Where auto insurers are seeing the biggest profitability improvements
September 17, 2021 by Greg MeckbachCanadian auto insurers saw both an increase in auto premiums and an improvement in their loss ratios in 2020, according to research from A.M. Best Company Inc. “Less miles driven translates into less frequency in auto losses,” A.M. Best director…
Will Intact re-enter the B.C. auto market?
August 9, 2021 by Greg MeckbachIntact Insurance could re-enter the British Columbia auto market but only if the provincial government provides “options and convenience” to motorists, says Intact Financial Corp. CEO Charles Brindamour. It has been eight months since Intact announced it is leaving the…
Appeal court upholds $385,000 payment to Northbridge arising from accident benefits assignment
June 28, 2021 by Greg MeckbachThe Court of Appeal for Ontario recently ruled in favour of Northbridge Insurance in an auto liability claim that featured a dispute over how much of the plaintiff’s accident benefits should go to the liability insurer. Kossay El-Khodr was rear-ended…
A plaintiff suffered a concussion a year before the accident – how this should affect loss of income award
June 17, 2021 by Greg MeckbachThe Court of Appeal for British Columbia has doubled a tort award, for loss of future earning capacity, for a motor vehicle accident victim who had suffered several concussions before he badly injured his head in a rear-end collision. On…
How Intact views auto claims severity during pandemic
May 14, 2021 by Greg MeckbachThe long-tail nature of motor vehicle liability and auto accident benefits claims means a temporary drop in total miles driven due to the pandemic does not necessarily equate to a corresponding drop in premiums for your clients, Intact executives suggest.…
The ‘unfair advantages’ in commercial auto
April 13, 2021 by Greg MeckbachNew commercial auto clients may suffer an unfair disadvantage if they operate small truck fleets, an Ontario broker suggests. In Ontario, individual truck drivers who decide to start their own trucking firm may have no option but to have their…
Why mom is not liable for son’s traffic collision driving mom’s car
April 12, 2021 by Greg MeckbachWhen a parent says no to a child who wants to drive the car, and the parent does not leave the keys out in the open to be easily found, the child does not in fact have the parent’s consent…
Why Intact says an upward correction in auto rates could be imminent
April 1, 2021 by Greg MeckbachMotorists could be hit with more premium increases once driving levels return to pre-pandemic levels, Intact Financial Corp. CEO Charles Brindamour suggests. During the early part of 2020, Canada’s auto insurers had a collective combined ratio in auto more than…
Why more auto insurers may opt for UBI
March 30, 2021 by Greg MeckbachOntario motorists can expect to see more insurers offering telematics now that the province is allowing carriers to impose surcharges on risky drivers. “The bottom line is that insurance companies always want to find the right price for a risk…
Aviva reacts to new Ontario towing restrictions
March 3, 2021 by Greg MeckbachAviva Canada is supporting new provincial towing restrictions on some Toronto area provincial expressways. On some sections of road, a single towing company will be contracted to remove private passenger vehicles that need to be towed, the Ontario government announced…
February auto sales down 10% from year ago due to lockdowns and supply chain disruptions
March 3, 2021 The Canadian PressTORONTO – Canadian auto sales in February were down nearly 10 per cent compared with February 2020, the last full month before the lockdowns began due to the COVID-19 pandemic. According to estimates compiled by DesRosiers Automotive Consultants auto sales…
Intact CEO’s forecast for auto rate relief in 2021
February 24, 2021 by Greg MeckbachIt could be up to a year before driving habits return to normal, but don’t expect many of your clients to pay less for auto insurance. Those were a couple of key takeaways from a recent Intact earnings call. “It…