The 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…
A 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…
An 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…
Auto 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…
Manitoba 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.…
Ontario’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…
Despite 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…
The 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’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…
Although 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…
A month after being sworn into office, Ontario’s new political rulers have been silent on the issue of auto insurance reform. “We haven’t heard anything formal yet from government,” confirmed Pete Karageorgos, the director of consumer and industry relations for…
Aviva Canada is diversifying its portfolio of business to avoid exposure to deteriorating conditions in Ontario’s auto insurance market. “When you look at Aviva’s business in Canada, there’s a heavy concentration in Ontario auto,” Aviva Canada president and CEO Colm…