Topic Commercial Auto
The future of auto claims if everyone keeps working from home
February 23, 2021 by David GambrillAuto insurers will be watching very carefully to see how future working-from-home arrangements will affect downtown traffic patterns — and hence, auto insurance claims — during the post-pandemic era, says an RSA Canada claims executive. Government lockdowns to avoid the…
Canada’s hardest-hit commercial lines — and a reason for optimism
February 18, 2021 by David GambrillCommercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report…
Brokerage executives to examine COVID impact today and beyond
February 8, 2021 by Adam MalikBrokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as…
Something new to tell drivers to help stop distracted driving
February 4, 2021 by Adam MalikMessaging around distracted driving hasn’t worked, so it’s time to come up with a new strategy to reduce driving risk, a panellist on a recent webinar suggested. Instead of saying how bad it is to be distracted, insurers and governments…
Unintended M&A consequence: A shrinking carrier residual market
February 3, 2021 by Adam MalikThe number of carriers supporting Canada’s residual market for high-risk auto insureds is shrinking thanks to a combination of player withdrawal and mergers and acquisition activity. Tackling this issue is one of a number of priorities for the Facility Association…
Support in Canadian P&C industry for U.K. approach to insuring automated cars
January 29, 2021 by David GambrillInsurance programs for connected and autonomous vehicles (CAV) in the United Kingdom may be applicable to Canada as well, according to a recent survey from Canada’s association of provincial insurance regulators. In the U.K., the Automated and Electrical Vehicles Act…
P&C industry needs better data about distracted driving
January 28, 2021 by Adam MalikThere’s a fairly significant gap between what government agencies have to say about distracted driving and what data companies are able to capture, and that is playing a role in the ineffective portrayal and messaging around the seriousness of people…
Smartphones are problems, but here’s how they can help reduce driving risk
January 22, 2021 by Adam MalikThis could be the year telematics driving data actually provides meaningful information — and change — to insurers and drivers alike, allowing risk to be underwritten more accurately, experts predict. To pull that off, smartphones will be a critical tool…
What’s missing from driverless vehicle rollout plan
January 19, 2021 by Greg MeckbachDriverless vehicles need to have some way of communicating with police, fire and ambulance responders, an auto manufacturers’ group said in a recent report. First responders have ways of handling situations they encounter in traffic but there are no “common…
Opinion: Why you should pursue subrogation more often
January 7, 2021 by Wilfred Tioh, SIAdvisers Consulting & SolutionsThe most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party…
RSA exec maps out the long haul towards better trucking rates
December 17, 2020 by David GambrillIf you’re a commercial insurance broker or client looking for the end of high premiums for trucking fleets, insurers would like to hear from you about how to resolve a major systemic issue facing the trucking industry. “I would say…
This customized vehicle replacement coverage is headed for the junk yard
December 8, 2020 by Greg MeckbachThis is no April Fool’s joke. TD Insurance Group plans to stop offering its non-standard five-year vehicle replacement coverage in Nova Scotia as of Apr. 1, 2021. In 2019, the Nova Scotia Utility Review Board approved TD’s application to offer…