Keyword
personal auto
Grand Theft Auto: P&C industry sounds the alarm
October 11, 2023 by David GambrillAuto theft costs in 2023 are projecting to break record levels established in 2022, P&C insurance professionals are warning. A recent survey by Équité Association shows auto theft in Ontario increased by 31% year-over-year in the first half of 2023.…
Is FSRA planning to license aggregators?
October 6, 2023 Philip PoradoOntario’s insurance regulator has confirmed it is considering whether or not aggregators need to be licensed. Since August, when Ontario’s financial services regulator issued a report outlining concerns about auto insurers’ compliance with take-all-comers requirements, Canada’s P&C insurance industry has…
How auto insurance will navigate a world with self-driving cars
October 4, 2023 Tim Crljenica, Thomas Gold Pettingill LLPSelf-driving cars have been a part of visions of the future for decades, and what was once only imaginary has started to become reality. Not only do self-driving cars exist, but five U.S. states (Arizona, California, Michigan, New Hampshire and…
What insurers pay to repair EVs
September 11, 2023 by David GambrillAlthough electric vehicles in Canada cost an average of $1,328 more to repair than vehicles with internal combustion engines (ICE), EVs are less likely to be written off as a total loss, says a Mitchell report. The cost of the…
How potholes lead to serious brain injuries for e-scooter riders
September 8, 2023 Brittany Sinclair, B.Sc., P.Eng. 30 Forensic EngineeringEditor’s note: This is the second of a two-part series on the biomechanics of rider falls from e-scooters. Part 1 appeared Aug. 25. Road safety is directly linked to maintenance standards. In Ottawa, the city’s recommended maintenance quality standard…
What carriers are offering auto customers seeking lower premiums
September 1, 2023 Philip PoradoCar thefts are way up in Canada and that’s got the attention of property and casualty (P&C) insurers. Thefts have risen particularly fast in the greater Toronto area, Montreal and some other parts of Quebec, noted Paul Gilbody, SVP operations…
Risks of EV battery repair
August 23, 2023 by David GambrillCanadian Collision repair shops and their insurance partners should be investing in training and education to safely repair defective or damaged electrical vehicle (EV) batteries over the next three to five years, attendees heard at Collision Repair magazine’s EV Repair…
Digital-first firms partner on car-share coverage
August 17, 2023 Canadian Underwriter StaffDigital auto and home insurance provider Onlia has partnered with car-subscription service Roam to provide its Ontario customers with personalized rates and a faster checkout when picking up cars. In addition to vehicles, Roam’s pay-as-you-go subscriber plan members are provided…
What’s trending in auto loss combined ratios
August 16, 2023 Philip PoradoSome 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…
Insurer introduces new auto rating variable for oft-stolen cars
July 20, 2023 by David GambrillWith Canada’s property and casualty industry facing a record number of auto theft claims, insurers have introduced a variety of incentives and disincentives to encourage drivers to take theft-prevention measures — and now it’s showing up in a new ‘High…
What’s to blame for distracted driving trends?
July 14, 2023 Philip PoradoBrokers hear lots of stories about minor fender-benders that don’t lead to injuries. And some could even be seen as amusing – if they weren’t linked to financial losses for insurers. “We had an incident where someone was trying to…
Why auto insurers are more likely to declare cars totalled
July 7, 2023 Philip PoradoIs 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…