Live Insurance News

Insurance news could be changing for coverage for oil-by-rail risks

September 29, 2014September 27, 2014 Julie Campbell

Insurance news Lac Megantic train derailment

The Canadian government is looking into broadening the burden for protection against disasters. According to a recent insurance news announcement made by a government official in Canada, it is considering the expansion of the coverage burden for disasters occurring in crude-by-rail transportation. It is also thinking about developing a special fund comparable to the one once established for maritime oil spills. The insurance news could be tremendous to the industry, which continues to reel from the catastrophe that occurred when an oil train lost control and exploded in the province…

Auto insurance underwriting losses increase by 77 percent

June 27, 2014June 24, 2014 G. Turner

In Manitoba, the treacherous winter lead to a notably larger number of vehicle collisions. The compulsory auto insurance carrier in Manitoba, Canada, has now reported that it had experienced underwriting losses of almost $220 million (CAD) within the fiscal year that came to a close at the end of February. Moreover, the total number of claims that were filed with the insurer rose by 15 percent over the previous year. The Manitoba Public Insurance Corporation (MPI) has now released its annual report, in which it produce the figures associated with…

Insurance company report shows business growth and severe weather boosted claims

May 30, 2014May 27, 2014 Julie Campbell

Toronto Dominion Bank has recently released its financial results for the last quarter. Within the financial results report that Toronto Dominion (TD) Bank has recently released for the quarter that came to an end with the close of April, the revenues from its insurance company were also revealed. This included its revenues from home, auto, health, life, and travel insurance products. The total revenues showed that the insurance company brought in $936 million, which was an increase of 3.65 percent over the same period last year, which saw revenues of…

Mortgage insurance availability tightens in Canada

April 29, 2014April 26, 2014 Julie Campbell

The country’s housing agency has now restricted access even further to help to ease the price dropping trend. The housing agency in Canada has now taken yet another step to tighten the mortgage insurance availability in the country in an effort to lower the risks that are associated with the striking drop in prices. From May 30 and onward, new regulations will be put into place regarding eligibility for the coverage. The Canada Mortgage & Housing Corporation (CMHC) has released a statement from Ottawa, the country’s capital, that showed that…

Insurance news includes livestock price pilot

January 30, 2014January 27, 2014 H. Cutner

A new coverage program has now been launched in Canada for hog and cattle producers. A new livestock price coverage program has now been launched in Canada and is now making insurance news headlines as it works to help cattle and hog producers in the western provinces to cope with pricing risks. The program was announced by the federal government and will run for the next four years. This insurance news was unveiled at the Canadian Bull Congress in Alberta, by the federal government and the western provinces. It is…

Insurance law to cause RBC to incur a $160 million hit

November 18, 2013November 16, 2013 Julie Campbell

In Canada, the federal government’s efforts to close tax “loopholes” is bringing on a massive hit for one insurer. According to the Royal Bank of Canada (RBC), the latest insurance law change from Finance Minister Jim Flaherty that is designed to close the tax “loopholes” in this industry will bring with it a charge of an estimated $160 million for the insurer when it makes its fourth quarter earnings report. The insurer said that after tax, the charge will fall to $118 million, but is a direct result of the…

Auto insurance is using technology to focus on driver behavior awareness

October 3, 2013October 1, 2013 Julie Campbell

As usage based programs become more common, it is changing the future of this part of the industry. As both vehicle and telematics technology continue to evolve and usage based programs come closer to the mainstream, the auto insurance industry is placing a much greater focus on the actual behaviors of the consumer, while behind the wheel. Some industry experts feel that coverage is now becoming a tool to encourage motorists to become better drivers. At the same time, it also means that increasing automation in vehicles, to the degree…