Keyword
auto insurance
Claims settlement a particularly “fuzzy concept” for Quebec drivers, new poll suggests
June 21, 2016 by Canadian UnderwriterLess 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…
Saskatchewan government introduces more than 20 amendments to auto insurance program
June 15, 2016 by Canadian UnderwriterThe 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…
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 UnderwriterOnly 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…
Switching Gears
June 1, 2016 Valerie Monet, Director, Insurance Practice, J.D. PowerCustomer 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?
Only 42% of polled Ontarians aware of upcoming auto insurance reforms: IBAO
May 25, 2016 by Canadian UnderwriterConsumer 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…
Court rules against ICBC in disability benefits dispute
May 24, 2016 by Canadian UnderwriterThe 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…
Insurance websites not keeping pace with changing customer expectations: J.D. Power
May 19, 2016 by Canadian UnderwriterInsurer 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…
UberX drivers expected to have commercial insurance: Shop Insurance Canada
May 19, 2016 by Canadian UnderwriterUberX drivers using personal policies while operating as a paid ride-share operative are breaking the law and need to check with their insurance providers to ensure they have appropriate coverage, suggests Shop Insurance Canada. “If a vehicle is used for…
Reduced auto insurance accident benefits could influence balance between attendant care, treatment: lawyer
May 12, 2016 Angela Stelmakowich, EditorThe reduced accident benefits under Ontario’s auto reforms may prove a shock to drivers with non-catastrophic injuries, but perhaps should also elicit concern over the potential for treatment to come second to attendant care, suggests Daniel Strigberger, a lawyer with…
Usage-based insurance expected to grow to 142 million subscribers globally by 2023 from 12 million in 2015, new report says
May 9, 2016 by Canadian UnderwriterUsage-based auto insurance (UBI) is expected to grow to 142 million subscribers globally by 2023, according to a new report from IHS Automotive, a part of IHS, Inc. and a source of information and insight to the global automotive industry.…
Echelon Financial Holdings’ net loss rises to $4.5 million in 2016 Q1, dividend suspended, strategy is to build on Canada’s strengths
May 5, 2016 by Canadian UnderwriterChallenges in Echelon Financial Holdings Inc.’s International business overshadowed solid Canadian profits, contributing to the company reporting a net loss in 2016 Q1 compared to the prior-year quarter. Net loss for the three months ended Mar. 31, 2016 amounted to…
U.S. insurers that lead in digital shopping channels also lead in premium growth: J.D. Power study
May 3, 2016 by Canadian UnderwriterInsurers that lead in digital shopping channels also lead in premium growth, according to the J.D. Power 2016 U.S. Insurance Shopping Study, released on Friday. Now in its 10th year, the study measures auto insurance shopping, purchase behavior and purchase…