Topic Personal Auto
How two of Canada’s largest P&C brokerages closed 2022
January 9, 2023 by Jason ContantWestland Insurance Group and BrokerLink ended 2022 with a bang, closing several merger and acquisition deals in December and bringing combined yearly transactions to more than 50 acquisitions. Westland announced in December the acquisition of Nova Scotia-based Gateway Insurance Group…
Can the P&C industry navigate these 3 problems in 2023?
January 9, 2023 by David GambrillThanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…
Falling off the roof of a camper trailer is an “auto accident,” court rules
January 6, 2023 by David GambrillA man falling from the roof of his insured camper trailer while doing a pre-trip inspection counts as an auto accident, Ontario’s Superior Court found. Tuesday’s court ruling overturned a decision by Ontario’s Licence Appeal Tribunal, which found the man’s…
Do Canadians want to buy insurance from their car manufacturers?
January 6, 2023 by Alyssa DiSabatinoJust over a quarter (27%) of Canadian consumers are very or somewhat interested in purchasing car insurance directly from their manufacturers, a recent Deloitte survey found. When asked what they saw as the primary benefits, almost half (47%) of interested…
What will drive collision repair delays in 2023?
January 5, 2023 by Alyssa DiSabatinoDelays in collision repair services, which started in 2021 and continued into 2022, will not stop anytime soon due to an ongoing repair technician labour shortage in Canada and the U.S., a consulting firm reported in a recent whitepaper. “From…
2022 auto sales lowest since 2009: DesRosiers
January 5, 2023 by The Canadian PressDesRosiers Automotive Consultants Inc. says light vehicle sales were up 5.5 per cent in December compared with last year but were down for the whole year. The firm estimates 109,000 new light vehicles were sold in the month of December,…
How the upcoming recession will affect your home and auto clients
January 3, 2023 by Jason ContantWith a potential recession on the horizon, consumers will likely purchase fewer big-ticket items such as cars and homes. Of course, this also means a decrease in demand for the Canadian P&C insurance industry. “Cars can be seen as a…
How switching appliances can shorten claims cycles
December 15, 2022 by Philip PoradoSupply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys…
The self-driving era is here, the question is what comes next
December 15, 2022 by Ian Bickis - THE CANADIAN PRESSTORONTO – The self-driving era is here, just not the one that was promised. Instead of sleek pods without steering wheels ready to chauffeur buyers off the lot, there are mostly driverless Chevy compacts, Chrysler minivans, and Ford box trucks…
Which policyholders want EVs — and why it will cost them more in premiums
December 15, 2022 by Alyssa Di SabatinoCanadian male policyholders are more interested in electric vehicles (EV) than female policyholders, according to a Deloitte survey — and this could affect their already pricier insurance rates, said RatesDotCa. Of the Canadians buying a vehicle in the next three…
Four years after marijuana legalization: What are auto claims looking like?
December 14, 2022 by Jason ContantMarijuana legalization in Canada has shown “no statistically significant changes in the average cost per claim and claim frequency,” according to a new report from the Canadian Institute of Actuaries (CIA) and the Casualty Actuarial Society (CAS). “The literature review…
Why claims adjusters face a labour force double whammy
December 14, 2022 by Philip PoradoSolving the P&C industry’s talent recruitment difficulties will be a key focus for 2023, according to industry respondents to Canadian Underwriter’s annual Executive Outlook survey. While respondents focused mainly on the needs of the broking and underwriting business segments, the…