Some Canadian auto insurers may be experiencing fewer losses than their U.S. counterparts, a new report from ratings agency Fitch suggested. A mid-year review of U.S. personal auto segment results, based on filings for nine public company insurers that report…
Aviva Canada’s 2023 half-year results in personal lines are a mixed bag, with strong results on the personal property side, but the insurer is taking initiative to shore up its personal auto results. Overall, the company reported half-year growth of…
Is that car worth repairing? Given ongoing supply chain disruption and high inflation rates, the answer for insurers may increasingly be ‘no.’ “We see significant increases in rental costs,” said Kumar Siva, senior vice president for third party administration services…
Personal lines in Canada’s property and casualty insurance industry still show signs of the hard market, with both personal auto and property showing mid single-digit rate increases at year-end 2022, a new report said. Overall, premium rate changes increased for…
A multiple-vehicle owner who failed to add a motorcycle to his insurance within a set time period is precluded from receiving benefits following an accident, said a Feb. 6 decision by Ontario’s Licence Appeal Tribunal (LAT) adjudicator Stephanie Kepman. On…
The ‘claims holiday’ auto insurers enjoyed the last couple of years is coming to an end. Auto physical damage losses in some provinces are elevated despite fewer collisions, according to a new report from Navacord brokerage Lloyd Sadd. Insurers’ auto…
Canadian auto parts makers say the supply picture is improving and helping boost their bottom line, but disruptions continue to weigh on operations and profits. Magna International Inc. said Friday the picture has improved significantly from last year as global…
TORONTO – DesRosiers Automotive Consultants says Canadian auto sales were down 16.2 per cent in July compared with a year earlier because of a shortage of available vehicles. The consultancy estimates 130,480 new light vehicles sold in the month as…
TORONTO – DesRosiers Automotive Consultants says Canada produced just over 1.1 million light vehicles last year for the lowest level of production since 1967. The low production numbers, down from 1.4 million in 2020 and close to two million in…
A negligence lawsuit against a plaintiff’s lawyer by an Ontario claimant who was injured in a 1982 motor vehicle accident has been thrown out of court. The claimant settled his accident benefits and tort claims in 1999, when he was…
Amendments to Alberta’s Standard Auto Policy Form No. 1 will enable direct compensation for property damage (DCPD) for certain kinds of automobile property damage claims, starting January 1, 2022. The amendments were approved by Alberta’s Superintendent of Insurance. Sharon Stefanyk,…
Two years after flagging the issue, Ontario’s auditor general says the transportation ministry has made “little to no progress” in mandating formal training for drivers of all large commercial vehicles. In Ontario, Class A licensed commercial operators need a formal…