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Ontario auto rates up 0.76% in Q2: FSCO

July 20, 2017 by Canadian Underwriter

Approved rate increases for auto insurance in Ontario were an average of 0.76% in the second quarter of 2017 for insurers representing slightly more than half the market, the Financial Services Commission of Ontario reported recently. FSCO said that for

News InsuranceLegislation / RegulationPersonal Lines

Revenues up $17 million for Manitoba Public Insurance

July 17, 2017 by Canadian Underwriter

Manitoba Public Insurance Corporation reported Friday its total earned revenues for the three months ending May 31 increased 3.7% year over year, while bodily injury claims were up $34.5 million year over year. MPI, a crown corporation with a monopoly

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Government of Newfoundland and Labrador conducting comprehensive review of auto insurance system

July 5, 2017 by Canadian Underwriter

The Government of Newfoundland and Labrador has announced the start of a comprehensive review of the auto insurance system in the province. Perry Trimper, Minister of Service NL, announced the review in a statement on Tuesday. As part of the

News InsuranceMarkets / CoveragesPersonal Lines

Canadians “greatly overestimate” their financial literacy skills, including those related to auto insurance: survey

June 27, 2017 by Canadian Underwriter

More than two-thirds (67%) of polled Canadians responded incorrectly when asked if an expensive car always costs more to insure that a cheaper car, according to a new survey on Canadians’ financial literacy. Commissioned by Toronto-based LowestRates.ca, which provides a

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Gore Mutual launches cyber and data breach product for Canadian small businesses

June 9, 2017 by Canadian Underwriter

Gore Mutual Insurance Company has announced a cyber and data response product for Canadian small businesses as well as a partnership with a global home automation company to provide flood sensors to select commercial and personal customers. Gore Mutual announced

News InsuranceLegalLegislation / RegulationMarkets / CoveragesPersonal Lines

Marijuana legalization raises legal issues related to property policies, liability coverage and auto insurance, ARC Group Canada event hears

June 5, 2017 Jason Contant, Online Editor

The impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In

News InsuranceMarkets / CoveragesPersonal LinesTechnology

Global market for usage-based insurance grew by 32% in 2016 to 14 million policies: PTOLEMUS

May 18, 2017 by Canadian Underwriter

The global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying

News InsurancePersonal Lines

Canadian auto insurance customer satisfaction climbs despite premium increases: J.D. Power study

May 15, 2017 by Canadian Underwriter

Customer satisfaction with auto insurance in Canada has increased for the second consecutive year despite nationwide premium increases, according to the newly released J.D. Power 2017 Canadian Auto Insurance Satisfaction Study. The study, released on Monday, found that across all

News InsuranceMarkets / CoveragesPersonal Lines

Aviva Canada partners with Tennis Canada for home and auto insurance program

May 15, 2017 by Canadian Underwriter

Aviva Canada Inc. announced on Monday that it launching a new “tennis-focused brand experience for home and auto insurance through an extended partnership” with Tennis Canada. The Tennis Canada Home and Auto insurance program for both fans and players alike

News InsuranceMarkets / CoveragesPersonal Lines

Q1 claims and claims expense ratio improved 5.6 points for Allstate

May 10, 2017 by Canadian Underwriter

For the second year in a row, hail in Texas in March has cost The Allstate Corp. millions of dollars in claims and claims expenses. Northbrook, Ill.-based Allstate released May 2 its financial results for the first three months of

News InsuranceLegislation / RegulationMarkets / Coverages

‘No active deals on the table’ to sell minority interest in SGI Canada

May 7, 2017 by Canadian Underwriter

Saskatchewan has a new law allowing for the sale of up to 49% of crown corporations, but the provincial government will continue to have a monopoly on compulsory auto insurance, a spokesperson for Saskatchewan Government Insurance told Canadian Underwriter Friday.

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Ontario brokers voice support for provincial commitment to electronic proof of insurance

April 28, 2017 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) has welcomed the provincial government’s budget pledge to give drivers the option of electronic proof of insurance, a move IBAO suggests will help make insurance more affordable for consumers. The advance is part