Topic Personal Auto
Something new to tell drivers to help stop distracted driving
February 4, 2021 by Adam MalikMessaging around distracted driving hasn’t worked, so it’s time to come up with a new strategy to reduce driving risk, a panellist on a recent webinar suggested. Instead of saying how bad it is to be distracted, insurers and governments…
Deal Tracker: The latest in brokerage M&A
February 4, 2021 by Jason ContantThe number of mergers and acquisitions in the Canadian P&C insurance space (mostly involving brokerages) has hit double digits already this year, with two large brokerages contributing to the latest round of deal-making. Hub International announced Tuesday that it had…
How to avoid turning the mishandling of a claim into a six-figure bad faith award
February 3, 2021 by David GambrillA Manitoba court decision ordering the province’s public auto insurer to pay a bad faith award of $350,000 serves as a cautionary tale to the industry that bad faith awards for mishandling a claim can be made even after a…
Unintended M&A consequence: A shrinking carrier residual market
February 3, 2021 by Adam MalikThe number of carriers supporting Canada’s residual market for high-risk auto insureds is shrinking thanks to a combination of player withdrawal and mergers and acquisition activity. Tackling this issue is one of a number of priorities for the Facility Association…
B.C. drivers to receive COVID-19 insurance rebate cheques averaging $190 next month
February 3, 2021 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – Almost three million drivers in British Columbia will receive COVID-19 insurance rebate cheques next month that average about $190 each, Premier John Horgan said Tuesday. The Insurance Corporation of British Columbia will return $600 million in net savings…
Canadian auto and property insurance rates headed in opposite directions
February 1, 2021 by Jason ContantAverage personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both…
Support in Canadian P&C industry for U.K. approach to insuring automated cars
January 29, 2021 by David GambrillInsurance programs for connected and autonomous vehicles (CAV) in the United Kingdom may be applicable to Canada as well, according to a recent survey from Canada’s association of provincial insurance regulators. In the U.K., the Automated and Electrical Vehicles Act…
P&C industry needs better data about distracted driving
January 28, 2021 by Adam MalikThere’s a fairly significant gap between what government agencies have to say about distracted driving and what data companies are able to capture, and that is playing a role in the ineffective portrayal and messaging around the seriousness of people…
Telematics: Who’s jumping into the pool and who’s watching from the deck
January 28, 2021 by Greg MeckbachAuto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance…
How B.C. is changing the way vehicle repair and replacement costs are paid
January 27, 2021 by Jason ContantBritish Columbia is changing the way vehicle repair and replacement costs are paid in a move the province’s public auto insurer says will ensure all policyholders receive a consistent level of vehicle damage protection when they are not responsible for…
Your clients are more willing to share personal data for a better insurance deal
January 26, 2021 by David GambrillConsumers are increasingly willing to share their personal information with their insurers as long as it will help them prevent injury and loss, according to a recent consumer research conducted by Accenture. The caveat here is that consumers don’t trust…
Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada
January 25, 2021 by David GambrillGarth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered…