Alberta’s Automobile Insurance Rate Board (AIRB) has approved rate increases for more than 20 insurers in Q4 2019, ranging from less than 1% to nearly 30% for basic coverage for private passenger vehicles. The rate hike was about 10% on…
An insurer-based model for new home warranty was under consideration in Ontario but the current government is maintaining the status quo. “Our government has been looking at the feasibility of a private insurance model for new home warranties and protections…
How governments and the industry should broach the delicate topic of expropriation in areas at high risk of flood damage
Brokers with cannabis clients need to keep an eye on the changing legal landscape and cannabis companies’ evolving needs, paying particular attention to directors’ and officers’ liability, a managing general agency told Canadian Underwriter recently. Recreational cannabis became legal in…
Jason Storah, President, CEO, Aviva Canada I find it quite interesting, intriguing and frustrating that auto insurance is so complex in this country. Why is an auto accident treated differently in Quebec, Ontario, B.C., or Alberta? It doesn’t make sense,…
Carol Jardine, President, Canadian P&C Operations, The Wawanesa Mutual Insurance Company One of the most important issues facing the industry is the Canadian consumer’s pocketbook. Canadian families have never been more in debt and GDP and wage growth aren’t helping.…
Sugar plums are likely dancing in the heads of at least some Ontario auto underwriters as a result of a series of developments over the past year. When the government released its budget this past April, it included a bunch…
More than half a million Ontarians receive some form of government disability support and an advocate for claimants suggests many of these are caused by motor vehicle accident injuries. “At the end of the day, unpaid claimants don’t just go…
A Toronto man who told Canadian Underwriter he recommended direct writer Sonnet to some of his friends is denying allegations made by the Ontario insurance market conduct regulator that he actually solicited auto insurance through Sonnet. “I am not soliciting…
As open banking makes it easier for other players to access your clients’ financial data, now is the time for insurance professionals start thinking about how they can take advantage of this new model, an actuary advises. “A number of…
Are Ontario municipalities another victim of the hardening market? “A lot of municipalities are facing increased premiums or difficulty with obtaining insurance,” said Pino Cianfarani, partner at Lerners LLP, speaking at Insurance Bureau of Canada’s (IBC) Commercial Insurance Symposium Nov.…
Could commercial auto risk be reduced if training was mandatory for drivers of dump trucks, buses and 20-foot cube vans? It’s a question Ontario’s transportation ministry is looking at, the province announced in its recent auditor general’s report. Formal training…