Canadian Underwriter

Topic Personal Auto

Gas prices displayed in Vancouver in May
News InsurersPersonal AutoTrending

Higher gas, auto sales boosted retail spending in June, Statistics Canada says 

August 19, 2022 by The Canadian Press

OTTAWA – Canadian retail sales increased 1.1 per cent to $63.1 billion in June, boosted by higher sales at gasoline stations and motor vehicle and parts dealers, Statistics Canada said Friday.  However, the agency said its preliminary estimate for July

A blue car bumper is smashed
News BrokersClaimsCommercial AutoInsurersPersonal Auto

Do new cars reduce fatality for women in accidents?

August 19, 2022 by Alyssa DiSabatino

Women are safer driving newer cars, a new report by the U.S. National Highway Traffic Safety Administration suggests. Female fatality risk compared to male fatality risk is significantly reduced in newer vehicles, starting with model year 2000, the report finds.

Father handing son car keys
News B.C.BrokersPersonal Auto

B.C. broker suspended one year for misrepresenting principal driver of her car

August 18, 2022 by David Gambrill

A B.C. broker’s license has been suspended for one year after a regulatory investigation into her processing her own ICBC Autoplan transactions uncovered that she had misrepresented the principal driver of her personal vehicle on several ICBC policies. “Council found

Marketing financial products to women
News BrokersHRInsurersPersonal AutoPersonal HomeTrusted Advisor

Are brokers and agents marketing effectively to women?

August 18, 2022 by Canadian Underwriter Staff

More than 60% of women don’t have an insurance agent, compared with fewer than half (48.1%) of men, according to a new study from Zelros, a Paris-based insurtech with offices in Montreal and New York. The survey includes data from

High cost of housing repairs are fueling rising insurance claims costs
News Business InterruptionClaimsClaims ProfessionalsClaims TechnologyCommercialCommercial AutoConstructionEmerging RisksInsurersLoss ControlLoss TrendsPersonal AutoPersonal Home

Deloitte report: How microeconomic factors will impact claims costs

August 17, 2022 by Philip Porado

Yes, overall inflation is high. One trip to the grocery store demonstrates that faster than a macroeconomics refresher lecture. So will a glance at Canada’s June 2022 Consumer Price Index, which jumped 8.1% over the prior year to mark its

Man at gas pump can't bear to look at the price he'll pay to refuel.
News Business InterruptionClaimsCommercialCommercial AutoConstructionInsurersPersonal AutoPersonal HomeProperty

As inflation and supply chain concerns ease, will insurers adjust pricing?  

August 16, 2022 by Philip Porado

Supply chain issues driving inflation since early in the COVID-19 pandemic remain a concern, although emerging signs suggest some trends impacting global goods pricing are starting to abate. “We’ve seen some easing of the supply chain challenges,” said Colette Taylor,

Diverse scientists studying DNA. Using computers and microscopes. Modern laboratory interior
News InsurersLegalOntarioPersonal Auto

Symptom validity test of auto victim upheld by doctor’s professional review board

August 16, 2022 by David Gambrill

Ontario’s overseer of medical health professionals has rejected a car accident victim’s complaint about an independent medical examiner selected by the auto insurer over the psychologist’s use of symptom validity testing. At the request of his insurer, the claimant saw

Angry elephant in the office
News ClaimsClaims ProfessionalsInsurersLegalPersonal AutoSaskatchewan

Client anger: It’s getting tough out there for insurers

August 12, 2022 by David Gambrill

Saskatchewan’s privacy officer has allowed the government’s auto insurer to withhold portions of a claimant’s risk assessment, on the basis that revealing the information could conceivably lead to injury or harm to its employees. However, the privacy commissioner required Saskatchewan

Electric vehicle at a charging station
News Emerging RisksPersonal AutoTechnology

Unifor calls for national auto strategy, dedicated ministry to capture EV potential

August 12, 2022 by Ian Bickis - THE CANADIAN PRESS

TORONTO – Unifor is calling for a national auto strategy, and a dedicated federal government ministry to lead it, at a time of “significant and uncertain change” in the industry amid the transition to electric vehicles. The recommendations are contained

Vehicle service maintenance handsome mens checking under car condition on lifter hoist in garage. Automotive mechanic man use tool to tighten and replace damaged or broken part. Repair service concept
News ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersPersonal AutoSupply Chain

Where Aviva thinks insurers are feeling inflation’s impact most acutely

August 10, 2022 by David Gambrill

Inflation is wreaking havoc in all major lines of P&C insurance, but its effects seem to be most acute in auto insurance, particularly auto physical damage, reports Aviva Canada CEO Jason Storah. “The most acute impact we’ve seen so far

Piggy bank textured with Canadian flag isolated on white background.
News BrokersCommercial AutoInsurersOntarioPersonal Auto

Ontario re-ignites commitment to auto insurance reform

August 10, 2022 by Alyssa DiSabatino

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.  The budget

Price Tag Icon
News Commercial AutoInsurersPersonal Auto

OSFI’s capital guidelines include new 2.5% charge for risk-sharing pools

August 9, 2022 by David Gambrill

Canada’s federal solvency regulator has released its final capital guidelines for the P&C insurance sector, and one new wrinkle includes a fresh approach to handle the provincial risk-sharing pools administered by Facility Association — a new 2.5% capital charge. The