Tag: insurance bureau of canada

Insurance industry in Canada sends warning to Uber

G. Turner
auto insurance car headlights

The ride share program is entering into more cities, but standard auto coverage may not be enough. The top regulator in the Canadian insurance industry has now issued a warning to the popular ride share program, Uber, to warn the company, its drivers, and its customers that personal auto insurance will not be adequate for their purposes. The Insurance Bureau of Canada (IBC) has cautioned that personal auto won’t provide the needed coverage. The warning from this national insurance industry association has said that if an Uber driver is involved…

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Insurance claims pouring in with Arthur rains

H. Cutner
insurance industry claims

The Atlantic coast of Canada was pummeled with heavy downpours and high winds from the post-tropical storm. The insurance claims are already beginning to be filed in waves that were nearly as heavy as those off the coast following the rampage from post-tropical storm Arthur as it made its way through the Canadian Maritimes. Agents are asking residents of the affected provinces to please be patient and review to their policy coverage. The majority of homeowners insurance policies do cover wind damage, which does not fall under the definition of…

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Insurance news in Canada shows criticism of insurer influence

Julie Campbell
Auto insurance mechanic body shop repair

The IBC has responded by rejecting any accusations of having a “steering” policy. The Insurance Bureau of Canada (IBC) has found itself in the insurance news spotlight, as it faces criticism suggesting that insurers are steering their policyholders toward certain specific body shops in order to be able to have their vehicles repaired following a collision. Those accusations are being outright dismissed by the IBC, saying that they are untrue. The IBC’s vice president, Atlantic, Amanda Dean released an insurance news statement that said that insurers do not have “steering”…

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Auto insurance fraud gets more attention in Ontario

Logan B.
insurance fraud

Insurance Bureau of Canada wants more action to be taken on the problem of insurance fraud Auto insurance fraud is on the rise in Ontario, Canada, and some insurers believe that relatively little is being done to resolve the issue. The Insurance Bureau of Canada is beginning to urge the provincial government to take action on the issue with the re-introduction of legislation that is meant to specifically combat insurance fraud. The legislation is known as the Fighting Fraud and Reducing Automobile Insurance Rates Act and insurers believe that it…

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Homeowners insurance customers in Quebec lack an understanding of their coverage

Julie Campbell
Quebec homeowners insurance

This virtually universal problem was just demonstrated in a survey specific to that Canadian province. The results of a survey conducted by the Insurance Bureau of Canada (IBC) has shown that a strikingly large number of homeowners insurance policyholders in the province of Quebec do not have a solid understanding of the ways in which their homes and properties are protected. About half of the people surveyed erroneously felt that they had coverage against an overflowing body of water. As one in every two people in Quebec feel that their…

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