Topic Personal Auto
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…
Court rules Ontario auto insurer’s request for claimant data ‘unnecessarily invasive’
November 8, 2021 by Greg MeckbachAn Ontario judge has turned down a request by Aviva Insurance Company of Canada to order a claimant to produce banking records showing the location of vendors from which that claimant had made purchases. In November, 2020, an Aviva auto…
Large Canadian brokerages grow larger through acquisitions
November 5, 2021 by Jason ContantTwo large Canadian property and casualty brokerages — Navacord and Westland Insurance — continue to grow with the announcement of their latest acquisitions in Ontario and Manitoba. On Thursday, commercial brokerage Navacord Corp. said it added Ontario-based brokerages Ives Insurance…
Canadian brokerage space sees partnership, integration of brands
November 2, 2021 by Jason ContantOntario brokerage StoneRidge Insurance Brokers (SIB) has entered into a partnership with Underwriters Alliance, Inc. (UAI) to expand its service offering in group benefits and human resources services. In another announcement, large brokerage Navacord said it had completed the integration…
Insurer remains committed to specialty auto market
October 27, 2021 by Jason ContantIf you’re looking to place non-standard auto coverage for your client, rest assured that one insurer remains committed to that marketplace. “Through Echelon, we are absolutely committed to being in that, I’ll use the word specialty market. I don’t like…
With 81% of polled Canadians yet to try UBI, brokers have opportunity to educate and sell
October 26, 2021 by Canadian Underwriter StaffWhile usage-based insurance (UBI) has been around for nearly nine years in Canada, a new survey shows only 57% of Canadians have heard of UBI and 81% of those surveyed have not tried it – presenting an opportunity for brokers…
B.C.’s climate change plan aims for changes by 2030 for consumers, industry
October 26, 2021 by The Canadian PressVICTORIA – British Columbia has introduced a plan to reach its legislated target to reduce greenhouse gas emissions by 2030 with initiatives like slashing the number of kilometres driven by 25 per cent compared with last year and boosting the…
Public auto insurer applies for rate decrease, customer rebate
October 21, 2021 by Jason ContantManitoba Public Insurance (MPI) has adjusted its general rate application and is requesting a 1.2% rate decrease along with a $335 million rebate to customers. MPI recently applied to the Manitoba Public Utilities Board (PUB) for a provisional 2.8% rate…
Average personal auto premiums drop in Q3 2021; personal property up
October 21, 2021 by Phil PoradoPersonal auto premium average dropped 2.7% in 2021’s third quarter compared with the same period a year ago but rose 9.4% when compared to second quarter 2021, according to the latest Applied Rating Index, which reports Canada-wide personal auto and…