As 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,…
Hard market conditions in personal lines across Canada are not slowing down in 2023 Q3, according to data from tech vendor Applied Systems. Auto and homeowner premiums are rising year-over-year in all provinces. In 2023 Q3, personal auto premiums in…
Ontario’s financial services regulator has fined an auto body shop $75,000 and one of its employees at the time $15,000 in connection with fraudulent business practices. The Financial Services Regulatory Authority of Ontario (FSRA) imposed a compliance order and administrative…
Canada’s P&C insurance industry is doing its part to combat auto theft, but more support is needed from car manufacturers and governments to prevent this trend from worsening, Celyeste Power, president & CEO of the Insurance Bureau of Canada (IBC),…
Canada saw an overall “modest decline” of 3.5% in personal auto insurance premiums last year, AM Best reported during an industry event in Toronto earlier this month. Lower profit margins in Canadian auto insurance are likely to remain under pressure…
Drivers used to get a reminder in the mail that their license or plate renewal is approaching. But in 2022, the Ontario government stopped mailing out physical notices for expiring licenses. Some drivers didn’t get the memo. Mitch Insurance is…
Fresh from completing three mergers this month, Navacord president and CEO Shawn DeSantis tells Canadian Underwriter the company is working to expand its geographic presence and build national scale. In British Columbia, Navacord announced its latest deal with Harbord Insurance…
BrokerLink has completed its largest acquisition to date in Alberta with the purchase of Alpine Insurance Inc., the brokerage announced Wednesday. The brokerage also acquired Ontario-based Eagen Insurance Brokers Inc. Both deals were effective Oct. 1. “Alpine Insurance marks BrokerLink’s…
Westland has expanded in Ontario with the acquisition of family-owned brokerage David H. Coons Insurance Brokers Ltd. With roots tracing back to 1966, David H. Coons Insurance offers home, auto, commercial and travel insurance from its Burlington, Ont. office. The…
Auto theft costs in 2023 are projecting to break record levels established in 2022, P&C insurance professionals are warning. A recent survey by Équité Association shows auto theft in Ontario increased by 31% year-over-year in the first half of 2023.…
Ontario’s insurance regulator has confirmed it is considering whether or not aggregators need to be licensed. Since August, when Ontario’s financial services regulator issued a report outlining concerns about auto insurers’ compliance with take-all-comers requirements, Canada’s P&C insurance industry has…
Self-driving cars have been a part of visions of the future for decades, and what was once only imaginary has started to become reality. Not only do self-driving cars exist, but five U.S. states (Arizona, California, Michigan, New Hampshire and…