MPI tracks cars stolen multiple times
January 6, 2003 by Canadian UnderwriterA new study from Manitoba Public Insurance (MPI) shows that one car in that province was either stolen or had a theft attempt made on it six times in the past two years. The finding was part of a study…
Smash! Birth of the Ace
January 1, 2003 Sam Malatesta, vice president of marketing & insurance relationsBoth insurers and their collision repair partners are facing difficult times, with costs rising and marketshare scarce. Consolidation in either industry has not brought about the kind of cost efficiency dreamed of. Perhaps it is time to see “the big…
Homeowner Property Losses: Underwater
January 1, 2003 Susan Vella, senior vice president of personal insurance at ChubWater-related losses on homeowner property covers seem to be seeping increasingly into the red-ink. While insurers have been battling the onslaught of losses arising from auto business, water poses a new threat to personal property covers, one which insurers can…
Facility seeks 41% rate increase in Newfoundland
December 10, 2002 by Canadian UnderwriterThe industry’s pool for insuring high-risk drivers is asking the Newfoundland Public Utilities Board to approve a 41% hike in rates in that province.The Facility Association (FA), which offers mandatory insurance coverage to drivers who have been refused in the…
IBAO Convention 2002: Stressed Relations
December 1, 2002 Vikki SpencerAs insurers and brokers met at the recent Insurance Brokers Association of Ontario (IBAO) convention held in Hamilton, the mood was a far cry from the easy days of the soft market. Rising rates and “vanishing markets” have put a strain on broker/insurer relations. Added to this is the pressure of mobilizing the industry towards its Internet portal project. The mix is producing heated discussion about the industry’s future direction.
Taking the Lash Out of Driving
December 1, 2002 Mary Lou Reilly, IBCAdjusting vehicle head restraints, or headrests, can help prevent the pain of whiplash, says a new Canadian study. The message for drivers: rest up and save your neck.
Snow No Mercy
December 1, 2002 Craig HarrisIce and snow removal contractors are in the insurance spotlight, as growing liability exposures force property and casualty insurance carriers to pull back coverage. Those insurers that remain in the business are taking a careful approach to underwriting – and loss prevention.
Insurers defend new Ontario auto insurance legislation
November 4, 2002 by Canadian UnderwriterDespite criticism this past week by opponents to the recent auto insurance legislation reform measures brought into place in Ontario, the Insurance Bureau of Canada (IBC) holds firm that the actions taken will provide long-term cost benefits for policyholders. “the…
Ontario auto insurance reform debuts to mixed reaction
November 1, 2002 by Canadian UnderwriterMuch anticipated Ontario auto insurance reforms have been put before the legislature with the view of having legislation enacted by the beginning of next year. Auto insurers, represented by the Insurance Bureau of Canada (IBC), say they “applaud” the actions…
Older cars a target for thieves: IBC study
October 8, 2002 by Canadian UnderwriterCar thieves are increasingly targeting older vehicles, says a new study from the Insurance Bureau of Canada (IBC).The IBC commissioned the study after collecting annual statistics from insurers in 2002 which reported more older cars being stolen than new ones.…
Ontario Proposed Standards for Auto Repair: A Fair Deal?
October 1, 2002 Alex Szabo, president of the Collision Industry Standards CounciRecent private-member legislation put forward in Ontario under Bill-165 with regard to implementing minimum quality standards for auto collision repair shops appears to have come under fire from auto insurers. There seems to be concern that such standards will eliminate “direct repair programs”, or “DRPs” that currently exist between insurers and their vendors. The auto repair shop organizations supporting the standards legislation and ultimately improved protection of the consumer believe that these concerns are unjustified.
Nightmare
October 1, 2002 AxiomTo celebrate our 75th year in business, my insurance company had staged a special anniversary party at our head-office. There had been an open bar, mounds of hot finger food, plus a few mercifully short speeches. Some of our leading…