B.C. residents pay most for home insurance in Canada: InsurEye study

Posted on March 13th, 2012

Canadians pay an average of $840 annually for their home insurance, with prices strongly varying across provinces, according to research by InsurEye Inc.

The highest level of home insurance premiums is in British Columbia at $924 annually, followed by Alberta with $912 annually. Annual home premiums in Ontario go as high as $828, and in Quebec they reach $768 per year.

“A glance at real estate statistics delivers the first answer why British Columbia home insurance prices are so high,” InsurEye says in a press release. “According to MLS statistics, B.C. is cl

Zurich Canada simplifies access to equipment breakdown coverage

Posted on February 28th, 2012

Zurich Canada has added an online product to its portal that gives brokers access to builders’ risk and equipment breakdown coverage and allows them to quote and bind business quickly and easily.

EBmadeEZ allows stand-alone equipment breakdown policies to be quoted and issued in just a few minutes directly from a computer. There is no need for supporting business coverage and the solution suits both small and large size organizations.

Minimum premium is as low as $300. EBmadeEZ can insure up to 20 locations and $50 million in total insured value.

When the coverage is placed, 13 additional coverages are automatically included in the policy and a variety of optional coverages can be purchased. T

Steve Lucas appointed vice president of national accounts at ACE Canada

Posted on January 25th, 2012

ACE Canada, the Canadian-based operating division of the ACE Group, has appointed Steven Lucas as vice president of national accounts.
Lucas will be responsible for leading the business development strategy and will act as the principal contact for ACE Canada’s national account segment. He will report to David Brosnan, country president of ACE Canada.
Lucas has approximately 10 years of insurance experience. Previously he served as assistant vice president for ACE Canada’s management liability division. He started his career with ACE Canada in 2005 as a senior underwriter specializing in directors and officers insurance.

Tags: Ace Canada, Canada, National Accounts
No Comments »

Court finds direct writer didn’t explain optional benefits properly, but dismisses action against Meloche Monnex

Posted on January 15th, 2012

The Ontario Superior Court has found that a direct writer breached its duty of care in offering optional benefits to a consumer. Nevertheless, the court dismissed the claim against Meloche Monnex because it found the claimant would not have purchased the optional benefits anyway.
The case concerns an auto accident that occurred in May 2007. It does not address optional benefits offered under the reformed Statutory Accident Benefits Schedule (SABS). Under the new SABS, implemented in 2010, a wider array of optional benefits is available to consumers.
In , the plaintiff in the case, Nicola Zefferino, was a named insured under a policy offered by Meloche Monnex.

Law Society of B.C. expands lawyers’ professional indemnity coverage to respond to “bad cheque” scams

Posted on January 3rd, 2012

The Law Society of B.C. (LSBC) has broadened the scope of lawyers’ professional indemnity coverage to respond to trust fund shortfalls resulting from various forms of “bad cheque” scams.
Typically, the scams involve between $200,000 and $350,000, with one matrimonial scam approaching $2.6 million, noted a report presented to the law society’s board of directors in December.
The report says a common version of the scam has a client retaining a lawyer to recover an outstanding debt from a third party.
The lawyer sends a demand letter to a third party on behalf of the client. The lawyer will subsequently receive a bank draft from the third party that covers all or a certain portion of the debt owed. The lawyer will then deposit the cheque into a trust account, deduct his or her legal fees, and then issue a trust cheque to the client for the balance.

Matching touring caravan insurance to your reality

Posted on December 11th, 2011

Car Insurance Solutions

Compare car insurance rates from multiple auto insurance companies immediately online