Topic Commercial Auto
Electric truck/bus maker cuts jobs
November 27, 2023 by THE CANADIAN PRESSMONTREAL – The Lion Electric Co. says it is cutting 150 jobs or about 10% of its total workforce in a move to reduce costs and improve its ability to reach its profitability objectives. Lion Electric chief executive and founder…
How auto insurers responded to Ontario’s auto fraud announcement
November 24, 2023 by David GambrillOntario auto insurers are commending the provincial government for committing $18 million over three years to help police services combat and prevent auto theft. “Last year marked the first time in history when Canada’s insurers paid over $1 billion in claims…
IBC calls for feds to lead national auto theft task force
November 20, 2023 by Alyssa DiSabatinoCanada’s auto insurers say the country needs a National Task Force on Stolen Vehicles, and they are calling on the federal government to play a leadership role in tackling record-high auto thefts. While the feds should lead the charge, auto…
The Top 10 stolen cars in Canada
November 14, 2023 by Alyssa DiSabatinoFor the second year in a row, the Honda CR-V was the most stolen vehicle in Canada, according to Équité Association. The auto insurance fraud prevention organization today announced its Top 10 Most Stolen Vehicles in Canada, which now includes…
11 people sent to hospital after school bus crashes into B.C. home
November 10, 2023 by The Canadian PressBURNABY, B.C. – Adrian Striga says that if he had slept in Thursday morning, it could have cost him his life. Instead, the carpenter was at work when a private school bus crashed through the window of his Burnaby apartment…
How Intact’s third quarter results shaped up
November 9, 2023 by Alyssa DiSabatinoIntact saw premium growth in 2023 Q3, but its profitability took a hit because of inflation and the Canadian wildfires, the company reported. Intact saw single-digit premium growth in its personal and commercial lines in 2023 Q3, and predicts this…
Does your client know their car is at a high risk for theft?
November 7, 2023 by Alyssa DiSabatinoCanada’s P&C insurance industry is urging drivers to lower their own risk while it contends with high auto theft losses across the country. The problem is, 40% of drivers don’t know if they’re driving a high-risk vehicle, according to a…
Industry responds to Alberta rate cap extension
November 3, 2023 by Alyssa DiSabatinoAlberta’s promise to cap auto insurance rate increases for “good drivers” in the province will not help consumers achieve affordability and only put further financial strain on auto insurers, property and casualty insurance industry experts warn. Ultimately, it could lead…
Alberta UCP announces return of the auto rate cap
November 2, 2023 by Alyssa DiSabatinoAlberta’s United Conservative Party (UCP) is committed to retaining auto rate caps for “good drivers” into 2024, which auto insurers say would amount to keeping the auto rate cap on 80% of the province’s drivers. The province’s proposed auto…
What’s driving rising ransomware attacks
October 30, 2023 by Philip PoradoRansomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their…
How Northbridge beat the taxman
October 26, 2023 by David GambrillNorthbridge is allowed to claim GST input tax credits for insurance policies it issued to trucking companies operating in both Canada and the United States, the Federal Court of Appeal has ruled. The decision overturned a Tax Court of Canada…
Why auto insurance concerns might hinder electric vehicle adoption
October 26, 2023 by Alyssa DiSabatinoAs governments gear up for a national push toward electric vehicles (EVs), Canadians are harbouring anxieties about their auto insurance policies. Seventy eight per cent of Canadians are concerned about the cost of their insurance premiums on an electric vehicle,…