Topic Commercial Auto
CU Poll: Ontario’s DCPD auto reform widely viewed as a flop
February 16, 2024 by David GambrillOntario’s property and casualty insurance professionals have widely panned the provincial government’s latest move to make mandatory Direct Collision Physical Damage (DCPD) coverage optional to reduce premiums. Canadian Underwriter conducted an online poll with more than 400 P&C professionals nationwide…
Making clients valuable to your brokerage for the long term
February 15, 2024 by Adam MitchellWhen it comes to ensuring clients have the right products and coverage levels, life insurance brokers are doing things much better than personal lines brokers. But there’s no reason the P&C industry can’t operate at that level. You can’t sell…
Hub’s latest Ontario brokerage acquisition
February 12, 2024 by Jason ContantHub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is one of the oldest and largest independently owned insurance brokerages in the Greater…
Alberta latest rate cap is underway: but what’s next for reform?
February 2, 2024 by Alyssa DiSabatinoAs Canada’s auto insurers await direction from the Alberta government on the province’s long-term reform solutions for auto insurance, industry advocates have suggested short-term options to the auto product. The Alberta government announced last fall it would be retaining the auto…
How one brokerage is making good risks out of its urban taxi clients
January 31, 2024 by Alyssa DiSabatinoWith its taxi clients left in the lurch from insurer market withdrawals, one regional brokerage ventured to improve taxi fleet safety. After conducting research and leveraging data, CMB Insurance Brokers developed a loss program using telematics to ensure its clients…
How auto theft will affect insurance in 2024
January 30, 2024 by Alyssa DiSabatinoAlthough the industry is trying to pump the brakes on auto theft across Canada, the national crisis is bound to get worse before it gets better, industry sources predict. It means higher premiums for consumers who are already feeling…
Editorial | Public order laws and auto insurance don’t mix
January 29, 2024 by David GambrillAnyone seeking clarity on how the federal government’s Emergencies Act was supposed to apply to auto insurance cancellations won’t find it in the Federal Court of Canada’s latest ruling. The Federal Court of Canada last Tuesday found the federal government’s…
Length of rental for auto collisions down slightly
January 25, 2024 by Alyssa DiSabatinoAuto insurers and their customers will be relieved to know the average length of vehicle rentals for collision-related claims across Canada has decreased, albeit gradually, from the same time last year, according to new data. The overall length of…
Feds heed auto insurers’ call for auto theft summit
January 24, 2024 by David GambrillCanada’s federal government has answered the call by the nation’s auto insurers to promote a whole-of-society solution to a mounting auto theft crisis. A National Summit on Combatting Auto Theft will take place in Ottawa on Feb. 8, 2024, Public…
How reconstruction companies are improving repair timelines
January 22, 2024 by Alyssa Di SabatinoA shortage of tradespeople isn’t making it easy for the restoration industry to recover from extended repair cycle times during the pandemic. While cycle times are starting to improve, frequent NatCats and a lack of qualified talent are stretching capacity…
How Ontario drivers have responded to DCPD opt-out option
January 22, 2024 by Alyssa DiSabatinoFor all the discussion it provoked within brokerage circles, one of the Ontario government’s ideas for auto insurance reform appears to have fallen flat with drivers, albeit it’s only in the first month of the initiative. Thus far, Ontario brokerages…
The rise and fall of the P&C industry’s financial results
January 22, 2024 by David GambrillAs the Alan Parson Project once sang, “What goes up, must come down,” and predictions about industry profitability made two years ago are unfortunately coming true — including a marked downward trend of financial results in 2023, says one veteran…