Proposed reforms to Ontario auto insurance will make life simpler for accident victims but could increase premiums and costs for insurers, says David Marshall, who’s served as senior advisor to the provincial government on auto insurance and pension funds. In…
Ontario’s provincial government is urging a federal and multi-jurisdictional approach to combat auto theft in Canada. In its 2023 Fall Economic Statement released Thursday, the government called for the Canada Border Services Agency, RCMP, Montreal and Halifax port authorities, as…
Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never…
Litigation costs stand out as a major contributor to premiums drivers pay in Alberta, according to a new report from accounting firm MNP. Legal costs in Alberta’s auto insurance system have risen 31% since 2018 and account for roughly 20%…
With Canada’s record-breaking fire season continuing to burn hot, firefighter availability and the country’s system of sharing resources is stretched thin. For Canada’s P&C insurance industry, the overall lack of firefighters is a concern, given the sheer number of fires…
After the Canadian P&C insurance industry paid out a record $1 billion for auto theft in 2022, some insurers are tackling the issue by offering discounts for consumers installing a tracking system or applying surcharges for those who don’t equip…
Two large wildfires burning in Halifax and Shelburne counties in Nova Scotia remain out of control, even as fire and additional living expenses (ALE) claims start to trickle in for insurers and adjusters. Some adjusters aren’t able to access the…
Saad Mered, CEO of Zurich Canada, and London Bradley, president and CEO of Allstate Insurance Company of Canada, are the two latest additions to Insurance Bureau of Canada (IBC)’s board of directors. “The collective expertise and vision of IBC’s board…
Ontario’s broker association is glad to see auto insurance as well as enhancing Ontario’s emergency response remains on the provincial government’s agenda. In its 2023 Ontario Budget, the government said it will “continue to make progress on previous commitments, including…
Insurance Bureau of Canada (IBC) is applauding the federal government’s latest disaster assistance for flood recovery costs associated with British Columbia’s costliest severe weather event, but is stressing the urgent need for action on a national flood insurance program. The…
Ontario’s government will launch a ‘provincial exercise program’ to create, review and update new provincial emergency response plans and test whole-of-government emergency response, the province announced Friday. The provincial exercise program is part of Ontario’s first-ever Provincial Emergency Management Strategy…
EY Canada has issued a clarification to a report it conducted that B.C.’s public auto insurer says show the province’s auto insurance rates are among the lowest in Canada. Commissioned by the Insurance Corporation of British Columbia (ICBC), EY conducted…