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

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…

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Layoff insurance is thriving in the current economic situation in Alberta

layoff employment Insurance Industry - Alberta, Canada

Residents of the Canadian province are paying about $50 per month, per person, just in case. A new form of standalone layoff insurance is increasing in popularity in Alberta, Canada, and this is being seen as a fresh indicator that an economic downturn has made its way into the province. Thousands of layoffs have already occurred in the province, particularly within the energy industry. In response, an insurer is hoping to be able to profit and help people at the same time, providing them with both peace of mind and…

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New auto insurance product may help ride-share companies in Canada

auto insurance ride share

Aviva Canada aims to launch a new auto insurance product in Canada in February New auto insurance coverage for those in Canada that use their own vehicles to transport paying passengers may soon be available in February. The new coverage comes from Aviva Canada, which is looking to close gaps in the auto insurance sector, especially where ride-sharing services are concerned. This coverage may be a boon for Uber, which has come under fire recently due to concerns regarding the insurance coverage that it provides its drivers. Uber has been…

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New motorcycle insurance options launched by SGI

motorcycle insurance

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…

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Insurance industry in N.A. sees Canadian insurer sold to American company

insurance industry news

Travelers has announced that it will be making the purchase for $1.25 billion in cash. The North American insurance industry has seen another major acquisition as an American insurer, Travelers Companies Inc. has just revealed that it is making a purchase of the Dominion of Canada General Insurance Co. This purchase is being made for a total investment of $1.125 billion to buy the company outright. The acquisition is being made as a part of the attempt Travelers would like to make to expand its presence in the Canadian insurance…

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Insurance news from Western Canada may soon involve higher rates

Insurance news

Severe summer storms in the province of Alberta caused massive amounts of insured damage. The severe storms that were faced by the Canadian province of Alberta are once again making insurance news as the millions of dollars in damages may now be sending rates in an upward direction. In August, insurers in Canada had to pay out approximately $550 million for a hail storm that hit Calgary. In July and August, the province faced three separate severe storms, which each made insurance news with their multimillion dollar price tags for…

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