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territorial rating

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News InsuranceMarkets / Coverages

IBC’s thoughts on Premier’s mission to end “unfair” postal code rating

July 8, 2022 by Alyssa DiSabatino

Ontario drivers may soon see the end of “unfair” rating of auto insurance policies based on postal codes, says Ontario Premier Doug Ford, and the Insurance Bureau of Canada agrees it may be time to modernize territorial rating.  “I know

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News InsuranceLegislation / RegulationMarkets / Coverages

What Intact’s CEO thinks of Ontario’s auto insurance budget

May 16, 2022 by Alyssa DiSabatino

Intact’s CEO Charles Brindamour said he is “quite thrilled” with some of the auto insurance reform measures contained in Ontario government’s proposed budget. Brindamour commented on the budget proposals for auto insurance reform during a Virtual Fireside Chat with RBC

Ontario NDP Leader Andrea Horwath speaks to the media before visiting communities across the GTA, as part of the 2022 Ontario election campaign trail, at Queen's Park in Toronto, on Wednesday, May 4, 2022. THE CANADIAN PRESS/ Tijana Martin
News InsuranceLegislation / RegulationMarkets / Coverages

Ontario Election: NDP plans to ban postal code rating for auto insurance

May 10, 2022 by Alyssa DiSabatino

Editor’s Note: The Conservative government outlined its plans for insurance in their budget document, released before the Ontario election, which will take place June 2. Canadian Underwriter is asking Ontario’s political parties for their platforms on insurance. We are printing

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News BrokersInsuranceMarkets / Coverages

Will Ontario’s budget proposals actually reduce auto rates?

May 4, 2022 by Alyssa DiSabatino

To reduce Ontario auto insurance rates substantially, fairer rating systems and offering usage-based insurance (UBI) may be most effective, says one industry observer. The Ontario government is proposing measures to reduce the cost of auto insurance. Among them, it is

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News InsuranceLegislation / Regulation

How Ontario plans to reform auto insurance

April 29, 2022 by David Gambrill

Ontario’s 2022 budget has a short paragraph dedicated to “reducing the cost of auto insurance,” including creating more choice for consumers, cracking down on auto insurance fraud and “enhancing fairness,” which would include new guidance on territorial rating. Exactly how

News InsuranceLegislation / Regulation

Legislature defeats bill quashing territorial ratings in Toronto area

November 5, 2018 by Greg Meckbach

If you have clients living in Brampton or near the intersection of Jane St. and Finch Ave., they will probably continue paying more for auto insurance than if they lived elsewhere in the Greater Toronto Area. A bill proposing to