicare coverage. The insurance coverage for in vitro fertilization had, for the last four…