Keyword
Alberta
New government commits to auto insurance reform
July 17, 2023 by David GambrillAlberta’s new UCP government has tasked its minister of finance, Nate Horner, to come up with options for auto insurance reform. Alberta Premier Danielle Smith sent a mandate letter to Horner dated July 13 instructing Horner to lead a review…
Federal and Alberta governments to study oilsands tailings leak communication
March 17, 2023 Bob Weber THE CANADIAN PRESSEDMONTON — The Alberta and federal governments say they will work together to understand what happened around a nine-month delay in notifying the public about toxic seepage from an oilsands tailings pond. Alberta Environment Minister Sonya Savage and federal Environment…
How telematics may help Alberta truckers’ rates
February 9, 2023 Philip PoradoWith an eye toward improving driving habits, Facility Association (FA) announced the launch of a telematics program for truck drivers in Alberta, effective May 1, 2023. It said the program’s objective is to help drivers and operators correct poor driving…
How an Alberta election may impact decisions on captive insurance
January 12, 2023 Philip PoradoCompanies looking at the benefits of setting up an Alberta captive insurance company appear to be taking a ‘wait-and-see approach’ with respect to tax treatment. At the moment, the province’s tax authorities have indicated captives will be treated the same…
Update on how Canada’s newest DCPD regime is doing
May 30, 2022 by Alyssa DiSabatinoAlberta’s transition toward the Direct Compensation for Property Damage (DCPD) framework has been quite seamless for insurers and personal auto policyholders for the most part, says one industry expert, although some commercial vehicle operators who don’t want to pay for…
What’s behind reduced auto risk sharing pool usage
March 11, 2021 by Adam MalikThe use of risk sharing pools for private passenger auto insurance in Ontario and Alberta dropped last year, according to Facility Association. And when it came to the overall usage of risk sharing pools across the country, there was a…
Mother Nature’s wrath
December 7, 2020 Derek ClouthierAlberta continues to endure the most expensive insured weather events in Canada. What’s happening and what can be done about it?
Why insurers incurred penalties for over-charging Alberta auto clients
October 2, 2020 by Greg MeckbachProgramming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to…
What happens in Alberta when auto insurers are not comfortable with their profitability
September 23, 2020 by Greg MeckbachThe Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday…
P&C insurers can handle severe weather events, but for how long?
July 27, 2020 by Adam MalikCanadian property and casualty insurers should be able to manage well financially for the time being, despite currently dealing with a pandemic and the fourth-most expensive natural catastrophe in the country’s history, says global credit rating agency DBRS Morningstar. However,…
How many claims the Calgary hail storm caused
July 16, 2020 by Greg MeckbachThe industry is dealing with more than 70,000 claims arising from last month’s hail storm in Alberta, but it’s not clear yet how much of the bill will get picked up by reinsurers, the Insurance Bureau of Canada reports. The…
Briefing Note: Alberta
July 3, 2020 Canadian Underwriter StaffBefore COVID-19 hit Canada in March, George Hodgson, CEO of the Insurance Brokers Association of Alberta, says “a good chunk of habitational personal property was probably doing okay.” At least, outside of the condo market. Brokers are struggling to place…