Keyword
auto insurance
Global market for usage-based insurance grew by 32% in 2016 to 14 million policies: PTOLEMUS
May 18, 2017 by Canadian UnderwriterThe global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying…
Canadian auto insurance customer satisfaction climbs despite premium increases: J.D. Power study
May 15, 2017 by Canadian UnderwriterCustomer satisfaction with auto insurance in Canada has increased for the second consecutive year despite nationwide premium increases, according to the newly released J.D. Power 2017 Canadian Auto Insurance Satisfaction Study. The study, released on Monday, found that across all…
Aviva Canada partners with Tennis Canada for home and auto insurance program
May 15, 2017 by Canadian UnderwriterAviva Canada Inc. announced on Monday that it launching a new “tennis-focused brand experience for home and auto insurance through an extended partnership” with Tennis Canada. The Tennis Canada Home and Auto insurance program for both fans and players alike…
Q1 claims and claims expense ratio improved 5.6 points for Allstate
May 10, 2017 by Canadian UnderwriterFor the second year in a row, hail in Texas in March has cost The Allstate Corp. millions of dollars in claims and claims expenses. Northbrook, Ill.-based Allstate released May 2 its financial results for the first three months of…
‘No active deals on the table’ to sell minority interest in SGI Canada
May 7, 2017 by Canadian UnderwriterSaskatchewan has a new law allowing for the sale of up to 49% of crown corporations, but the provincial government will continue to have a monopoly on compulsory auto insurance, a spokesperson for Saskatchewan Government Insurance told Canadian Underwriter Friday.…
Ontario brokers voice support for provincial commitment to electronic proof of insurance
April 28, 2017 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) has welcomed the provincial government’s budget pledge to give drivers the option of electronic proof of insurance, a move IBAO suggests will help make insurance more affordable for consumers. The advance is part…
‘Fresh approach’ needed for Ontario auto insurance: IBC CEO
April 25, 2017 Greg Meckbach, Associate EditorA report released two weeks ago is “probably the best description we have to date of what is wrong” with Ontario’s auto insurance system, the chief executive officer of Insurance Bureau of Canada said Tuesday. In opening remarks at IBC’s…
New Ontario financial authority should monitor auto insurers with ‘unusual number’ of LAT appeals: Marshall
April 12, 2017 by Canadian UnderwriterNeither the behaviour of personal injury lawyers nor “excess profits” of insurers are to blame for high auto premiums in Ontario, but the government should consider restricting lawyers’ contingency fees, a special advisor to the provincial government suggested in a…
Hospital-based examination centres should provide Ontario auto accident treatment plans: Marshall
April 12, 2017 by Canadian UnderwriterOntario should not move to a government-run auto insurance system but the province should establish hospital-based examination centres with authority to establish treatment plans that would have to be provided by the insurers, without dispute, a special advisor to the…
LexisNexis Risk Solutions explores roadmap to “touchless” claims
March 22, 2017 by Canadian UnderwriterWhile some insurance carriers continue to favour traditional claims processes, the demand for faster cycle times, reduced expenses and improved customer satisfaction is driving increased automation and an eventual migration from virtual to “touchless claims,” according to a new report…
Government of Manitoba announces legislation to reduce red tape imposed on businesses, industry and local governments
March 20, 2017 by Canadian UnderwriterThe Government of Manitoba has announced proposed legislation that would reduce outdated, contradictory, complicated or ineffective regulatory requirements imposed on businesses, industry and local governments, provincial Finance Minister Cameron Friesen said last week. Friesen said in a statement that the…
U.S.-based DrivSafe launches mobile telematics app in Canada
March 7, 2017 by Canadian UnderwriterDrivSafe, a Boston, Mass.-based mobile telematics solutions company that specializes in telematics and analytics for the auto insurance industry, has announced the launch of its mobile app in Canada. The DrivSafe app helps auto insurance companies evaluate the driving habits…