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News AssociationsInsuranceMarkets / Coverages

New auto insurance policy launched for borrowed vehicles

October 15, 2019 by Jason Contant

Quebec’s financial regulator and an auto insurance group have announced the launch of a new auto policy designed for drivers who don’t own a vehicle. Regulator Autorité des marchés financiers (AMF) and Groupement des assureurs automobiles (GAA) said Monday the

News InsuranceLegislation / Regulation

What the industry can do to get out of the hard market cycle

August 30, 2019 by Adam Malik

Although regulation is one significant factor in the current hardening market conditions, that doesn’t mean the insurance industry should cry “woe is me” and wait for things to get better on their own. Instead, a pro-active approach is needed, experts

News Insurance

What Canadian policyholders think of their insurance premiums

July 16, 2019 by Jason Contant

Canadians have different concerns and beliefs about home and auto insurance depending on where in the country they reside, a new national survey commissioned by belairdirect has found. In British Columbia, one-third of respondents (34%) were concerned with the price

Feature

The Power of Now

July 1, 2019 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction (ICLR)

The industry is quite rightly focused on the future to assess emerging issues, but it must remain mindful of the present moment to address two major drivers of its poor results.

News BrokersInsurance

What brokers think of this tax change on auto insurance

June 20, 2019 by Jason Contant

The Insurance Brokers Association of Newfoundland and Labrador (IBAN) is happy with regulatory amendments that would eliminate the remaining 13% retail sales tax (RST) on auto insurance in the province. “IBAN is pleased to see the elimination of the RST

News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

What is costing Alberta auto insurers the most

June 13, 2019 by Jason Contant

Third-party liability coverage continues to be the bane of Alberta auto insurers’ existence, the province’s Automobile Insurance Rate Board (AIRB) revealed in its 2018 annual report. Provincial auto insurers collect 53% of every dollar for third-party liability coverage, but are

News InsuranceLegislation / Regulation

Is Ontario about to see electronic pink slips?

May 3, 2019 by Jason Contant

Is electronic proof of auto insurance (EPAI) just around the corner in Ontario? Industry scuttlebutt is that the new Financial Services Regulatory Authority of Ontario (FSRA) will allow the use of EPAI this summer, possibly as early as June. Canadian

News BrokersInsurance

Alberta’s new government: What next for the auto rate cap?

April 22, 2019 by David Gambrill

As the newly-elected United Conservative Party (UCP) prepares to take power in Alberta, it remains an open question what the victory will mean for the province’s auto insurance companies and brokers. In his electoral victory speech, UCP Leader Jason Kenney

News ClaimsInsurance

CU Total Loss Series: To repair, or not to repair?

April 17, 2019 by David Gambrill

Total Loss Series, Part 1:  Cycle Times Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing

News Insurance

How much of a cost decrease will get your clients to switch carriers?

January 18, 2019 by Jason Contant

More than half (56%) of polled Canadians would switch insurance providers for a savings of $150 or more, according to a new survey from Kanetix.ca, an online comparison site for insurance rates. Almost the same percentage (57%) of the 812

News InsuranceLegislation / Regulation

Alberta auto cap leading to broker-carrier contract cancellations

January 14, 2019 by Greg Meckbach

Alberta’s ceiling on auto rate increases is causing some brokers to lose their contracts with carriers. In Alberta, as a general rule carriers may not hike rates by more than 5% across their book of business. “It has resulted in

News InsuranceMarkets / Coverages

What small business owners think of private auto insurance in B.C.

December 11, 2018 by Jason Contant

As debate rages on in British Columbia over public versus private ridesharing insurance options, the Canadian Federation of Independent Business (CFIB) has released new survey results that show nearly three of four small business owners support private auto insurance. CFIB