Canadian Underwriter

Topic Personal Auto

Discussing financial results
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How Aviva Canada is handling personal lines’ pressures

March 8, 2024 by Jason Contant

Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines.  The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up

Aviva Canada's 2023 financial results
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How Aviva Canada fared in 2023

March 7, 2024 by Jason Contant

Aviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft.  The undiscounted ratio for 2023 was up

A person's hand breaking the window of a vehicle for the purpose of auto theft
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How auto theft, inflation and vehicle complexity boost claims costs

March 6, 2024 by Philip Porado

Late last year, Toronto’s police department wrapped an auto theft intervention, codenamed Project Stallion, that recovered 1,080 vehicles stolen citywide with a combined value of $59 million. That works out to just shy of $55,000 per vehicle. Auto theft is

Car insurance application
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FSRA’s plans for auto coverage regulation

March 5, 2024 by Philip Porado

Ontario’s auto insurers shouldn’t expect changes to the ‘take all comers’ or Unfair or Deceptive Practices Act rules, Michelle Dodokin, head of auto insurance supervision at Ontario’s Financial Services Regulatory Authority (FSRA), told a breakout session at Monday’s 2024 FSRA

Quebecers will soon be able to opt for an 'X' gender marker.
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Quebec to offer ‘X’ gender option for health cards, driver’s licences

March 5, 2024 by Morgan Lowrie – The Canadian Press

Quebecers who do not identify as male or female will soon be able to opt for an ‘X’ gender marker on their health cards and driver’s licences. Both Quebec’s automobile insurance board and its public health insurance board confirmed Monday

Woman holding an auto key. The steering wheel and dashboard are in the background.
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What the P&C industry should tell clients about preventing auto theft

March 5, 2024 by Alyssa DiSabatino

While the federal government is chipping away at a plan to combat auto theft nationwide, P&C professionals can advise their clients now to help them protect their vehicles, experts said during a Canadian Underwriter webinar last week.  “We call it

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Regulator defends use of territories for rating auto insurance

March 4, 2024 by David Gambrill

Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday.

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Summit discusses a new national office on auto theft

February 29, 2024 by Alyssa DiSabatino

Property and casualty insurance industry professionals and a car manufacturing industry representative are endorsing the idea of establishing a national auto theft office, an idea floated at Ottawa’s National Summit on Combatting Auto Theft earlier this month.  “Criminals have really

Happy salesman selling the car to his female customer in a showroom.
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Vehicle warranties: Auto insurers don’t owe premium tax on dealer’s fees

February 29, 2024 by David Gambrill

An insurer doesn’t owe provincial premium tax on auto dealer’s fees charged for vehicle equipment warranties, the Supreme Court of B.C. has ruled. Vehicle equipment warranties are commonly sold at auto dealerships. Customers pay for vehicle warranty policies as part

Hand holding two jigsaw puzzles pieces.
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Navacord’s first deal of the year 

February 29, 2024 by Jason Contant

Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance.  Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press

Expensive car wrecked on a street
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Why complex cars create costly problems

February 28, 2024 by Philip Porado

An acute shortage of semiconductors is a big contributor to rising auto claims costs for auto insurers. “That’s had a significant impact in certain types of cars,” says Paul Gilbody, president of ClaimsPro Canada. “A huge amount of electronics now

Autonomous car sensor system concept for safety of driverless mode car control
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Safety tech in cars isn’t reducing insurers’ claims costs

February 27, 2024 by David Gambrill

Much has been made of the new electronic safety tech in cars, but it doesn’t seem to be making a dent in auto insurers’ claims costs, according to a new report by Rates.ca. “You might expect that with more safety