Segment
Consumers
What brokers say about Ontario DCPD opt-outs
April 18, 2024 Alyssa Di SabatinoOntario brokers tell us their phones aren’t ringing off the hook with calls from drivers wanting to take advantage of the province’s new option to decline direct compensation- property damage (DCPD) coverage on their auto policies. “I actually thought that…
How cloud services can speed up the P&C industry
April 12, 2024 by Jason ContantCloud-based services can serve as a much-needed speed accelerator to the Canadian P&C insurance industry, eliminating friction and digitizing the customer experience, speakers said Thursday at the 2024 CIP Society Symposium in downtown Toronto. “I personally think the biggest threat…
Hurricane season’s on the horizon — are we ready?
April 9, 2024 Philip PoradoIt won’t be long before June arrives, bringing with it the 2024 hurricane season. That might be a problem for Canada’s adjusters and insurers given many are still managing residual claims from Hurricane Fiona’s 2022 battering of the East coast.…
Are optional auto benefits a good choice for your clients?
April 5, 2024 by Jason ContantOntario’s recent 2024 budget proposes expanded choice for auto insurance consumers by offering more optional accident benefit coverages, but that may wind up being a zero-sum game that sends clients down a slippery slope, suggests Adam Mitchell, CEO of Ontario…
What the P&C industry thinks of Ontario’s 2024 budget
March 27, 2024 by Jason ContantProposed 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…
Partnership combines auto insurance, used car warranty products
March 20, 2024 by Jason ContantOnline insurance comparison platform HelloSafe has announced a strategic partnership with GuardTree Inc., which calls itself Canada’s first monthly subscription-based used car warranty product. The partnership allows Ontario drivers to compare a wide range of auto insurance guarantee options through…
Do gig-driver clients have the right auto coverage?
March 11, 2024 Philip PoradoWith accident claims up sharply post-pandemic, transportation network companies (TNCs) like Uber, Lyft and others are aggressively managing the insurance coverage they offer to gig drivers to ensure they have a handle on fraud. “You’re going to get some claims…
Staying on the right side of Quebec’s language law, Bill 96
March 7, 2024 David GambrillCanada’s property and casualty insurance industry is advised to establish a policy and train employees to comply with Bill 96, Quebec’s French language law, which calls for all policy contracts with clients in the province to be done in French…
Quebec to offer ‘X’ gender option for health cards, driver’s licences
March 5, 2024 Morgan Lowrie – The Canadian PressQuebecers who do not identify as male or female will soon be able to opt for an ‘X’ gender marker on their health cards and driver’s licences. Both Quebec’s automobile insurance board and its public health insurance board confirmed Monday…
Why complex cars create costly problems
February 28, 2024 Philip PoradoAn acute shortage of semiconductors is a big contributor to rising auto claims costs for auto insurers. “That’s had a significant impact in certain types of cars,” says Paul Gilbody, president of ClaimsPro Canada. “A huge amount of electronics now…
Managing insurer concerns about knob-and-tube wiring
February 21, 2024 Brian Cook, PowerCheckMost insurers see homes with knob-and-tube wiring, aluminum wiring, and 60-amp service as high-risk, which prevents clients with those systems from easily obtaining home insurance. But are wiring types and service levels really the culprits causing fires? I’ve examined electrical…
‘Very pleasant surprise’: Canada’s inflation rate tumbled to 2.9% in January
February 20, 2024 Nojoud Al Mallees – The Canadian PressOTTAWA – Canada’s inflation rate fell more than expected last month as price growth moderated across the economy, including outright price declines for gasoline, airfares and clothing. Statistics Canada reported Tuesday the annual inflation rate tumbled to 2.9 per cent…