Jan 21, 2014 | News
A year of severe weather cost Canada’s property and casualty insurers $3.2 billion in 2013 – the highest payout ever for Canada’s property and casualty insurers.
Insured losses reached more than $3 billion last year, after devastating flooding, hail and ice storms caused extensive damage across the country, industry association Insurance Bureau of Canada (IBC) announced Monday.
“In 2013, the terrible effects of the new weather extremes hit Canadians hard,” Don Forgeron, chief executive of IBC, said in a press release. “From the Alberta floods last summer to the ice storms in Ontario and Atlantic Canada over the holidays, frankly, bad weather hit insurers hard, too.”
The widespread rainfall and flooding that swept through southern Alberta in June last year clocked in as the country’s most expensive natural disaster on record. Insured damages from these storms exceeded $1.7-billion, according to IBC. Extensive storms in Toronto last summer also broke records as the most costly insured natural disaster in the province of Ontario’s history, IBC said. Insured damages reached $940-million as thousands of homes and businesses were flooded and lost power.
Flooding and water damage has exceeded fire as a source of insurance claims in Canada in recent years.
“Canadian communities are seeing more severe weather, especially more intense rainfall,” Forgeron said in a statement. Insurers are working with governments to try to mitigate the effects of these disasters, he said.
Both insurance companies and the reinsurers that back up excesses insurance industry losses are developing technologies to help predict extreme climactic events, and limit impacts.
Reinsurance firm Swiss Reinsurance Co. Ltd. has invested in a satellite mapping system called CatNet that creates precise flood, tornado and hail zones that help insurance companies quickly understand the extent of storms, and help adjusters process claims quicker. The system also helps insurers predict where damage is likely to occur, and plan for the expense of future claims.
IBC has created a system that assesses a municipality’s weak spots for sewer backup damage. The predictive tool, called the MRAT (Municipal Risk Assessment Tool), identifies where a city’s infrastructure is weak now, and where it may be vulnerable in the future.
The increasing frequency and severity of natural disasters has also prompted some insurers to make changes to their home, car and business insurance policies and increase premiums to reflect the increasing risks associated with weather.
For more information about how to protect yourself from severe weather, visit ibc.ca
Insurance agents in Canada are continually upgrading their knowledge, with continuing education training for insurance agents being mandatory in most provinces, and they are your best source for insurance information.
A reminder for insurance agents in BC and Manitoba: your continuing education deadlines are May 31. Alberta agents: your new CE deadline is June 30.
Excerpted from ILStv
Jan 17, 2014 | News
You still have time to share and win to start off your New Year. We want to know what you want to learn in 2014, and give you the chance to win your choice of courses from ILScorp!
A number of entries are rolling in, and we’re excited to hear what you want to learn. From general ideas, to specific courses, agents across Canada know they can benefit from online insurance training from ILScorp.
Leslie B. tells us she wants to “I want to learn more about the Management side of Insurance and therefore, (is) look(ing) forward to taking CAIB4,” while Lorelei W. says she wants to “learn more on completing business income work sheets and equipment breakdown.”
Angele C shared that she wants to “learn to be an expert in marketing in 2014.”
Debbie is excited to complete the ILS Introduction to General Insurance: “I work in a insurance office doing the motor vehicle and have attempted the fundamentals book as it was really difficult to understand. A few of my co-workers have completed the ILS course with great success, and the book was fun and easy to read. I would love to have the opportunity to complete it with this course. I am so motivated to try this!!”
Meanwhile Steve H. says he wants “to learn more about high net worth client retention in 2014.”
What do you want to learn in 2014? Let us know on our Facebook page which skills or subjects you’d most like to learn this year by filling in the blank: I want to learn ___________________ in 2014.
Whether you’re ready to begin your career in insurance, looking to upgrade your license, increase knowledge in specific areas of insurance, or learn business skills including time management and leadership, ILScorp has online courses to help you improve your professional life. Regardless of your goals, you’ll find online insurance training to suit your needs.
Share your answer on our Facebook page by next Friday, Jan. 24, 2014, and you could win the chance to “learn more and earn more” with ILS. To help you achieve your 2014 learning goals, we’ll select contest five winners from these comments, who will receive up $500 worth of ILScorp online courses. Enter today!
Winners receive an ILScorp subscription or ILScorp course valued up to $500. All prizes must be redeemed by May 1, 2014.
* No cash value. Does not apply to previous purchases. Is not transferable to another person.
Jan 16, 2014 | News
Today’s ILStv insurance news update includes stories about commercial insurance for drones, and how to police the “internet of things” – that futuristic world of self-driving cars, eyeglasses that e-mail and trash cans that call for pickup, which is now is running into the old-fashioned pace of doing business for North American law makers and regulators. A story yesterday highlighted the top five tech insurance trends for the coming year.
With technology rapidly developing into previously unconsidered areas, changes are coming to insurance, with new concerns over privacy protection, commercial liability, and even transportation issues.
ILScorp’s online continuing education course catalogue features hundreds of hours of CE credits, with many updated and recently re-accredited courses. ILS takes pride in providing the most current and up-to-date online insurance education.
But we’re always looking to get better. With that in mind, we’ve been asking you to share what you want to learn in 2014, and enter to win up to $500 worth of ILS courses this year. The contest runs until Jan. 24 on our Facebook page. Jump over and share with us on Facebook what you want to learn this year!
