Insurance news from the pipeline reveals massive $1 billion coverage needed

insurance news pipeline coverage

A Canadian federal review has revealed that the Northern Gateway project will require substantial protection. The new proposed endpoint for the Enbridge Northern Gateway Project is the Douglas Channel in, and the latest insurance news estimates show that the pipeline will require nearly $1 billion in coverage. A joint federal review has released its 199 draft conditions despite the fact that the pipeline has not yet been approved. The Gateway pipelines have not yet received their approval, but the project is already making insurance news headlines as a joint review…

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Off road vehicle insurance sought by ATV Federation in Canada

ATV off road vehicle insurance

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,…

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Insurance news from the ORNGE scandal in Canada deepens

insurance news from the provincial government in Ontario, Canada, ORNGE, a company that is already wracked with scandal in terms of its taxpayer money spend

It has now been revealed that the company spent taxpayer funds on a $10 million life policy for the CEO. According to the latest insurance news from the provincial government in Ontario, Canada, ORNGE, a company that is already wracked with scandal in terms of its taxpayer money spending, used public funds to purchase a $10 million life policy for Dr. Chris Mazza, the former CEO of the company. That coverage is estimated to have cost taxpayers $450,000 according to the Tory report. The insurance news deepened when it was…

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Insurance market in Canada deemed stable for this year

Canadian insurance market

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…

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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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