Canadian Underwriter

Topic Personal Auto

Concept of inflation and economics
News ClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsPersonal AutoSupply Chain

How claims inflation is affecting Definity’s auto, property lines

November 22, 2022 by Jason Contant

Claims inflation in Definity Financial Corporation’s auto and property lines appears to be stable, Definity president and CEO Rowan Saunders said during a recent virtual fireside chat with RBC Capital Markets. While inflation is at elevated levels, it’s starting to

sea coast houses bracing for a hurricane
News BrokersCatastrophesClaimsClaims ProfessionalsCommercialCommercial AutoConstructionEnvironmentalInsurersLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal AutoPersonal HomePropertyQuebec

How hurricane losses will impact pricing and capacity

November 21, 2022 by Philip Porado

Watch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”

Cra in driveway covered with snow
News InsurersLegalOntarioPersonal Auto

Walking towards your car, you slip and fall on ice. Is this an ‘auto accident’?

November 18, 2022 by David Gambrill

If you slip and fall on ice within 10-15 feet of your car, the car did not cause your fall, so that isn’t an ‘auto accident’ under the Statutory Accident Benefits Schedule (SABS), Ontario’s Licence Appeal Tribunal (LAT) ruled last

A red car has slid on the icy road and his into the freeway medium. A moderate traffic jam with two other white cars has occured
News AlbertaB.C.BrokersClaimsCommercial AutoInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.Personal AutoQuebecSaskatchewanYukon

Will inflation stop Canadians from buying winter tires?

November 17, 2022 by Alyssa DiSabatino

Even when faced with the rising cost of living, 82% of Canada’s motorists believe investing in winter tires is important, said a new survey by the Tire and Rubber Association of Canada (TRAC).  However, brokers will be interested to know

Car thief shining flashlight into the interior of a car
News ClaimsEmerging RisksInsurersLegalPersonal Auto

Canada’s top-10 stolen cars

November 15, 2022 by David Gambrill

If there’s one supply chain Canada’s insurers would like to see disrupted, it’s the national, $1 billion business of auto theft rings supplying clients, unscrupulous dealers and chop shops with cars and auto parts. Of the $1 billion auto theft

Woman using a mobile phone while charging an electric car
News EnvironmentalPersonal AutoSupply Chain

Delays for new hybrid, electric cars reach years – not months – amid supply crunch

November 14, 2022 by Brett Bundale - THE CANADIAN PRESS

When Jesse Chiasson called a car dealership last month to buy a new vehicle, he ended up paying $1,000 to be put on a waitlist instead. “The salesman was pretty vague but hinted it could be 2024 by the time

Shopping cart representing selling a business
News BrokersCommercialCommercial AutoConstructionCyberHRLegalManagementMergers and AqcuisitionsOperationsPersonal AutoPersonal HomePropertyTrusted Advisor

Three options for selling your brokerage

November 11, 2022 by Philip Porado

A consistent stream of property and casualty brokerage acquisition announcements over the past few years likely has a lot of brokerage owners thinking about how they’ll eventually exit the business. For most sales transactions, there are three basic options. One

Toy cars crashing next to a pile of coins
News ClaimsInsurersPersonal AutoSupply Chain

How inflation will affect Intact’s auto rates going forward

November 10, 2022 by David Gambrill

Intact is predicting a firming of its auto insurance rates in Canada, where brokers and consumers can expect the company to increase auto rates by percentages in the upper single digits by the end of 2022. In its personal lines

Celyeste Power is the new CEO of IBC
News CommercialCommercial AutoHROperationsPersonal AutoPersonal HomePropertyTrusted Advisor

IBC announces new president and CEO

November 10, 2022 by Canadian Underwriter Staff

Celyeste Power will succeed retiring Insurance Bureau of Canada (IBC) president and CEO Don Forgeron at the end of 2022. Power, who takes over as president and CEO on January 1, 2023, is currently executive vice-president for strategic initiatives and

A man holding a pen sits in front of a clipboard with an insurance policy and three toy cars lined up atop it.
News BrokersCommercial AutoInsurersLegalManitobaPersonal Auto

Insurer ordered to plan for switch to primary driver model

November 9, 2022 by Alyssa DiSabatino

Manitoba Public Insurance (MPI) must now develop a five-year plan to switch from its registered driver model to a primary driver model for auto insurance pricing — after previously stating such a switch would create large rate dislocation and require

Blurred clock image
News AlbertaInsurersLegalPersonal Auto

Insurers can’t ask for leniency on time limits, but then enforce them on claimants

November 9, 2022 by David Gambrill

An insurer involved in settlement negotiations can’t ask a claimant for leniency on time limits, but then demand the claimant adhere to strict limitation periods for serving a statement of claim, an Alberta court has ruled. The court thus granted

Concept of business acquisition
News AlbertaBrokersCommercialMergers and AqcuisitionsOntarioPersonal AutoPersonal Home

BrokerLink starts the month with 3 new M&A deals

November 8, 2022 by Jason Contant

BrokerLink continues to expand in Ontario and Alberta with the acquisition of three more brokerages in those provinces. The Intact Financial Corporation subsidiary acquired D.G. Smith Insurance Brokers and Teck Insurance Brokers Limited (both Ontario-based) and Robinson Insurance Centre of