Topic Personal Auto
5 key trends in the Canadian P&C market, according to Aon
May 18, 2022 by Canadian Underwriter StaffP&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively…
Two auto physical damage trends of concern to one insurer
May 18, 2022 by Jason ContantDefinity Financial Corporation’s executive vice president of personal insurance is concerned about two trends in auto physical damage. “The two areas that are of concern to us are theft and total loss, where we are seeing approximately a 25% increase…
Ontario auto: Should employee benefits or auto insurers pay out first?
May 17, 2022 by Jason ContantIf the Ontario Progressive Conservative Party moves ahead with one of its proposed changes to auto insurance, it could result in increased claims costs for auto insurers, or else shift the burden more onto extended (supplementary) health insurance policies, says…
What Intact’s CEO thinks of Ontario’s auto insurance budget
May 16, 2022 by Alyssa DiSabatinoIntact’s CEO Charles Brindamour said he is “quite thrilled” with some of the auto insurance reform measures contained in Ontario government’s proposed budget. Brindamour commented on the budget proposals for auto insurance reform during a Virtual Fireside Chat with RBC…
Car owner vicariously liable for crash despite reporting her vehicle stolen
May 13, 2022 by David GambrillA car owner is vicariously liable for any damage or injury caused by the driver of their borrowed car, even if the owner places conditions on — or revokes — consent while the driver is still in possession of the…
Industry’s 2022 results won’t be as good as 2021, Definity CEO predicts
May 13, 2022 by Jason ContantDefinity Financial Corporation president and CEO Rowan Saunders doesn’t expect the Canadian P&C insurance industry’s return on equity to remain as elevated as it was last year. In 2021, the industry’s ROE hit 17%. The industry also recorded the lowest-ever…
Ontario Liberals eye auto insurance rates and towing sector
May 13, 2022 by Philip PoradoOntario Liberals want to bring down auto insurance rates but not via percentage targets, as envisioned by the New Democrats. “We will also work tirelessly to bring down auto insurance rates,” said Ontario Liberal Party press secretary Andrea Ernesaks. She noted that will…
Where have all the good underwriters gone?
May 12, 2022 by Gloria CilliersFor years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…
Appeal Court green-lights key feature of B.C.’s no-fault auto reform
May 12, 2022 by David GambrillA central pillar of the B.C. government’s auto insurance reform — that the province’s Civil Rules Tribunal (CRT) has exclusive jurisdiction to determine minor injuries below $50,000, and not the courts — has been found constitutional by the B.C. Appeal…
4 insurance industry trends to watch
May 11, 2022 by Tara KellyIn this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in…
What auto insurers need to deny coverage based on alleged suicide attempt
May 11, 2022 by David GambrillEditor’s Note: This article has been corrected so that all incorrect references to Unica have been replaced with correct references to Optium. Canadian Underwriter apologizes for the error. If an insurer wishes to deny auto coverage to an injured…
What Intact expects from personal and commercial lines
May 11, 2022 by Alyssa DiSabatinoNow that pandemic restrictions have lifted, Intact expects to see muted growth in its personal auto and property lines, while commercial lines is positioned for a better performance, the CEO of Intact Financial Corporation said at Intact’s 2022 Q1 results…