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‘Lots of people don’t like telematics,’ insurer reports

December 14, 2017 Greg Meckbach, Associate Editor

Opportunities for “broker-driven” usage-based auto insurance are likely to be down the road, but brokers are telling a large Canadian mutual that their insurance customers don’t want their insurers monitoring how they use their vehicles. “Our brokers are advising us

News Insurance

Does a winter tire discount get drivers to install winter tires?

December 11, 2017 Greg Meckbach, Associate Editor

Ontario’s mandatory auto insurance discount for winter tires has not been in place long enough to figure out whether it reduces insured losses, but one safety expert compares winter tire skeptics to flat-earthers. The Financial Services Commission of Ontario (FSCO)

News InsuranceMarkets / Coverages

Ontario motorcycle crash injuries twice as costly to treat as auto injuries: study

November 20, 2017 Peter Cameron - THE CANADIAN PRESS

TORONTO – Motorcyclists in Ontario are three times more likely to be injured in a collision than people in automobiles, 10 times more likely to suffer serious injuries and those injuries will cost more to treat, a new study suggests.

News InsuranceLegalMarkets / Coverages

Judge denies separate housework award in auto injury lawsuit

November 15, 2017 by Canadian Underwriter

A claim for interference with homemaking capability “must be scrutinized carefully” in an auto personal injury lawsuit, a British Columbia judge suggested in a recent ruling that cites an earlier Court of Appeal for Ontario ruling. In a ruling released

News Earnings / RatingsInsurance

Intact’s combined ratio improves 5.2 points but personal auto has $31M in unfavourable prior-year development

November 8, 2017 by Canadian Underwriter

Intact Financial Corp.’s personal auto results were “disappointing” during the three months ending Sept. 30, chief executive officer Charles Brindamour said Tuesday in press release, but the Toronto-based insurer reported that across all lines, underwriting income more than doubled from

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Echelon Insurance reports near halving of net income in 2017 Q3 compared to 2016 Q3

November 3, 2017 by Canadian Underwriter

The B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to

News ClaimsInsuranceMarkets / Coverages

Marshall gives his take on the ‘real problem’ with auto catastrophic impairment coverage

October 30, 2017 Greg Meckbach

The Ontario auto insurance system needs to do more for claimants who are catastrophically injured and not rely so much on “competing opinions” among medical practitioners, a former chief executive officer of the workers compensation system suggested to brokers recently.

News InsuranceLegislation / RegulationMarkets / Coverages

Ont. auto accident benefits shouldn’t entail ‘arguing about what care is appropriate each and every time’

October 25, 2017 Greg Meckbach, Associate Editor

Addressing the problems of both Ontario’s auto insurance and workers compensation systems calls for packages of care that work for most injured people and not for cash settlements, the former chief executive officer of the Workplace Safety Insurance Board suggested

News InsuranceMarkets / CoveragesReinsurance

Economic and market headwinds may challenge profitable growth for U.S. insurers: Guy Carpenter

October 18, 2017 by Canadian Underwriter

While the insurance industry in the United States is well-capitalized and market sentiment is mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, a new report from Guy Carpenter has suggested. In the

News AnnouncementsAppointmentsInsuranceMergers and AqcuisitionsTechnology

Octo Telematics to acquire Willis Towers Watson’s UBI assets; firms to partner on insurance-related products

October 12, 2017 by Canadian Underwriter

Octo Telematics and Willis Towers Watson (WTW) have reached an agreement in which the former will acquire the latter’s usage-based insurance (UBI) assets, setting the stage for the two companies to work together on more auto telematics opportunities. Leveraging Octo’s

News InsuranceMarkets / CoveragesTechnology

Canadian auto industry seeing no reduction in accidents, but greater severity: NICC speaker

October 11, 2017 Jason Contant, Online Editor

The Canadian auto industry overall is seeing no reduction in car accidents and “big cost pressures upward on severity coming from both injuries and the repairs of cars themselves,” a speaker suggested last week at the National Insurance Conference of