UberX generates auto insurance controversy in Canada

auto insurance uber

UberX has received criticism for the insurance coverage it provides its drivers Ride-share company UberX has generated some controversy in Canada concerning auto insurance. Toronto’s taxi industry has voiced concerns about the insurance coverage that UberX provides its drivers. Per the company’s policies, its drivers are not required to purchase commercial auto insurance. There are concerns that the company does not ensure that its drivers have liability coverage either, which could place drivers and their passengers in a risky position in the event of a major accident. All rides on…

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Executives call for focus on flood insurance in Canada

Canadian insurers draw attention to issues concerning flood insurance coverage Insurance executives from 13 firms in Canada claim that access to comprehensive flood insurance protection in the country is inadequate. Executives recorded their opinions on the matter as part of a survey focused on the impact of devastating floods that recently struck Alberta and Toronto earlier this year. Flood disasters are becoming more common throughout Canada and executives believe that appropriate flood insurance coverage will not be available to consumers unless major action is taken on the matter. Alberta and…

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Flash floods in Canada put pressure on insurance industry

Canada flood insurance industry

Insurance industry sees spat of floods in Canada Toronto, Canada’s largest city and the provincial capital of Ontario, has fallen victim to devastating flash floods that could have a prominent impact on the insurance industry. Catastrophe modeling firm AIR Worldwide has released a new report concerning the flash floods and the impact that have had on the city. The report notes that in a matter of hours, powerful storms produced more than 4 inches of rainfall on July 8th, leading to unexpected flooding in many parts of the city. Flood…

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Magnitude 5.8 Earthquake Strikes Virginia and Rattles the Eastern United States

According to catastrophe modeling firm AIR Worldwide, the largest earthquake to strike Virginia in more than a century rattled buildings in downtown Richmond and caused evacuations across the east coast today. A strong earthquake struck at 17:51 UTC (1:51 p.m. local time) near Mineral, Virginia, a town with a population of about 500. The epicenter was about 40 miles northwest of the state capital, Richmond, and about 83 miles southwest of Washington, DC. The USGS issued a preliminary magnitude estimate of 5.8, revised it upward to 5.9, and subsequently downward…

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