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auto insurance

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More fairness in Ontario auto insurance needed to fix the system: IBC’s Forgeron

October 24, 2016 by Canadian Underwriter

Fairness is still lacking in Ontario’s auto insurance system and a balance needs to be struck between both lower premiums and the right level of benefits, Don Forgeron, president and chief executive officer of Insurance Bureau of Canada (IBC), said

News InsuranceMergers and Aqcuisitions

Auto insurance rates rise in Ontario despite Liberal pledge to cut by 15 per cent

October 19, 2016 The Canadian Press

TORONTO – Auto insurance rates are rising in Ontario, moving the Liberal government even further away from a self-imposed target of an average 15-per-cent reduction. The Liberals promised in 2013 to cut auto insurance premiums an average of 15 per

News Earnings / RatingsInsuranceMergers and AqcuisitionsProfessional Development

ICBC asks for 4.9% increase to basic insurance rates, lower than last year’s 5.5% increase

August 26, 2016 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) announced on Thursday that it will submit its 2016 basic rate application to the British Columbia Utilities Commission, asking for a 4.9% increase to basic insurance rates – lower than last year’s 5.5%

Feature InsuranceTechnology

Capitalizing on Analytics

August 2, 2016 Angela Stelmakowich, Editor; and Jason Contant, Online Editor

Time will bring more and more data. But to truly understand and reap the benefits, information needs to be properly analyzed. First-movers are expected to realize the biggest advantage and chart their future paths.

News Earnings / RatingsInsuranceMergers and Aqcuisitions

SGI Canada reports underwriting income of $42 million for 15 months ending March 31

July 19, 2016 by Canadian Underwriter

Saskatchewan Government Insurance announced Monday that the province’s Auto Fund had an underwriting loss of $11.1 million for the 15 months ending March 31, 2016, while SGI Canada, the competitive arm of SGI, had underwriting income of $42 million during

News AssociationsInsuranceMergers and Aqcuisitions

Claims settlement a particularly “fuzzy concept” for Quebec drivers, new poll suggests

June 21, 2016 by Canadian Underwriter

Less than a week after a survey commissioned by the Financial Services Commission of Ontario found that only 10% of Ontario drivers reported being “very knowledgeable” about the elements in a standard auto policy, a new poll has found that

News InsuranceMergers and Aqcuisitions

Saskatchewan government introduces more than 20 amendments to auto insurance program

June 15, 2016 by Canadian Underwriter

The Minister responsible for Saskatchewan Government Insurance (SGI), Don McMorris, has introduced more than 20 amendments to The Automobile Accident Insurance Act that the government says will improve Saskatchewan’s auto injury programs to better meet the needs of people who

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Only 10% of Ontario drivers report being “very knowledgeable” about elements of a standard auto insurance policy: FSCO-commissioned survey

June 15, 2016 by Canadian Underwriter

Only 10% of Ontario’s nearly 10 million drivers report that they are “very knowledgeable” about the elements in a standard auto insurance policy, according to a recent survey commissioned by the Financial Services Commission of Ontario (FSCO). The survey, released

Feature InsuranceMarkets / CoveragesMergers and Aqcuisitions

Switching Gears

June 1, 2016 Valerie Monet, Director, Insurance Practice, J.D. Power

Customer satisfaction with auto insurance in Canada is improving, representing a complete turnaround from several years of declining satisfaction. Customer experience, rather than rates or rate reductions, is the driver of this newfound improvement, but is the momentum sustainable?

News AssociationsInsurance

Only 42% of polled Ontarians aware of upcoming auto insurance reforms: IBAO

May 25, 2016 by Canadian Underwriter

Consumer awareness of auto insurance reforms in Ontario – many of which come into force June 1 – is far from complete, with just four in 10 survey respondents reporting they are aware of the changes. Based on feedback from

News InsuranceLegalLegislation / Regulation

Court rules against ICBC in disability benefits dispute

May 24, 2016 by Canadian Underwriter

The British Columbia Court of Appeal recently ruled against the province’s government-run auto insurer when it upheld a lower court decision awarding disability payments after the 104-week period covered by the regulation covering auto accident benefits, essentially finding that a

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Insurance websites not keeping pace with changing customer expectations: J.D. Power

May 19, 2016 by Canadian Underwriter

Insurer websites are not keeping up with customer expectations, with just over half (55%) of those polled saying they “definitely will” return to the site for their servicing needs, according to the J.D. Power 2016 Insurance Digital Evaluation Study, released