The answer appears to be YES. That’s the conclusion of a recently released report by the Traffic Injury Research Foundation. The common typecast of the drunk driver was male – often a young man: “for several decades, road safety research has demonstrated the fatalities and injuries related to road crashes (due to alcohol or other  more...

It does happen.  And when it does, it’s a major financial migraine for policyholders. During the 2008 financial meltdown, large global powerhouse insurers were brought to their knees, requiring financial assistance from the government to get them off life-support.  (Remember AIG in the US; ING in the Netherlands?) Although the Canadian insurance industry was largely  more...

You’ve had the experience: opening your vehicle insurance renewal policy, and groaning as you digest the cost to maintain coverage for another year – and on an asset of declining value. But the value of the car itself is of less consequence in calculating the premium than you might think. The Auditor General of Ontario  more...

With gold hovering around $1700 an oz., a client recently had some jewellery reappraised.  To his surprise, the gold bracelet purchased some years ago for $1,000 was now valued at $5800. To many of us, that is good news: a luxury buy that appreciates in value!  But of course petty thieves and break-and-enter types know  more...

Insurance is an unusual purchase – we buy it hoping to never use it. But insurance on assets and against legal liability provides a degree of financial certainty in the very uncertain, and unpredictable, world of risk. That is best evidenced – and most appreciated – when the unthinkable happens! Every week, we are supporting  more...

The policyholder Hubert Thomas was described by the court as an “an elderly gentleman with very limited formal education”.  Shortly after Christmas 2007, Thomas’ home sustained fire damage resulting from a wood-burning stove. What made a bad situation much worse is this: although he had purchased an insurance policy, the insurer refused to pay the  more...

We’ve heard it from advertisers for years: using a specific product will make you look younger, feel happier, express more confidence, __________________(you fill in the blank)… But some recent cases have caused advertisers to be more cautious about stating what their products will do. Example #1: in September, Reebok agreed to pay $25 million in  more...

The reforms to vehicle insurance in this province put in place by the provincial government have run for a full year (starting September 1, 2010). And except for the very small percentage of policyholders who have initiated changes to their basic policy, this means that every driver, passenger, and pedestrian now has less healthcare coverage  more...

Everybody buys an insurance policy for protection – the right to recovery when the unforeseen happens. However, insurance policies also extend entitlements to the insurer.  When insuring property against physical damage, the insurer has the right of subrogation. In its most common usage, subrogation refers to a situation where an insurance company attempts to recover  more...

Canada’s most frequent re-occurring natural hazard is one to which other parts of the world are now encountering with greater frequency. Flooding. As referenced previously in TheRiskFactor, flooding is particularly painful in Canada because overland flooding is not covered by Canadian homeowners’ insurance policies. Coverage can be purchased for plumbing overflow and sewer-back, and many  more...