Keyword
rate cap
Intact CEO’s take on fear of auto rate cap contagion
February 23, 2024 by David GambrillIntact CEO Charles Brindamour does not anticipate Alberta’s auto rate cap will bleed over into Ontario’s private auto insurance sector. “There’s always a risk,” Brindamour told Mario Mendonca, managing director of equity research at TD Cowen, during a fireside chat…
Alberta latest rate cap is underway: but what’s next for reform?
February 2, 2024 by Alyssa DiSabatinoAs Canada’s auto insurers await direction from the Alberta government on the province’s long-term reform solutions for auto insurance, industry advocates have suggested short-term options to the auto product. The Alberta government announced last fall it would be retaining the auto…
McDougall’s Drayden Insurance acquires Alberta brokerage
January 3, 2024 by Jason ContantAlberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
Alberta UCP announces auto rate freeze
January 26, 2023 by Alyssa DiSabatinoAlberta’s United Conservative Party announced today an auto insurance rate freeze until the end of 2023, and insurer and broker associations alike are calling this decision “disappointing” and “not the best option” for consumers. The government is also requiring insurance…
What the Alberta NDP’s auto rate freeze would mean for insureds and insurers
January 11, 2023 by Alyssa DiSabatinoAlberta brokers and insurers believe a New Democratic Party proposal to freeze auto insurance rates won’t solely reduce auto premiums and will instead make it harder for drivers to obtain coverage, auto insurance experts tell Canadian Underwriter. A better solution…
Post-Kenney, will the auto rate cap return after the next AB election?
June 27, 2022 by Jason ContantOutgoing Alberta Premier Jason Kenney’s announcement last month that he will step down following a leadership review is raising concerns among brokers in the province about the possibility of another auto insurance rate cap. In 2017, Alberta’s NDP government under…
Will Alberta move to a pure no-fault auto insurance system?
November 23, 2020 by Jason ContantAn Alberta auto insurance advisory committee has recommended the province move to a pure no-fault system delivered by private insurers, a change that the Insurance Bureau of Canada (IBC) does not feel would be in the best interest of drivers.…