Not yet subscribed to the daily or weekly edition of the ILStv newsletter? Get the latest in insurance news direct to your inbox – sign up today!
Jan 15, 2014 | News
Alberta has phased in a new deadlines for all continuing education requirements for insurance agents in that province. General Insurance, Life and A&S, and Adjusters will all have a June 30 deadline for completing CE hours each year.
The changes began with the Life and Accident and Sickness agent renewals in December of 2012, with holders receiving a certificate that will expire on June 30, 2014. This is an additional 135 days and the fee for the certificates are prorated accordingly. CE requirements remain at the current 15 hours.
In April 2013, Adjusters certificate holders were issued a certificate that will expire on June 30, 2014. This is an additional 30 days. Continuing Education requirements remain at the current 15 hours.
In September of 2013 General Insurance Agents received certificates that will expire on June 30, 2014, resulting in a license term that is reduced by approximately four months. The fee for this group of certificates will be reduced on a prorated basis. Continuing Education requirements for general insurance agents are reduced to 10 credit hours during the transitional period and will return to 15 credit hours following the transition.
ILScorp has the online courses you need to complete your hours. Choose from individual accredited courses, or purchase a six-month subscription to our general insurance catalogue or Life/ A&S course catalogue, for unlimited access to all accredited courses. Choose from a variety of topics and complete your hours on your schedule, anywhere you have an internet connection.
Visit ILScorp.com and get started today!
Jan 14, 2014 | News
Deadlines have been extended to complete mandatory continuing education hours for Life and A&S agents in Alberta and for ChAD requirements in Quebec.
Alberta agents: you now have until June 30 to complete your continuing education classes. With ILScorp you can complete your CE courses for Life and Accident Sickness agents on your own schedule – anytime, anywhere you have an internet connection.
Our Life / A&S course catalogue includes more than 75 CE courses (185 hours), so you’ll find courses that are of interest and relevance to you and your business. A new online Professional Liability course: Introduction to Errors and Omissions Exposures Insurance for Life / A&S Agents, which is also included in the subscription option.
Individual Courses start at $85. Six month subscriptions to the entire Life/A&S CE course catalogue are $260.
Quebec Agents: if you have not completed your ChAD professional development units, your deadline has now been extended to March 31, 2014. Still working on your hours? ILScorp’s ChAD Subscription offers unlimited access to our accredited ChAD courses (over 100 credits!) for six months for only $185.
Are you not the only one with hours to complete? If your brokerage has more than five people who need to complete their training, consider joining our ChAD Broker Network Program, and save $50 per person on a ChAD Subscription!
Advantages of the ILS continuing education course subscriptions:
- Once you purchase your subscription, you can begin taking your courses immediately! If you are a new subscriber, you will receive an automated username and password by email.
- All material is viewed online. All you need is an internet connection!
- Courses can be accessed any time and you can log in and log out as many times as you wish during the course period.
- Quizzes and Final exams are offered in most of our courses to help you retain the information.
- Should you require any assistance at any time during your course work, we are here to support you 5 days a week, 0800 – 1700 PST.
Join the more than 22,000 Canadian insurance professionals who develop their skills with ILScorp each year! Visit ILScorp.com today to get started, or call 1-800-404-2211.
Jan 13, 2014 | News
The start of a new year brings new resolutions, goals and opportunities! We want to know what you want to learn in 2014, and give you the chance to win your choice of courses from ILScorp!
A number of entries are rolling in, and we’re excited to hear what you want to learn. From general ideas, to specific courses, agents across Canada know they can benefit from online insurance training from ILScorp.
Charlene S. tells us she wants to “learn more about claim outcomes and settlements,” while Cathy W. says she want to “learn more about Cyber Security, completing a Business Income Worksheet, differences in Environmental Liability and the old Garage Auto again – can never get enough learning on the Garage Policy!”
Elaine shared that she wants to “learn the information required to pass my Level 2 Alberta Licensing Exam and the Alberta Life/Accident and Sickness Exam in 2014.”
Debbie is excited to complete the ILS Introduction to General Insurance: “I work in a insurance office doing the motor vehicle and have attempted the fundamentals book as it was really difficult to understand. A few of my co-workers have completed the ILS course with great success, and the book was fun and easy to read. I would love to have the opportunity to complete it with this course. I am so motivated to try this!!”
Meanwhile Cathy P. says she want “to learn to more….. just more.”
What do you want to learn in 2014? Let us know on our Facebook page which skills or subjects you’d most like to learn this year by filling in the blank: I want to learn ___________________ in 2014.
Whether you’re ready to begin your career in insurance, looking to upgrade your license, increase knowledge in specific areas of insurance, or learn business skills including time management and leadership, ILScorp has online courses to help you improve your professional life. Regardless of your goals, you’ll find online insurance training to suit your needs.
Share your answer on our Facebook page by January 24, 2014, and you could win the chance to “learn more and earn more” with ILS. To help you achieve your 2014 learning goals, we’ll select contest five winners from these comments, who will receive up $500 worth of ILScorp online courses. Enter today!
Winners receive an ILScorp subscription or ILScorp course valued up to $500. All prizes must be redeemed by May 1, 2014.
* No cash value. Does not apply to previous purchases. Is not transferable to another person.
