Keyword
auto insurance
Regulation suppressing required auto insurance rate increases
September 6, 2018 by Greg MeckbachSome Canadian auto insurers would hike rates even further if provincial bureaucrats would let them, a New Jersey-based analyst said Wednesday at A.M. Best’s 2018 Insurance Market Briefing-Canada in Toronto. In a recent report, A.M. Best Company Inc. warned of…
Ontario auto insurer’s examiner gets day in court
September 5, 2018 by Greg MeckbachLast week’s court ruling against a prominent personal injury lawyer could give Ontario auto insurers’ medical examiners recourse if those doctors feel their conduct has been publicly maligned. Dr. Howard Platnick is a Toronto physician who does medical examinations for…
Insurer CEO to personally visit FSCO asking for higher rates
August 30, 2018 by Greg MeckbachThe newly-elected Ontario government should let carriers change their rates without approval from the Financial Services Commission of Ontario, the president of a mutual that writes auto contends. It “makes sense” to require insurers to file rates with FSCO “but…
Are consumers warming to telematics?
August 28, 2018 by Jason ContantA new survey for belairdirect has found more than half (53%) of polled Canadians would use an app that tracks their driving habits if it meant having a more personalized auto insurance rating. The finding contrasts recent industry comments and…
When parents give their kids permission to drive: the limit to ‘implied consent’
August 24, 2018 by Greg MeckbachAn Ontario auto insurer went too far in arguing that a motorist gave her son – whose license was suspended – implied permission to drive her vehicle because she left the keys on a hook while she was out of…
Tow referral fee rules ‘hard to monitor and enforce,’ insurer warns
August 23, 2018 by Greg MeckbachAuto insurance providers should remind motorists that in the event of an accident, it is usually the driver – not the tow truck operator – who decides where the car gets towed. Motorists often don’t know what rights they have…
Auto fraud getting worse, insurer says
August 21, 2018 by Greg MeckbachManitoba Public Insurance Corporation (MPI) is reporting an increase in auto insurance fraud, including false claims for income replacement benefits. “Disturbingly, the corporation’s special investigation unit is seeing an increase in fraudulent activity,” the province’s public auto insurer reported Friday.…
Tories pledge to work with industry to lower Ontario auto rates
August 15, 2018 by Greg MeckbachOntario’s new finance minister is promising to work with industry to reduce auto insurance rates, but does not want the as-yet-unspecified plan to be a mere “photo opportunity.” Rates have increased for three consecutive quarters, despite several measures over the…
How individual insurers have responded to challenges in Ontario auto
August 14, 2018 by Greg MeckbachDespite a consensus in the industry that auto insurance rates are inadequate in Ontario, not all insurers are trying to diversify their business to reduce their exposure to this particular line. The Co-operators Group Ltd. “does not intend to reduce…
Public insurer proposes major shake-up to auto insurance rating model
August 9, 2018 by David GambrillThe Insurance Corporation of B.C. is proposing a significant shake-up of its auto insurance rating system, introducing a “fair rate” system that would have higher-risk drivers paying higher premiums than lower-risk drivers. “We want to make Basic insurance premiums more…
Ontario PCs historically ‘very receptive’ to auto rate reform: Intact CEO
August 9, 2018 by Greg MeckbachOntario’s newly-elected government has been silent on auto insurance reform, but the head of Canada’s largest property and casualty insurance carrier is encouraged by the Progressive Conservative Party’s historical leaning towards loosening rate regulation. The Progressive Conservative Party was returned…
How Ontario’s new government needs to handle the auto file
August 6, 2018 by Jason ContantAlthough Ontario’s new Progressive Conservative government has not publicly disclosed its plans for auto insurance reform, the industry’s trade association has some thoughts on where it should go. Pete Karageorgos, director of consumer and industry relations with Insurance Bureau of…