Live Insurance News

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…

Insurance fraud on the rise in US and Canada

September 13, 2013September 10, 2013 Logan B.

Survey shows companies are concerned with growing prevalence of insurance fraud The results of a new survey have been released by FICO, an analytics firm, concerning the prevalence of insurance fraud in the U.S. and Canada. The survey suggests that insurance companies are expecting to see higher losses from fraud on personal insurance lines. Insurance fraud appears to be growing more common in both countries despite aggressive regulations being adopted that are meant to mitigate the impact of such practices. Insurers expect to see higher losses from fraud this year…

Insurance news about Olympic hockey shows costs are thinning the ice

September 2, 2013August 31, 2013 Julie Campbell

insurance policy news olympic hockey NHL

In order to ensure that the Sochi Olympics hockey tournament can proceed, the IOC is paying $8 million in coverage. The International Olympics Committee is making insurance news at the moment as it faces a bill of an estimated $8 million in order to pay for adequate coverage in order to ensure that the hokey tournament can continue in Sochi, Russia, next year. This announcement was made following what was called the world’s most expensive ball hockey game, in Calgary, Canada. When the Canadian Olympic hockey team gathered in Calgary…