Telematics surcharges arrive for Ontario auto
February 5, 2021 by Greg MeckbachOntario motorists who choose usage-based insurance could now be hit with surcharges if telematics data shows they have risky driving behaviour. The Financial Services Regulatory Authority (FSRA) removed its UBI Guidance this past November, a FRSA spokesperson told Canadian Underwriter…
Telematics: Who’s jumping into the pool and who’s watching from the deck
January 28, 2021 by Greg MeckbachAuto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance…
When GAP insurance is an ‘easy profit maker’ for auto dealer
January 21, 2021 by Greg MeckbachGuaranteed Asset Protection is one way for automotive dealers to make money from consumers who make large down payments on their new vehicles, an automotive columnist suggests. GAP insurance is intended to protect consumers who borrow money to buy their…
How family protection endorsement works when multiple tortfeasors liable
December 16, 2020 by Greg MeckbachA Court of Appeal for Ontario ruling that reduced an Ontario auto insurer’s liability by more than $500,000 is now final. The Supreme Court of Canada announced Dec. 10 it will not hear an appeal from Gregory Tuffnail, who was…
What Ontario’s auto dealer overseer says about GAP insurance
November 26, 2020 by Greg MeckbachGuarantee asset protection, or GAP insurance, can address the risk of a consumer having negative equity as a result of borrowing money to buy a car, suggests the head of the organization that regulates Ontario’s motor vehicle dealers. GAP is…
Which insurer has to pay if garage loaner vehicle causes an accident
November 20, 2020 by Greg MeckbachWhen the driver of a loaner vehicle provided by an auto service centre is sued by an accident victim in Alberta, the insurer of the loaner vehicle may be the first payor. This is what happened when Northwest Acura in…
Intact has ‘lost hope’ in this market
November 6, 2020 by Greg MeckbachIntact Insurance could potentially re-enter the British Columbia auto market, but not if it is restricted to offering only optional coverages while competing against a government monopoly, CEO Charles Brindamour said this past Tuesday. During an earnings call, Intact Financial…
New CEO for Manitoba government auto insurer
November 4, 2020 by Greg MeckbachManitoba Public Insurance has hired Eric Herbelin, a former senior strategist for Zurich Insurance, as its new CEO, effective Jan. 4. Herbelin worked in Switzerland for Zurich from 2001 through 2016, according to his LinkedIn profile. MPI announced Herbelin’s appointment…
5th Top Story in 2020: Intact to exit this line of business
October 28, 2020 by Jason ContantCanada’s largest insurer announced late Tuesday that its brands Intact Insurance and belairdirect will no longer offer optional auto coverage in British Columbia. “This decision was taken after careful consideration, given the upcoming regulatory changes in the province that will…
Why B.C. brokers are not rallying behind Liberal auto insurance election promise
October 7, 2020 by Greg MeckbachBritish Columbia’s Liberal party, which ruled the province from 2001 through 2017, is promising to open auto insurance up to competition if voters return the Liberals to power in the Oct. 24 election. “The ICBC monopoly is a failure and…
Why insurers incurred penalties for over-charging Alberta auto clients
October 2, 2020 by Greg MeckbachProgramming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to…
Mud + snow tires count as winter tires: Tribunal
September 28, 2020 by Greg MeckbachBritish Columbia’s civil resolution tribunal has ruled against a motorist who claims the car he rented did not have proper winter tires because they were marked “mud + snow,” but the motorist is not liable for alleged damage to the…