Canadian Underwriter

Topic Personal Auto

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

Carjacker with gun
News BrokersClaimsCommercial AutoEmerging RisksInsurersLiabilityLoss ControlLoss TrendsPersonal Auto

How new vehicle tech is changing the auto theft equation

December 11, 2023 by Philip Porado

There’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to

Digital puzzle pieces; digital M&A concept
News AlbertaB.C.BrokersCommercialHRManagementMergers and AqcuisitionsMGAsOntarioOperationsPersonal AutoPersonal HomeTechnology

Private equity firm acquires digital brokerage

December 8, 2023 by Jason Contant

Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.

Torrential rain
News B.C.ClaimsClaims Canada ArchiveEnvironmentalPersonal AutoPersonal Home

B.C. wrings out after atmospheric river brings torrential rain and wind

December 6, 2023 by The Canadian Press

VANCOUVER – Residents in coastal and southern British Columbia are mopping up after an atmospheric river brought torrential rain and wind, while disrupting travel and utility services. The B.C. River Forecast Centre says Metro Vancouver, the south coast and Lower

Picking the lock of a car
News ClaimsClaims Canada ArchiveInsurersLegalLoss ControlLoss TrendsOntarioPersonal AutoTechnology

Police, insurers collaborate to dismantle auto theft ring

November 30, 2023 by Jason Contant

Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday.  As part of the investigation dubbed Project

Man with injured wrist and a policy on the desk across from another man
News InsurersLegalOntarioPersonal Auto

Psychologist fined over accident benefits statements

November 29, 2023 by Alyssa DiSabatino

An Ontario registered psychologist has been fined $15,000 and suspended from practice for a total of 24 months after a regulator found he made misleading accident benefits statements to insurers.  The Financial Services Regulatory Authority of Ontario (FSRA) has imposed

business woman is pointing where to sign on document, with documents in background
News BrokersCommercialCommercial AutoInsurersMergers and AqcuisitionsMGAsPersonal Auto

Aviva Canada to acquire “capital light” MGA

November 27, 2023 by David Gambrill

Aviva Canada is acquiring Optiom O2 Holdings Inc., a managing general agent (MGA) that specializes in vehicle replacement insurance in Canada. The $170-million Cdn deal is subject to regulatory approval and is expected to close in the first quarter of

New vehicles at an auto dealership holding lot
News BrokersClaimsCommercial AutoInsurersLoss ControlLoss TrendsPersonal Auto

Can car dealerships manage insurance risks from vehicle thefts?

November 27, 2023 by Philip Porado

Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.

auto and handcuffs on shiny background.
News ClaimsCommercial AutoInsurersLegalOntarioPersonal Auto

How auto insurers responded to Ontario’s auto fraud announcement

November 24, 2023 by David Gambrill

Ontario auto insurers are commending the provincial government for committing $18 million over three years to help police services combat and prevent auto theft. “Last year marked the first time in history when Canada’s insurers paid over $1 billion in claims

Car Accident Detail.
News BrokersInsurersLegalOntarioPersonal Auto

What Ontario drivers might save by dropping DCPD coverage

November 23, 2023 by David Gambrill

Ontario brokers are questioning the value of the Ontario government’s forthcoming new law allowing drivers to drop out of direct compensation property damage (DCPD) coverage for their cars. DCPD coverage is currently mandatory and protects policyholders in the event of