Topic
Legislation / Regulation
The place where insurers are seeking double-digit auto rate increases
September 10, 2019 by Greg MeckbachAuto insurers asking for double-digit increases from New Brunswick’s regulator could face some hard questions during hearings this fall. “Some of the companies have been asking for a big increase” and will not necessarily be approved for the increases they…
Where Intact will stop insuring dune buggies and some snowmobiles
September 9, 2019 by Greg MeckbachClients with dune buggies or with snowmobiles that carry more than two people will no longer be able to get those vehicles insured by Intact starting next year in Nova Scotia. Intact considers dune buggies as “too risky,” wrote Jennifer…
Tesla Autopilot let driver rely too much on automation: Investigator
September 4, 2019 Tom Krisher - THE ASSOCIATED PRESSDETROIT – A government investigation has found that a design flaw in Tesla’s Autopilot semi-autonomous driving system and driver inattention combined to cause a Model S electric car to slam into a firetruck parked along a California freeway. The National…
What the industry can do to get out of the hard market cycle
August 30, 2019 by Adam MalikAlthough regulation is one significant factor in the current hardening market conditions, that doesn’t mean the insurance industry should cry “woe is me” and wait for things to get better on their own. Instead, a pro-active approach is needed, experts…
New policies set for ride-hailing services in B.C.
August 22, 2019 The Canadian PressVICTORIA – New policies for ride-hailing services in British Columbia will allow companies such as Uber and Lyft to operate a limitless number of vehicles beyond geographical boundaries that are in place for the taxi industry. Chair Catherine Read of…
These auto clients will no longer get a break for driving experience
August 21, 2019 by Greg MeckbachFor motorists whose driving experience is in a country other than Canada and the United States, one major insurer’s underwriting rules are about to change in one province. Nova Scotia’s auto insurance regulator recently gave The Personal Insurance Company permission…
Digital pink cards get green light in third province
August 13, 2019 by Adam MalikA third Canadian province has been given the go-ahead for electronic proof of insurance for drivers. The Alberta government gave the OK for drivers to show their pink cards in a digital format through their smartphone this week, following the…
Top court releases decision in $2-billion building collapse lawsuit against Loblaws
August 8, 2019 by Greg MeckbachA $2-billion lawsuit against Loblaws Companies Ltd., arising from the world’s deadliest accidental building collapse ever, is essentially tossed out of court. Canada’s high court announced Thursday it will not hear an appeal from Arati Rani Das, a garment factory…
Which province will allow digital pink cards next?
August 6, 2019 by Adam MalikIf George Hodgson’s crystal ball is working as well as he hopes, it may not be too long until Alberta drivers will be able to use digital insurance pink cards. The chief executive officer of the Insurance Brokers Association of…
What could carriers do if auto regs are loosened?
August 6, 2019 by Adam MalikHigh loss ratios are creating a cascading series of negative effects and its time to do something about it, says one insurance professional. One way is to loosen the tight grip of regulation around auto insurance, said Justin Thouin, co-founder…
Second provincial regulator approves electronic pink slips
July 30, 2019 by Jason ContantNewfoundland and Labrador has become the second jurisdiction in Canada to approve the use of electronic proof of auto insurance (EPAI) for drivers in the province. The Superintendent of Insurance of Newfoundland and Labrador, Renee Dyer, announced the decision in…
Top 2 priorities for Canadian commercial insurers
July 23, 2019 by David GambrillTwo major issues facing personal lines insurers – auto and climate change – are similarly vexing commercial insurers, says Insurance Bureau of Canada (IBC)’s new board chair, Silvy Wright. And working with Canadian insurance regulators will be key to responding…