Topic Commercial Auto
Why ridesharing makes motor vehicle accident claims more complex
June 21, 2021 by Greg MeckbachInspecting the accident scene early and downloading black box data are among the tactics insurance lawyers use to defend ride share tort claims, lawyers suggested to A.M. Best Company Inc. “Rideshare cases often involve multiple parties and different causes of…
The future clients want to see in auto claims processing
June 21, 2021 by Adam MalikAfter an initial surge, the number of clients taking advantage of virtual claims processing has dipped. For insurers, now is a critical time to evaluate their processes and figure out how to properly provide a touchless experience, says a recent…
Hub makes back-to-back acquisitions of Canadian brokerages
June 4, 2021 by Jason ContantHub International has made its second brokerage acquisition in two days with the purchase of a family-owned firm in Nova Scotia. Hub announced on Friday that it had acquired Sackville, N.S.-based Salvatore Insurance Brokers Ltd., which provides commercial insurance to…
In a virtual world, don’t lose your humanity: insurer exec
June 1, 2021 by Adam MalikAs the world gets more and more virtual, don’t forget how to be human, an insurer executive urged during a recent webinar. Technology should be used to enhance the industry’s relationship with clients, rather than act as a replacement, explained…
How IBC proposes fighting insurance fraud in the trucking sector
May 31, 2021 by Jason ContantProvincial governments should implement a database to verify the validity of a trucking carrier’s insurance as one way of helping to identify fraud in the sector, Insurance Bureau of Canada (IBC) is recommending. At the time of policy renewals, insurers…
Insurers monitor battle within auto industry over car data ownership
May 30, 2021 by Adam MalikThe outcome of a current standoff between auto manufacturers and the automotive aftermarket industry over who owns the data generated by automated cars will have implications for the insurance industry, according to an insurance executive. “If the data is owned…
A cybercriminal hijacks an autonomous vehicle. Who’s responsible for a crash?
May 12, 2021 by Adam MalikVehicle manufacturers are likely going to be on the hook for damages following autonomous car crashes in which no human being is controlling the vehicle, a cyber insurance specialist says. “Certainly, one of the more dramatic ways of thinking about…
Brokers cut insurers some slack during the pandemic
May 11, 2021 by David GambrillBrokers appear to be cutting their insurer partners a bit of slack during the pandemic, with more brokers agreeing this year that insurers are striking a fair balance between the interests of carriers and brokers. Over the past three years,…
In the hard market, are you selling on price or coverage?
May 11, 2021 by David GambrillPrice point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across…
NDP motion calls for Ontario truck insurance relief
April 30, 2021 by John G. SmithOntario NDP MPP Guy Bourgouin (Mushkegowuk-James Bay) has officially introduced a motion calling on the provincial government to tackle rising insurance costs faced by owner-operators. “Today is a victory for all the truckers in northern Ontario and across the province…
How far telematics can reach in assessing risk
April 26, 2021 by Jason ContantThe use of telematics is expanding beyond traditional vehicles and tracking methods to increasingly focus on contextual risk, a speaker said Friday at the InsurTech North virtual conference. Traditional telematics devices measure driving behaviours such as speed, time of day…
Video-based telematics? Car subscription services? The future of auto insurance is already here
April 23, 2021 by Jason ContantIncreased use of video-based telematics in the commercial fleet space, as well as the evolution of car subscription services, are just two ways in which the Canadian insurance market could change over the next few years. Panellists discussed their predictions…