Canadian Underwriter

Topic Commercial Auto

Papers headed with Tax Liability and glasses on a table
News Commercial AutoConstructionCyberLegalLoss ControlOperationsPersonal AutoPersonal HomeProperty

Does federal budget create new tax liability for P&C industry?

April 12, 2022 by Greg Meckbach

A federal budget proposal to forbid insurers from using a contractual service margin as a deductible reserve for tax purposes could impose a one-time tax liability on the industry. International Financial Reporting Standard 17 (IFRS 17) will “substantially change the

Driver driving a car on asphalt road in summer day at park. Woman at steering wheel with smartphone in her hand.
News AlbertaClaimsCommercial AutoInsurersPersonal AutoQuebec

More than eight in 10 Canadians admit they drive distracted

April 11, 2022 by Alyssa DiSabatino

Eighty-three per cent of Canadian drivers engage in at least one distracted driving behaviour, and this has only increased in the past year, finds a recent survey. But distracted driving doesn’t come without its costs.   Non-digital distractions lead the

Toronto Urban Summer Traffic
News ClaimsCommercial AutoInsurersLoss TrendsPersonal Auto

How auto could be the force that eats into Canadian insurers’ results

April 8, 2022 by David Gambrill

With ROE levels in the Canadian P&C industry at a historic high of 17%, count Lloyds Canada among the list of insurance providers that caution the industry not to squander the hard-won gains of the hard market in a bid

Highway with speeding traffic at sunset.
News Commercial AutoLoss TrendsOntarioPersonal AutoProperty

Will faster highway speeds lead to more claims?

April 7, 2022 by Philip Porado and Alyssa DiSabatino

Starting Apr. 22, Ontario drivers will be able to take six sections of highway, primarily in the southern part of the province, at 110 km/h. Highway segments where speeds will permanently rise from 100 km/h to 110 km/h are: Queen

Data moving across a company
News CommercialCommercial AutoInsurersOperationsPersonal AutoPersonal HomeProperty

CSIO calls APIs for policy inquiries ‘foundational’

April 4, 2022 by Canadian Underwriter Staff

Recent publication of API standards for policy inquiries for personal auto, habitational, individually rated commercial automobile (IRCA) and commercial general liability (CGL) are the foundational use cases to begin improving carrier and broker connectivity communications. “These 24 policy inquiry use

A row of cars in the evening on a busy road, their brake lights are on.
News Commercial AutoEmerging RisksPersonal Auto

Post-pandemic trends in auto insurance

April 4, 2022 by Alyssa DiSabatino

While it may be too early to tell how the end of provincial COVID-19 restrictions are influencing auto insurance claims, industry experts are bracing for higher claims severity, a return to pre-pandemic levels of traffic, higher auto rates due to

A person holds a blue toy car in their right hand and a pen with their left. They are writing on a notepad. They are holding the car above columns of coins, increasing in height.
News BrokersCommercial AutoInsurersPersonal Auto

Why auto insurance premiums may be on the rise

April 1, 2022 by Alyssa DiSabatino

Inflation hit a multi-decade high of 5.7% this February. Industry observers warn this could go even higher before it goes lower, and the auto insurance industry is not immune to it.   How long will it be before drivers feel the

Toll stations on an elevated bridge between the US and Canada.
News CommercialCommercial AutoCyberLiabilityLoss ControlLoss TrendsRisk Managers

Supply chain concerns overshadow logistics data hacks

March 24, 2022 by Philip Porado

While the winter freedom convoy protests and bridge blockades highlighted Canada’s strained supply chains, insured business interruption events linked to logistics problems were common long before the pandemic. Insurers working with logistics clients note congested ports and a lack of

Picture of taxi row
News ClaimsCommercial AutoLoss TrendsNova Scotia

How to deal with loss trends in new DCPD auto insurance scheme

March 23, 2022 by Jason Contant

Nova Scotia Utility and Review Board (NSURB) has approved Facility Association’s (FA) overall rate increase of 11.1% as well as a proposed revision of its risk classification system for taxis. In doing so, the board had some words of advice

Digital documents being sorted.
News CommercialCommercial AutoInsurersTechnology

Commercial data standards get green light

March 18, 2022 by Canadian Underwriter Staff

Commercial insurance brokers are a step closer to having standards for policy inquiries on certain auto and general liability coverage. The Centre for Study of Insurance Operations (CSIO) said its Innovation and Emerging Technology (INNOTECH) API working groups have published

Private and commercial vehicles drive down a scenic highway. The high bridge at the Pennsylvania Turnpike on the sunny spring day. Lehigh Valley, Poconos region, Pennsylvania, USA.
News Commercial Auto

Inside Facility Association’s plan to harmonize commercial auto rates

March 14, 2022 by Alyssa DiSabatino

Facility Association will introduce a harmonized rating program for commercial and non-private passenger vehicles, which will help automate the rating process and put the brakes on truck operators trying to game the system, according to FA President and CEO Saskia

Red White and Blue Parked Trucks Lined up at a Truck Stop in the wintertime in Utah
News Commercial AutoInsurersLegalOntarioPersonal Auto

A CEO is injured while jogging. Does his personal or commercial auto benefits apply?

March 8, 2022 by David Gambrill

A company CEO who has both personal and commercial auto insurance is not considered to be a “deemed insured” under the commercial auto policy if he has never before driven a company vehicle – even if he had access to