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Is Ontario about to see electronic pink slips?

May 3, 2019 by Jason Contant

Is electronic proof of auto insurance (EPAI) just around the corner in Ontario? Industry scuttlebutt is that the new Financial Services Regulatory Authority of Ontario (FSRA) will allow the use of EPAI this summer, possibly as early as June. Canadian

News InsuranceLegislation / Regulation

Regulation suppressing required auto insurance rate increases

September 6, 2018 by Greg Meckbach

Some Canadian auto insurers would hike rates even further if provincial bureaucrats would let them, a New Jersey-based analyst said Wednesday at A.M. Best’s 2018 Insurance Market Briefing-Canada in Toronto. In a recent report, A.M. Best Company Inc. warned of

News InsuranceTechnology

Ontario Election 2018: Trailing Liberals promise auto insurance discounts

June 4, 2018 by Greg Meckbach

Polls show the Ontario Liberals will not likely govern the province after the election this Thursday but, for what it’s worth, a vote for Liberal candidates is a vote for insurance discounts for motorists who use apps intended to discourage

News Earnings / RatingsInsuranceMarkets / Coverages

Ontario auto insurance rates up in first quarter of 2018

April 16, 2018 The Canadian Press

TORONTO – Auto insurance rates in Ontario increased in the first quarter of 2018, putting the Liberal government further away from its promise to cut rates by 15 per cent. The numbers released Friday by the Financial Services Commission of

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

How red tape is bringing telematics to a standstill

February 14, 2018 by Jason Contant

Restrictions imposed on how insurers price usage-based insurance pricing (UBIP) are hampering innovation in the insurance industry, the Insurance Bureau of Canada (IBC) told Canadian Underwriter Monday. Canadian Underwriter asked IBC on Monday for examples of red tape that could

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Why are electronic pink slips being held up in Ontario?

February 8, 2018 by Jason Contant

Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still examining some of the complexities surrounding electronic proof of auto insurance (EPAI) before approving their use in the province, offering no timetable to launch EPAI in Ontario. “As

News InsuranceLegislation / RegulationMarkets / Coverages

Electronic pink slips remain elusive in Ontario

January 26, 2018 by Jason Contant

Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still working towards allowing electronic proof of automobile insurance (EPAI) in the country’s most populous province, but a launch date is still to be determined, a FSCO spokesperson told

News InsuranceMarkets / CoveragesTechnology

Two reasons why Ontario approved increased auto rates

January 19, 2018 by Jason Contant

Increased vehicle technology and elevated auto loss ratios are among the factors contributing to rate increases in Ontario auto, Joel Baker, president and CEO of MSA Research, told Canadian Underwriter on Thursday. “The industry is being challenged by elevated auto

News Earnings / RatingsInsuranceMarkets / CoveragesTechnology

Ontario auto insurance rates increased in last quarter of 2017

January 12, 2018 Allison Jones - THE CANADIAN PRESS

TORONTO – Auto insurance rates in Ontario increased in the last quarter of 2017, putting the Liberal government further away from its promise to cut rates by 15 per cent. Fourth quarter numbers released today by the Financial Services Commission

News ClaimsInsuranceLegalMarkets / CoveragesProducts

Regulator weighs in on disputed ridesharing claims

December 20, 2017 David Gambrill, Editor-in-Chief

Disputes among Ontario auto insurers, arising from collisions involving vehicles used for multiple ridesharing providers, will likely be handled in the same way insurers handle priority disputes in accident benefits claims, Ontario’s insurance regulator told Canadian Underwriter Wednesday. Aviva Canada

News Earnings / RatingsInsuranceMarkets / Coverages

Politicians at odds with industry over territorial rating

December 18, 2017 by Canadian Underwriter

Using postal codes to determine auto insurance rates could come to an end if the Progressive Conservatives win the next Ontario election. “Geographic discrimination should be eliminated while not raising rates on other parts of the province,” a spokesperson for

News InsuranceMarkets / CoveragesProductsTechnology

Regulator challenges rosy telematics picture

December 2, 2017 Greg Meckbach, Associate Editor

Canadian auto insurers have been using telematics to gather data on driving behaviour for years, with one insurer having billions of miles’ worth of data, but it remains debatable whether pay-as-you-drive technology actually reduces insured losses. Claims costs “could conceivably