Topic Personal Auto
RSA shareholders approve Intact-Tryg takeover
January 18, 2021 by Greg MeckbachIntact Financial Corp.’s proposed takeover of RSA Canada has crossed two additional hurdles. The deal was approved Monday by a majority of shareholders of London-based RSA, Intact said in a release. Canada’s federal competition bureau has also approved the deal,…
Brokers negotiate major role in this province’s digital auto insurance distribution
January 14, 2021 by Greg MeckbachManitoba’s brokers will provide input on designing a system for online auto insurance in the province and will be involved in every digital transaction, says the provincial broker association. A recently-signed, five-year agreement between Manitoba Public Insurance (MPI) and the…
How many people TD says will soon buy insurance online
January 12, 2021 by Adam MalikCanadian customers may have been slower to adopt to digital options when it comes to insurance in the past but one insurer executive expects the tables to turn rather quickly, predicting half of its customers buying insurance online in the…
Where auto insurance rate could go this year
January 11, 2021 by Adam MalikAuto insurance rates on the whole have softened thanks to the COVID-19 pandemic. But as vaccines offer a glimmer of hope of a return to something resembling pre-crisis normal, it’s up in the air as to what will happen to…
Opinion: Why you should pursue subrogation more often
January 7, 2021 by Wilfred Tioh, SIAdvisers Consulting & SolutionsThe most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party…
Brokerage M&A off to a strong start in 2021
January 7, 2021 by Jason ContantLarge Canadian brokerage Westland Insurance Group Ltd. now has a coast-to-coast presence with its acquisition of Storm Insurance Group, which has offices in Nova Scotia and Quebec. The deal, which closed Wednesday, is one of three acquisitions closed or announced…
Police looking for driver, passengers after vehicle not found at site of reported crash
January 7, 2021 by The Canadian PressNORFOLK COUNTY, Ont. – Ontario Provincial Police are searching for people involved in a reported rollover collision after officers couldn’t find the damaged vehicle. The Norfolk County detachment says a witness reported seeing a pickup truck that had rolled over…
Mystery solved: Phantom passenger loses accident benefits case
January 6, 2021 by David GambrillOntario’s Licence Appeal Tribunal (LAT) has denied accident benefits to a claimant who said she had been injured in an auto collision, finding that the claimant could not prove she was actually in the car when the accident happened. Maxine…
The case for retaining clients instead of finding new ones
January 5, 2021 by Adam MalikThe insurance industry is putting a disproportionate amount of effort in bringing new customers to their business and not investing enough in client retention, which is a far more affordable strategy, says an industry observer. Further plaguing the industry is…
The ‘strange and new opportunity’ for insurance from open banking
January 4, 2021 by Greg MeckbachIf Canada proceeds with so-called “consumer-directed finance,” technology firms could potentially get access to consumers’ insurance data, a Microsoft Canada expert told brokers during a recent webinar. The federal finance department appointed its Advisory Committee on Open Banking in 2018.…
Honda recalls 130,000 vehicles in Canada
December 17, 2020 by The Canadian PressMARKHAM, Ont. – Honda says it will recall 130,000 vehicles in Canada, including certain Fit, Civic, Accord, Insight and Acura ILX models, after announcing a similar recall of 1.4 million vehicles in the U.S. The automaker says 96,761 of the…
How family protection endorsement works when multiple tortfeasors liable
December 16, 2020 by Greg MeckbachA Court of Appeal for Ontario ruling that reduced an Ontario auto insurer’s liability by more than $500,000 is now final. The Supreme Court of Canada announced Dec. 10 it will not hear an appeal from Gregory Tuffnail, who was…