Topic Personal Auto
B.C. auto claimant wins dispute over ‘declared value’ in total loss
November 26, 2021 by Greg MeckbachThe Insurance Corporation of British Columbia has been ordered to pay an extra $5,000 to a client whose vehicle was badly damaged on a trip from California. In Link v. ICBC, released Nov. 25, the province’s civil resolution tribunal ruled…
Canada’s insurers could face higher costs from distracted driving
November 26, 2021 by Canadian Underwriter StaffCosts to Canadian insurance companies from accidents and injuries caused by distracted driving could reach $159 million by 2030, according to an analysis from financial products comparison site Hellosafe.ca. The analysis explored two scenarios, an optimistic 2% annual increase in…
More than half of polled Canadians keep their auto insurer for five years or longer
November 24, 2021 by Philip PoradoA whopping 84% of Canadians have stayed with their auto insurer for two or more years and 58% have remained with the same company for more than five years, according to a Ratehub survey. What’s more 23% said they’ve stayed…
Flooding reported in Cape Breton and western Newfoundland as storm stalls over region
November 24, 2021 by Michael MacDonald and Sarah Smellie - THE CANADIAN PRESSTorrential rain flooded basements and washed out roads and bridges in western Cape Breton and southwestern Newfoundland on Wednesday, as a huge storm spent a third day slowly trudging over Atlantic Canada. A state of emergency was declared late Tuesday in Cape…
’Tis the Season: How to explain motorcycle and snowmobile coverages to clients
November 23, 2021 by Brooke SmithYou may be getting a few calls about cancelling motorcycle insurance. Unlike automobiles, however, motorcycles (and snowmobiles) have seasonal insurance coverage that distributes payments for the riding season over the course of a year. But many riders don’t understand why…
How UBI could empower your client
November 19, 2021 by Jason ContantUsage-based insurance (UBI) empowers the customer and takes a lot of the complexity out of the insurance product, a speaker said Wednesday during KPMG’s 30th annual insurance conference. “Personally, I love the idea of usage-based insurance and telematics,” Celyeste Power, chief strategy officer…
Supreme Court of Canada rules against BC trial lawyers in disputed subrogated Ontario auto claim
November 18, 2021 by Greg MeckbachIf the Trial Lawyers Association of British Columbia had its way, auto insurers would have an incentive to go the “extra mile” in trying to find reasons to deny claims, two Supreme Court of Canada judges suggested in a decision…
How Ontario direct compensation-property damage affects temporary loaner vehicles
November 17, 2021 by Greg MeckbachAn Ontario insurer that wrote optional collision coverage for a client is not on the hook for damage to a loaner vehicle borrowed by that client while that client’s own vehicle was in for repair, a judge wrote in a…
What FSRA says about the ‘take all comers’ auto insurance rule
November 16, 2021 by Greg MeckbachOntario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services…
BrokerLink acquires brokerages in Alberta, Ontario
November 16, 2021 by Jason ContantBrokerLink has announced the acquisition of three new brokerages in Canada — one in Alberta and two in Ontario. The Intact Financial Corporation subsidiary said Monday it had acquired Alberta-based Blue Circle Insurance Brokers Ltd., as well as Ontario-based Stevenson…
Quebec’s AMF explores implications of autonomous vehicles
November 11, 2021 by Philip PoradoSelf-driving vehicles will change the auto liability landscape across Canada and raise data privacy concerns, said an issues paper from Quebec’s financial services regulator, the Autorité des marchés financiers (AMF). The paper identifies five levels within the connected and autonomous…
Why Intact is paying out less on total auto losses
November 10, 2021 by Greg MeckbachIntact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher…