December 19, 2002 by Canadian Underwriter
With the release of the 2002 Auto Claims Satisfaction survey from the Financial Services Commission of Ontario (FSCO), the industry saw its satisfaction level rise to 86%, its highest level since the survey’s introduction five years ago.
Topping the survey was State Farm, with an overall rating of 95%, followed by Farmers’ Mutual of Lindsay, Ontario, and Pilot, each with 93%. Last year’s top performer, Chubb, sits at 91%, matched by Motors Insurance Corp., and followed closely by Waterloo at 90%.
On the other end of the scale, high-risk insurer Kingsway came in last with a 61% rating. Coachman and Belair (ING’s direct operation) achieved just 77%, and TD General saw a 78% rating. All of these companies finished behind the Facility Association, which had a 79% rating.
The survey is conducted by an independent market research firm, based on a random sampling of each company’s claims from 2001.
The Insurance Bureau of Canada praised insurers for the overall high marks, which also include an 86% rating for timeliness and fairness, 85% for helpfulness, knowledge and expertise, and 78% for keeping the customer informed. This is the first time the additional categories have been surveyed.
“Despite a difficult insurance market, insurers continue to further improve the level of consumer satisfaction in dealing with claims,” says Mark Yakabuski, vice president of the IBC’s Ontario division. “We’re very proud of the attention auto insurers pay towards the settlement of claims.”