Canadian Underwriter

Topic Personal Auto

Car thief in action late at night, wearing a black mask on his head
News ClaimsInsurersNova ScotiaPersonal Auto

Insurer introduces new auto rating variable for oft-stolen cars

July 20, 2023 by David Gambrill

With Canada’s property and casualty industry facing a record number of auto theft claims, insurers have introduced a variety of incentives and disincentives to encourage drivers to take theft-prevention measures — and now it’s showing up in a new ‘High

cay keys on top of an auto insurance policy
News AlbertaClaimsCommercial AutoInsurersPersonal AutoTrending

Zenith Insurance ends broker contract; Alberta Finance Minister cites rate pause

July 20, 2023 by Alyssa DiSabatino

Editor’s Note: On Friday July 21, 2023, Canadian Underwriter sent out an e-newsletter with an incorrect subject heading, implying that Zenith pulled out of auto insurance in Alberta. In fact, Zenith has only cancelled a contract with a brokerage that

Connected puzzle pieces with acronym M&A
News AlbertaBrokersCommercialManagementManitobaMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal HomeSaskatchewan

M&A frenzy continues with multiple deals announced

July 19, 2023 by Jason Contant

Correction: The article has been amended to show Andrew Agencies has 22 locations, not 200 as previously reported. Canadian Underwriter apologizes for the error.    On the heels of separate deals that closed at the beginning of the month, large

News AlbertaBrokersCommercial AutoEmerging RisksInsurersPersonal Auto

Insurer backs away from Alberta auto — could others follow suit?

July 19, 2023 by Alyssa DiSabatino

Alberta’s auto insurance rate pause has caused one insurer to back away from the market, with others potentially following suit. The insurer is said to have a market share of less than 0.5% of auto policies in Alberta, a source

Tornado warning issued for Montreal
News CatastrophesClaimsEnvironmentalInsurersOntarioPersonal AutoPersonal HomeProperty

Montreal-Barrhaven storm declared a Cat

July 18, 2023 by Alyssa DiSabatino

The storm that hit Montreal on Thursday, downing trees and power lines and causing localized flooding, has been declared a catastrophe, Laura Twidle, president and CEO of Catastrophe Indices & Quantification Inc. (CatIQ) told Canadian Underwriter.  A ‘catastrophe’ is an

Car alarm and anti-theft device
News ClaimsClaims Canada ArchiveInsurersPersonal AutoTechnology

How Canadian P&C insurers are tackling record auto thefts

July 17, 2023 by Jason Contant

After the Canadian P&C insurance industry paid out a record $1 billion for auto theft in 2022, some insurers are tackling the issue by offering discounts for consumers installing a tracking system or applying surcharges for those who don’t equip

Blue Toy Car In Front Of Businessman calculating payments
News AlbertaPersonal Auto

New government commits to auto insurance reform

July 17, 2023 by David Gambrill

Alberta’s new UCP government has tasked its minister of finance, Nate Horner, to come up with options for auto insurance reform. Alberta Premier Danielle Smith sent a mandate letter to Horner dated July 13 instructing Horner to lead a review

Flowers poke through the softening snow in springtime
News BrokersClaimsCommercialCommercial AutoInsurersOperationsPersonal AutoPersonal Home

Will markets soften after 2022’s strong performance?

July 14, 2023 by Glenn McGillivray

For 2021, a year-in-review for the P&C industry began with the sunny news that it “was the most generally favourable for Canadian insurers in a long while.” But that same review ended with the suggestion that those rosy numbers may

Distracted driver about to have a car accident
News ClaimsClaims ProfessionalsCommercial AutoInsurersLegalLiabilityLoss ControlLoss TrendsPersonal AutoTechnology

What’s to blame for distracted driving trends?

July 14, 2023 by Philip Porado

Brokers hear lots of stories about minor fender-benders that don’t lead to injuries. And some could even be seen as amusing – if they weren’t linked to financial losses for insurers. “We had an incident where someone was trying to

turtle walking on chalkboard with drawing of an increasing line graph
News BrokersCommercialCommercial AutoConstructionInsurersPersonal AutoPersonal Home

By how much premiums increased in the first quarter

July 14, 2023 by Alyssa DiSabatino

While consumers might have noticed their insurance rates are still increasing, prices are flattening out compared to last year’s single- or double-digit increases, two new reports from Applied Systems showed.  Commercial lines saw an overall rate increase of 7.39% in

M&A concept
News AlbertaBrokersCommercialMergers and AqcuisitionsNew BrunswickOntarioPersonal AutoPersonal Home

Large Canadian brokerages announce latest M&A deals

July 13, 2023 by Jason Contant

Canadian P&C brokerage merger and acquisition activity continues to burn red-hot in the second half of 2023, with large brokerages BrokerLink and Acera Insurance announcing a combined three deals recently. BrokerLink acquired Ontario-based Donnell Insurance Brokers Ltd. and New Brunswick-based

A helicopter carrying water flies over heavy smoke from an out-of-control fire in a suburban community outside of Halifax.
News CatastrophesClaimsCommercialEnvironmentalInsurersPersonal AutoPersonal Home

How much Intact paid in second quarter Cat losses

July 13, 2023 by Alyssa DiSabatino

Intact Financial Corporation saw an estimated $335 million in catastrophe losses in Canada for the second quarter of 2023, the insurer revealed in a release.  Comparatively, the company handled over a million claims and paid out over $10 billion globally in