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News AssociationsInsuranceLegislation / RegulationMergers and Aqcuisitions

Ontario auto reforms should help cut transaction costs: Cameron

May 11, 2016 by Angela Stelmakowich

If things unfold as intended, Ontario’s auto insurance reforms should help reduce transaction costs that have long been an issue for the entire system, James Cameron, president of Cameron & Associates, suggested during an industry event Tuesday. “The goal of

News AssociationsInsuranceLegislation / Regulation

Ontario adjusters will need retraining on injury definitions as part of auto reforms taking effect in June: Walker

May 11, 2016 by Angela Stelmakowich

Insurance adjusters will likely need to be re-educated and retrained on new medical terminology when the latest batch of Ontario auto insurance reforms – which include a revised definition catastrophic impairment – comes into force June 1, Laurie Walker, president

Feature InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Function Test

May 1, 2016 Marc Smith, Principal, Forget Smith Morel

The criteria to obtain a catastrophic impairment designation, in Ontario, will be narrower as of June 1, as the Glasgow Coma Scale will be replaced with the Glasgow Outcome Scale.

Mandip Hullait, Director, Commercial Auto, RSA Canada
Feature Insurance

Adding Risk

May 1, 2016 Mandip Hullait, Director, Commercial Auto, RSA Canada

Modifications to commercial vehicles, especially involving the transportation of hazardous substances, can affect both safety and insurance coverage. When vehicles are carrying cargo such as fuel, fleet managers need to consider the risk of long-tail liability in the event of

Willie Handler, Consultant, Willie Handler and Associates
Feature InsuranceLegalLegislation / Regulation

LAT Have Mercy

May 1, 2016 Willie Handler, Consultant, Willie Handler & Associates

As of April 1, the Financial Services Commission of Ontario stopped accepting applications for mediation and arbitration of auto accident benefits insurance claims disputes. That responsibility now rests with the Licence Appeal Tribunal.

News InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Supreme Court of Canada will not hear ICBC appeal over $863K award arising from fatal collision

April 15, 2016 by Greg Meckbach

Canada’s highest court will not hear an appeal from Insurance Corporation of British Columbia, which was ordered to indemnify the estate of a passenger who caused an accident by grabbing the steering wheel of a vehicle. The Supreme Court of

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC

April 6, 2016 by Angela Stelmakowich

Despite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Global insurance telematics market expected to grow to US$2.21 billion in 2020 from US$857.2 million in 2015

April 5, 2016 by Canadian Underwriter

The global insurance telematics market size is expected to grow from US$857.2 million in 2015 to US$2.21 billion in 2020, at a compound annual growth rate (CAGR) of 20.9%, according to a report by ReportLinker, a market research technology company

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Auto insurers face long-term challenges from self-driving cars; avoidance technologies to benefit insurers: Moody’s

March 29, 2016 by Canadian Underwriter

Self-driving cars could translate into significantly lower premiums and profits in the long-term for auto insurers as the number of accidents declines dramatically, Moody’s Investors Service said on Tuesday. A new report from Moody’s – titled P&C Insurance – Global:

Feature

Rock and a Hard Place

March 1, 2016 The CIP Society Insurance Institute of Canada

Adjusters are required to juggle multiple tasks. But a busy environment, demanding workload and unexpected meetings should not influence interactions with clients. As the first points of customer contact, adjusters must maintain a professional demeanour by listening, showing empathy and putting clients at ease.