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Car wrecked by a tornado.
News CatastrophesClaimsInsuranceMarkets / Coverages

What’s trending in auto loss combined ratios

August 16, 2023 Philip Porado

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

Paper Family with Car and House
News ClaimsClimate ChangeEarnings / RatingsInsurance

Aviva Canada’s first-half experience in personal lines

August 16, 2023 by David Gambrill

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

Smaller accidents are increasingly likely to lead to cars being totalled out.
News ClaimsInsuranceMarkets / Coverages

Why auto insurers are more likely to declare cars totalled

July 7, 2023 Philip Porado

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

Home with a car parked in the driveway.
News BrokersInsuranceMarkets / Coverages

How personal lines are shaping up heading into 2023

March 13, 2023 by Alyssa DiSabatino

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

Motorbike accident
News ClaimsInsuranceLegal

Failure to tell an insurer about a new vehicle can mean trouble

February 16, 2023 Philip Porado

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

Mechanic spot welding a car part at auto garage
News BrokersClaimsInsuranceMarkets / CoveragesTechnology

Why ‘claims holiday’ is coming to an end for auto insurers

December 1, 2022 by Jason Contant

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

Car bodies on an assembly line factory
News InsuranceTechnology

Auto parts producers see supply chains improving but shutdowns still weigh

November 8, 2022 Ian Bickis - THE CANADIAN PRESS

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

New car inventory in parking lot
News Insurance

July auto sales in Canada down 16% from last year as shortages persist

August 5, 2022 The Canadian Press

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

Auto production line in manufacturing plant
News Insurance

DesRosiers says Canadian auto production last year hit lowest level since 1967

January 27, 2022 The Canadian Press

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

News ClaimsClaims CanadaLegal

Lawsuit arising from 1982 vehicle accident dismissed in 2021

December 20, 2021 by Greg Meckbach

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

News Insurance

Direct compensation for property damage coming to Alberta

December 13, 2021 Canadian Underwriter Staff

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,

News ClaimsClaims CanadaRisk

Ontario clients can operate these large trucks with no formal course

December 8, 2021 by Greg Meckbach

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