Ontario auto changes could be ‘slow to implement’
September 12, 2019 by Greg MeckbachOntario may have a new auto insurance regulator, but don’t expect conditions in that market to improve overnight, A.M. Best Company Inc. suggested in a report released Thursday. “Measures to improve market and competitive conditions will likely be slow to…
The place where insurers are seeking double-digit auto rate increases
September 10, 2019 by Greg MeckbachAuto insurers asking for double-digit increases from New Brunswick’s regulator could face some hard questions during hearings this fall. “Some of the companies have been asking for a big increase” and will not necessarily be approved for the increases they…
Now that Alberta’s cap is gone, what next?
September 4, 2019 by Greg MeckbachGiving Alberta’s auto insurance regulator discretion in allowing rate increases of over 5% is good news for the industry, but more needs to be done to address claims costs, the Insurance Bureau of Canada warns. In 2017, the province’s regulator…
Tesla Autopilot let driver rely too much on automation: Investigator
September 4, 2019 Tom Krisher - THE ASSOCIATED PRESSDETROIT – A government investigation has found that a design flaw in Tesla’s Autopilot semi-autonomous driving system and driver inattention combined to cause a Model S electric car to slam into a firetruck parked along a California freeway. The National…
Alberta axes 5% cap on auto rate hikes
September 3, 2019 by Greg MeckbachThe 5% ceiling on Alberta auto rate increases is history, but that does not mean the sky is the limit. “Allowing [the 5%] limitation to expire is necessary to ensure a sustainable industry that can best serve the needs of…
Watch out for these ‘nefarious’ ways of eating brokers’ lunch
August 28, 2019 by Greg MeckbachBrokers could be in for a nasty surprise if the concept of bundling auto insurance with vehicle lease or purchases catches on in Canada, a Symposium West speaker warned last week. An auto manufacturer is “not a traditional competitor” in…
Insurers spar after passenger grabs steering wheel, causing accident
August 22, 2019 by Greg MeckbachShould a motorist be liable if a front-seat passenger deliberately grabbed the wheel and took control, causing an accident? Insurers debate this, but judges say a client in this situation should not be liable. In McKay v. Park, released Monday,…
These auto clients will no longer get a break for driving experience
August 21, 2019 by Greg MeckbachFor motorists whose driving experience is in a country other than Canada and the United States, one major insurer’s underwriting rules are about to change in one province. Nova Scotia’s auto insurance regulator recently gave The Personal Insurance Company permission…
Which province will allow digital pink cards next?
August 6, 2019 by Adam MalikIf George Hodgson’s crystal ball is working as well as he hopes, it may not be too long until Alberta drivers will be able to use digital insurance pink cards. The chief executive officer of the Insurance Brokers Association of…
How old Ontario auto cat claims affect Intact’s bottom line
July 31, 2019 by Greg MeckbachCanada’s largest P&C insurer has been taken by surprise by the number of old Ontario auto claims in which accident victims are trying to get benefits for catastrophic impairment. Ontario changed its catastrophic impairment definition for accidents occurring on or…
Allstate ponders appeal in $700,000 lawsuit over Brampton auto insurance allegations
July 30, 2019 by Greg MeckbachAllstate officials are considering appealing last week’s Ontario court judgement that rejected the company’s $700,000 counter-suit against a former employee. “Our legal counsel is reviewing the decision and we will decide whether to appeal in the next few weeks,” Angie…
How SGI’s expansion into Ontario auto fared last year
July 12, 2019 by Greg MeckbachSaskatchewan’s government-owned insurer has been blindsided by its Ontario auto line. Regina-based Saskatchewan Government Insurance (SGI) reported Tuesday that SGI Canada’s 2018-19 loss ratio in Ontario was 91.9%, up 16.5 points from 75.4% in 2017-18. That increase was “largely due…