The average Ontario auto insurance filing now takes less than two weeks to get approved, the provincial regulator told Canadian Underwriter. The Financial Services Regulatory Authority announced this past October a “file and use” system for private passenger auto. For…
Car shopping includes finding out how much insurance costs for one vehicle over the other and clients with a Mazda CX-3 will see the lowest insurance rates, according to a recent report. California-based online insurance quote aggregator site Insure.com annually…
Threats are being lobbed at auto insurers by an Ontario member of parliament who indicated that insurers not offering satisfactory relief measures could be called out and face repercussions. In the latest salvo from Ontario Finance Minister Rod Phillips —…
The COVID-19 pandemic has pushed broker to be more than just advisors of insurance coverage — they’re offering broader financial guidance and services to their clients. Meanwhile, the economic recession resulting from the pandemic shifted the carriers’ focus towards “operational…
VANCOUVER – A report commissioned by the B.C. government says insurance premiums for condominium buildings have increased by as much as 40 per cent year over year while deductible costs have tripled. Blair Morrison, chief executive officer of The B.C.…
If you fail to renew a client’s Ontario auto policy, even if that client missed a payment, you could attract close scrutiny from the provincial regulator. Ontario law prohibits insurers from declining to issue, terminating, or refusing to renew an…
Way back in 2020 Q1, before the world turned upside down, the Canadian property and casualty insurance results were on the rebound from a difficult prior year. But on Mar. 11, 2020, the World Health Organization declared the novel coronavirus…
If the more you drive means the likelier you are to have an auto claim, the same thinking could apply to home insurance claims, as people adhere to shelter-in-place guidelines during the COVID-19 pandemic, says a risk expert. If people…
If you think it is easy for clients to apply for tenant insurance, you might want to consider how much trivia those tenants actually know about the property they occupy. “Every insurance application has questions that aren’t user-friendly and they…
The social and economic impact of the novel coronavirus pandemic in 2020 is truly horrifying, saddening, and staggering. Many of us have lost loved ones, or know people who are out of work because of the potentially lethal virus moving…
Insurers paid out more $228 million in insured damage for spring flooding in Fort McMurray, Alta., that occurred a little over a month ago. Catastrophe Indices and Quantification Inc. (CatIQ) released the numbers this week, noting that commercial properties took…
Auto clients who think they are paying too much should consider telematics, the co-founder of LowestRates.ca suggests. With telematics, or usage-based insurance, the client normally installs an app on their smart phone or hardware into their vehicle diagnostic port, the…