Live Insurance News

Insurance news for Canadian Olympic hockey could cause struggles

July 24, 2013July 22, 2013 Julie Campbell

insurance policy news olympic hockey NHL

Coverage issues have added doubt to the ability of players from Canada to head to Sochi. Hockey Canada has been dealing with a number of different issues in finalizing its plans to be able to send hockey players to the Olympic orientation camp in August 2013, but bad insurance news is continuing to stand in the way. If the current situation doesn’t turn around, it may mean that the players won’t be able to skate after all. The CEO of Hockey Canada, Bob Nicholson, has said that no decision has…

Usage based insurance pilot program being tested on motorcycles

June 7, 2013June 5, 2013 Julie Campbell

The test will be performed by SGI, which makes it among the first in the world to use telematics on these vehicles. SGI (Saskatchewan Government Insurance) has announced its proposal to begin a program that will apply usage based insurance technology to policies that cover motorcycles, joining the very first in the world to take this step. Only a small handful of other companies across the globe have intentions to test telematics for motorcycles. Usage based insurance technology functions by installing a small device into a vehicle in order to…

Off road vehicle insurance sought by ATV Federation in Canada

April 5, 2013April 3, 2013 Julie Campbell

The organization is hoping to make coverage mandatory in all of the Maritime provinces. The ATV Federation is made a call to have required off road vehicle insurance for all drivers of these machines, throughout each of the Maritime provinces in Canada, by the end of the year. At the moment, only Prince Edward Island has failed to implement this type of regulation for ATV drivers. This would require the drivers of all terrain vehicles in every Maritime province – including P.E.I. – to have to begin shopping for coverage,…

Insurance market in Canada deemed stable for this year

February 1, 2013April 30, 2013

At the same time, a Marsh outlook report predicts possible rate increases in the third or fourth quarter. According to a new outlook report issued by Marsh, the Canadian insurance market should continue to remain stable throughout 2013, though the second half of the year may bring about some modest increases in the rates. Overall, the industry in Canada performed better than other markets last year, said the report. This data was provided in the Marsh document called the Canada Insurance Market Report 2013, which offered a breakdown of the…

Insurance industry changes will likely come in the form of consolidations

January 2, 2013April 30, 2013

Sun Life, a global insurer from Canada, is seeking to find new opportunities for acquisitions. The Canadian large global insurer, Sun Life, is currently on the prowl to make more changes to its position in the insurance industry, as it seeks out new acquisition opportunities within the Philippines marketplace. The insurer has also been spotted looking for some new consolidations within the local environment. The president of Sun Life Financial Philippines, Riza Mantaring, stated that the Insurance Commission’s new and higher minimum capital requirements which will be P1 billion by…