Topic Personal Auto
Does Alberta’s auto insurance rate cap reward bad drivers?
April 25, 2024 by David GambrillAlberta’s new 3.7% cap on auto insurance rate increases for good drivers may wind up hurting the province’s well-mannered motorists more than it helps them, industry sources tell Canadian Underwriter. “Your carrier probably wants to reward you for [being a…
How clients’ auto data is being breached by thieves, hackers
April 24, 2024 by Alyssa DiSabatinoYour clients’ cars store a lot of their personal data — from biometrics to driving habits, phone contacts, and more — and that can expose them to cyber-attacks. Modern cars use sensors and connected technology to make driving easier, safer…
Better public education needed around territorial auto rates: industry
April 23, 2024 by Alyssa DiSabatinoInsurers and governments need to work closer together to better educate consumers on why auto insurers use territorial ratings, claims experts say. In addition, governments need to invest in better supports and infrastructure so vulnerable communities aren’t disproportionately impacted by…
Insurers to discuss ‘Plan B’ for federal earthquake insurance backstop
April 23, 2024 by David GambrillCanada’s property and casualty insurers are starting to discuss a ‘Plan B’ for an earthquake backstop, given the federal government’s slow progress on establishing a national flood insurance program. Insurance Bureau of Canada president and CEO Celyeste Power talked about…
What EV accidents mean for auto insurance pricing
April 23, 2024 by Philip PoradoFast-paced electric vehicle (EV) sales could sharply change the auto insurance pricing dynamic, says a new report from Morningstar DBRS. “More than 15 countries, including the United Kingdom, Japan, and Canada, have initiated climate policies mandating 100% zero-emission vehicle (ZEV)…
Why ICLR is heading West
April 19, 2024 by Philip PoradoAs part of a partnership with Wawanesa Insurance, the Institute for Catastrophic Loss Reduction (ICLR) will set up a new ICLR Climate Resilience Centre in Winnipeg. Wawanesa is providing office space and operating funds for the new centre. The centre…
Feds commit $15 million to flood insurance backstop. Is it enough?
April 18, 2024 by David GambrillAlthough the federal government committed to forge ahead with its long-awaited flood insurance backstop Tuesday, Canada’s property and casualty insurance industry notes the 2024 federal budget was light on details – and funding. The insurance industry has been negotiating with…
What brokers say about Ontario DCPD opt-outs
April 18, 2024 by Alyssa Di SabatinoOntario brokers tell us their phones aren’t ringing off the hook with calls from drivers wanting to take advantage of the province’s new option to decline direct compensation- property damage (DCPD) coverage on their auto policies. “I actually thought that…
Hybrid brokerage/agency rebrands following merger
April 18, 2024 by Jason ContantQuebec brokerages PMA Assurances and PMT ROY Assurances et services financiers have merged under the name Ellipse Agence en assurance de dommages inc., creating what the firm is calling the province’s largest damage insurance agency distributing Intact Insurance products exclusively.…
How auto theft is evolving
April 17, 2024 by Jason ContantFraudsters are adapting their methods in an attempt to fly under the claims radar, and even using artificial intelligence to create false documentation and platforms for claims handling, speakers tell the Insurance Institute’s 2024 CIP Society Symposium. Auto theft has…
Why an auto insured didn’t have to help with his insurer’s defence
April 15, 2024 by David GambrillAn Ontario court has set aside a judgement of almost $155,000 that an auto insurer obtained against its insured for not complying with a legal obligation to participate in the insurer’s defence. In this case, the insured was not driving…
Why LAT is reconsidering an accident benefits claim after an auto accident
April 12, 2024 by Alyssa DiSabatinoA decision in which a woman whose psychological trauma was triggered after she viewed the dashcam footage of an auto accident she was involved in — and spotted a house in the background where she’d lived and was the victim…