Keyword
premiums
Car insurance premiums in the U.K. up 19% year-over-year, new study finds
July 11, 2016 by Canadian UnderwriterMotorists in the United Kingdom are facing the biggest annual price hikes in car insurance premiums in five years, with prices rising by £115 over the last 12 months, according to the latest Confused.com Car Insurance Price Index, powered by…
Manitoba Public Insurance seeks 2% basic auto rate increase after “unprecedented” claims payouts
June 17, 2016 by Canadian UnderwriterManitoba Public Insurance (MPI) said on Friday that it has asked the Public Utilities Board for a 2% increase to Basic Autopac rates, citing an “unprecedented” year for comprehensive (non-collision) claims payouts. Basic Autopac is an all-perils coverage that insures…
Only 10% of Ontario drivers report being “very knowledgeable” about elements of a standard auto insurance policy: FSCO-commissioned survey
June 15, 2016 by Canadian UnderwriterOnly 10% of Ontario’s nearly 10 million drivers report that they are “very knowledgeable” about the elements in a standard auto insurance policy, according to a recent survey commissioned by the Financial Services Commission of Ontario (FSCO). The survey, released…
Almost 70% of polled Canadians believe home security increases home value
May 19, 2016 by Angela StelmakowichResults of a national poll issued Thursday indicate that 69% of surveyed Canadians believe that home security systems add value to their homes. Despite that belief, though, almost 40% of respondents were unaware that having a home security system reduces…
Driverless cars could have significant credit impact across range of sectors, Moody’s report says
May 17, 2016 by Canadian UnderwriterDriverless cars could have significant credit implications across a wide range of sectors and companies as the technology becomes more advanced and widespread in the coming years, Moody’s Investors Service said in a report released on Tuesday. Although the extensive…
Reduced auto insurance accident benefits could influence balance between attendant care, treatment: lawyer
May 12, 2016 Angela Stelmakowich, EditorThe reduced accident benefits under Ontario’s auto reforms may prove a shock to drivers with non-catastrophic injuries, but perhaps should also elicit concern over the potential for treatment to come second to attendant care, suggests Daniel Strigberger, a lawyer with…
Premiums earned up 4%, catastrophe losses up 181% at Allstate
May 9, 2016 by Canadian UnderwriterFirst-quarter underwriting income dropped about 73% year-over-year for The Allstate Corp. in the wake of two large hailstorms in late March in the southern United States. The Northbrook, Ill.-based insurer reported May 4 that catastrophe losses were $827 million during…
Insurance Institute of Canada issues “call to action” on driverless vehicles
May 5, 2016 by Canadian UnderwriterClear determination of responsibility is essential to ensuring effective insurance coverage of driverless vehicles, but the “next 10 years may have less clarity about responsibility than the past 40 or 50 years,” according to a new report released on Thursday…
Autonomous vehicles will have “whole host of impacts” on municipalities: Insurance Telematics Canada speaker
May 3, 2016 Greg Meckbach, Associate EditorAutonomous vehicles will “shrink” the auto insurance industry but could also increase liability risk for municipalities, speakers suggested at a recent conference in Toronto. “Over time, this is going to transform mobility and what cities look like,” said Stephen Buckley,…
Marine, surety insurance policies among those exempt from Newfoundland and Labrador’s 15% retail sales tax on P&C premiums
May 2, 2016 by Canadian UnderwriterInsurance policies for marine, surety, guarantee or fidelity-type bonds, accident and sickness, and life will be exempt from Newfoundland and Labrador’s 15% retail sales tax (RST) on property and casualty insurance premiums, the Insurance Bureau of Canada (IBC) said on…
Wind, hail storms in Texas contribute to $318m in Q1 catastrophe losses for Travelers
April 26, 2016 by Canadian UnderwriterThe Travelers Companies Inc. reported catastrophe losses of $318 million during the three months ending March 31, up 96% from $162 million during the same period in 2015, while Q1 earned premiums in personal insurance rose 6.2% year-over year. All…
Ontario auto insurance rates drop, but still short of August 2015 target
April 25, 2016 The Canadian PressTORONTO – Auto insurance rates in Ontario have dropped about 10 per cent on average in the past couple of years, putting the Liberal government two-thirds of the way to a goal that passed eight months ago. The Liberals promised…