The long-tail nature of auto bodily injury claims, in addition to insurers’ fixed claims adjustment costs, are among the reasons why insurers are not likely going to reduce auto premiums in proportion to the drop in driving observed during COVID-19.…
Digital has made it easier for Canada’s property and casualty insurance industry to serve customers who wish to purchase a fairly straightforward insurance product, but more emphasis needs to be placed on converting customers who are kicking the tires on…
Ontario’s Licence Appeal Tribunal (LAT) has ruled that Intact Insurance is not obligated to fund a claimant’s $10,200 multidisciplinary report, the purpose of which was to dispute Intact’s decision to cease income replacement benefits after a 104-week period of entitlement.…
The long-tail nature of motor vehicle liability and auto accident benefits claims means a temporary drop in total miles driven due to the pandemic does not necessarily equate to a corresponding drop in premiums for your clients, Intact executives suggest.…
Vehicle manufacturers are likely going to be on the hook for damages following autonomous car crashes in which no human being is controlling the vehicle, a cyber insurance specialist says. “Certainly, one of the more dramatic ways of thinking about…
May 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario. Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.…
REGINA – Saskatchewan’s Crown-owned insurer says it will start mailing rebates on vehicle insurance this week. Saskatchewan Government Insurance says 709,000 cheques are to be sent out. The rebates apply to all vehicles, motorcycles, trailers and snowmobiles for which insurance…
Price point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across…
B.C.’s move towards a form of no-fault auto insurance could wind up reducing liability exposure for commercial insureds in the hospitality and other high-risk sectors, according to a recent blog by Borden Ladner Gervais LLP. The province’s no-fault amendments came…
Canadians tend to pay higher premium for insurance than citizens in many, if not most, other developed nations, according to a recent report from the C.D. Howe Institute. Three years in the making, the report is authored by Alister Campbell,…
Alberta’s broker regulator has issued a civil penalty of $26,000 against a former broker found to have issued false insurance certificates to clients as “placeholders” until coverage was bound — which it never was. The penalty was based on 52…
TORONTO – Canadian auto sales in April were up 254 per cent compared with the same month last year, when sales plunged due to lockdowns in the early stages of the COVID-19 pandemic. According to estimates compiled by DesRosiers Automotive…