Lower auto claims frequency may not translate into reduced claims severity: Intact CEO
May 13, 2020 by Greg MeckbachIf your auto client base is driving less because of the pandemic, then its claims costs should drop in proportion. Right? Not necesessarily, suggests the head of Canada’s largest auto insurer. Intact Financial Corp. looked at its database of driving…
What surprises Intact about recent driving habits
May 11, 2020 by Greg MeckbachCanada’s largest property and casualty carrier observed a 50% drop after the middle of March in the distance driven by its auto clients, but the insurer’s usage-based telematics data suggest driving has started to pick up in recent weeks at…
Does the winter tire discount make actuarial sense?
May 8, 2020 by Greg MeckbachWinter tires may reduce collision risk, but that doesn’t necessarily translate into a reduction in insured losses for every book of business — especially if the snow tires give motorists a false sense of security. Canada’s fifth-largest insurer recently looked…
Unica Insurance announces 15% COVID-19 Premium Relief Refund for Personal Automobile
April 24, 2020 Unica InsuranceMISSISSAUGA, ON, April 24, 2020/insPRESS/ Unica Insurance (Unica) is pleased to announce a one-time COVID-19 Premium Relief Refund for all Private Passenger Automobile policies as it continues to expand its package of COVID-19 relief options. The refund will be equivalent…
How COVID-19 is probably affecting your auto claimants
April 3, 2020 by Greg MeckbachThe precautions underway to reduce COVID-19 transmission risk appear to be having a direct impact on auto accident benefits claimants – and not in a good way. “We have people who are seriously and catastrophically injured who are in their…
Why it’s nearly impossible to figure out how profitable Ontario auto is
March 13, 2020 by Greg MeckbachYour Ontario auto clients have probably read media reports claiming they have been “over-paying” for years, but at the same time your markets are probably telling you they either lose money or barely break even on the product. So how…
Does home insurance cover road rage?
March 2, 2020 by Greg MeckbachIf a client is sued for alleged road rage in Ontario, is coverage for the legal defence the responsibility of the home insurer, auto insurer or both? This question could go to the Supreme Court of Canada if it agrees…
End of road for vehicle occupant sued for negligent parenting
February 18, 2020 by Greg MeckbachA defendant in a negligent parenting lawsuit cannot make a liability claim under the auto policy of the vehicle in which he and his daughter were riding as passengers. The Supreme Court of Canada announced Feb. 13 it will not…
What’s really behind Ontario auto rate increases
February 11, 2020 by Greg MeckbachAuto rates continue to climb in Ontario but the increase in frequency and severity of claims plays a big role, Insurance Bureau of Canada suggests. None of the 21 Ontario auto insurers who filed for rate changes during the last…
Appeal court overturns controversial ruling on auto coverage arising from overseas accident
February 7, 2020 by Greg MeckbachA controversial 2019 court ruling — in which the Alberta Court of Queen’s Bench found that a client struck by a motorcycle in the Philippines is covered by Alberta’s family protection endorsement — has been reversed on appeal. “The SEF…
Roadside licence suspensions for impaired drivers faces court challenge
January 15, 2020 by Greg MeckbachThe British Columbia law intended to immediately get impaired drivers off the road could be headed – yet again – to the Supreme Court of Canada. Canada’s top court announced Jan. 10 that Larry Edward Lemieux has applied for leave…
Could auto liability cover negligent parenting lawsuit?
January 13, 2020 by Greg MeckbachIf you allow your child to ride in a vehicle allegedly driven by an impaired driver, and your child sues you for negligent parenting, does the vehicle liability policy cover you? Not as it stands. But the question could be…