Keyword
auto insurance
What Canadian policyholders think of their insurance premiums
July 16, 2019 by Jason ContantCanadians 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…
What brokers think of this tax change on auto insurance
June 20, 2019 by Jason ContantThe 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…
What is costing Alberta auto insurers the most
June 13, 2019 by Jason ContantThird-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…
Is Ontario about to see electronic pink slips?
May 3, 2019 by Jason ContantIs 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…
Alberta’s new government: What next for the auto rate cap?
April 22, 2019 by David GambrillAs 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…
CU Total Loss Series: To repair, or not to repair?
April 17, 2019 by David GambrillTotal 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…
How much of a cost decrease will get your clients to switch carriers?
January 18, 2019 by Jason ContantMore 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…
Alberta auto cap leading to broker-carrier contract cancellations
January 14, 2019 by Greg MeckbachAlberta’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…
What small business owners think of private auto insurance in B.C.
December 11, 2018 by Jason ContantAs 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…
Insurer pushing for new auto fraud laws
December 5, 2018 by Greg MeckbachA major insurer is calling for new laws prohibiting various forms of auto insurance fraud in Ontario. “As an industry we need a new set of provincial offences that will allow for the efficient and effective prosecution of fraud,” said…
Brokers, do your auto insurers cover HST on capped benefits?
November 14, 2018 by Greg MeckbachBrokers placing Ontario auto coverage should ask insurers whether they are including sales tax when they calculate caps on benefits, a lawyer told Canadian Underwriter Tuesday. Ontario consumers must pay 13% Harmonized Sales Tax on many goods and services. Some…
Legislature defeats bill quashing territorial ratings in Toronto area
November 5, 2018 by Greg MeckbachIf you have clients living in Brampton or near the intersection of Jane St. and Finch Ave., they will probably continue paying more for auto insurance than if they lived elsewhere in the Greater Toronto Area. A bill proposing to…