Canadian Underwriter

Topic Personal Auto

Matthew Turack
News InsurersPersonal AutoPersonal HomeTrusted Advisor

2024 Executive Outlook |Matthew Turack, CAA Insurance, Echelon Insurance, Orion Travel Insurance

December 28, 2023 by Canadian Underwriter Staff

Matthew Turack, Group President, CAA Insurance, Echelon Insurance, Orion Travel Insurance Collaboration will be key for the insurance industry in 2024. We are seeing complex issues take hold that cannot be solved by one organization, industry or sector. The rising rate

Anna McCrindell, Wawanesa Mutual Insurance
News AdjustersCommercial AutoInsurersLoss TrendsPersonal AutoPersonal HomeProperty

2024 Executive Outlook |Anna McCrindell, Wawanesa Insurance

December 22, 2023 by Canadian Underwriter Staff

Anna McCrindell, senior vice president, COO – East, Wawanesa Insurance This year challenged insurers and our broker partners. Inflation and macroeconomic pressures drove up costs, auto thefts reached new and troublesome levels, and climate change resulted in a devastating wildfire season

Ben Isota Riches
News BrokersCommercial AutoHRInsurersPersonal AutoPersonal Home

2024 Executive Outlook | Ben Isotta-Riches, Aviva Canada

December 21, 2023 by Canadian Underwriter Staff

Ben Isotta-Riches, chief distribution officer, Aviva Canada I am cautiously optimistic about 2024. Across the country, the cost-of-living crisis, inflation and climate change continue to affect Canadians and businesses. In Ontario and Quebec, vehicle theft is adding to loss ratios in personal

fortunetelling 2024 with a golden crystal ball in a hand, festive atmosphere for happy new year party or award ceremony or other holiday celebrations, 3d illustration
News BrokersClaimsClaims ProfessionalsCommercialCommercial AutoCyberEmerging RisksInsurersPersonal AutoPersonal HomeRisk Managers

Introducing our 2024 Executive Outlook series

December 19, 2023 by David Gambrill

In the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,

Insurance losses going down the drain
News AlbertaB.C.BrokersClaimsEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioPersonal AutoPersonal HomeQuebecRisk ManagersTrusted Advisor

How insurers can manage losses as NatCat events ramp up

December 18, 2023 by Philip Porado

Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars

Bad car crash
News BrokersClaimsClaims ProfessionalsInsurersPersonal AutoProperty

Do auto clients ask for trouble by hiking deductibles?

December 15, 2023 by Philip Porado

During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on

Tesla is recalling at least 193,000 cars in Canada to fix a defective Autopilot function.
News LegalLiabilityPersonal AutoTechnology

Transport Canada says Tesla recall will affect roughly 193,000 cars in Canada

December 14, 2023 by The Canadian Press

OTTAWA – Tesla’s recall over its autopilot function will affect about 193,000 vehicles in Canada. Transport Canada says Tesla will provide an over-the-air software update to fix the advanced driver assistance features. Transport Canada says the recall will be added

Fire, flood, hurricane
News AlbertaB.C.BrokersCatastrophesClaimsInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaPersonal AutoPersonal Home

Can Canada’s P&C industry catch up to NatCats?

December 14, 2023 by Philip Porado

In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents

Minor car accident
News BrokersClaimsPersonal Auto

How economic woes hike minor accident claims

December 13, 2023 by Philip Porado

Current economic conditions have people stressed, and it’s showing up in personal auto claims, said Jesica Ryzynski, a claims specialist with Mitch Insurance. Minor at-fault accidents among insureds are taking place more frequently, she told CU, with many taking place

Tow Truck Driver Hauling a Wrecked Car
News ClaimsClaims ProfessionalsInsurersLegalLicensingOntarioPersonal Auto

Ontario to take over licensing and oversight of tow truck industry

December 12, 2023 by David Gambrill

Ontario is taking tow truck services out of the hands of municipalities and requiring tow truck operators to be certified and adhere to a Code of Conduct. “This marks the end of municipal regulation of towing and storage operators, with

Merger and acquisition business concept
News CommercialCommercial AutoHRInsurersManagementMergers and AqcuisitionsOntarioOperationsPersonal AutoQuebec

MGA acquires Echelon’s surety division

December 11, 2023 by Jason Contant

Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division.  “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,

Magnifying glass with documents
News CatastrophesClaimsCommercialCommercial AutoEmerging RisksInsurersPersonal AutoPersonal Home

Why you can expect more insurance regulation next year

December 11, 2023 by David Gambrill

As the hard market proceeds apace in the Canadian P&C insurance industry, a projected economic slowdown in 2024 could invite more insurance regulation, since Canadians will find it harder to pay their insurance bills, a ratings agency warned. “While growing