Newfoundland introduces new auto package, rate freeze
March 18, 2004 by Canadian UnderwriterA new package of reforms to Newfoundland’s auto insurance system is being touted as a means to achieve 15% rate reductions. Newfoundland & Labrador Premier Danny Williams, and Government Services Minister Dianne Whalen introduced the new package Wednesday, which is…
Ontario cap on tow truck claims to be dropped
March 10, 2004 by Canadian UnderwriterExpectations are that the $300 cap on vehicle towing and storage costs to be in force in Ontario by mid-April will now be dropped. The Collision Industry Action Group (CIAG) says that sources close to Michael Colle, parliamentary assistance responsible…
Insurers Warm Up to Ontario Auto Reforms
February 1, 2004 by Canadian UnderwriterInsurers have come out in favor of Ontario’s new auto insurance reforms. The McGuinty Liberals had promised legislative reforms after freezing rates shortly after taking office in October. Although the latest product reforms mean the end of the rate freeze,…
Auto reforms regulated in Ontario
January 12, 2004 by Canadian UnderwriterThe reforms hinted at with the passage of “The Automobile Rate Stabilization Act of 2003” have now made their way into regulation. Friday, the Ontario Liberal government announced that it would repeal the auto rate freeze introduced late last year…
What About The Innocent Co-Insured?
January 1, 2004 Richard DavidsonSome years ago, I visited a commercial client to review his cover prior to renewal. I could tell that his mind was not fully attentive to matters I was discussing with him. He then turned to me and posed an…
Crash Course in Collision Claims
January 1, 2004 Sam MalatestaIn the face of auto insurance rate increases, consumers are changing the way they view the claims process. Expectations for service are high, and severity is increasing as consumers shy away from filing all but the most serious claims. In this atmosphere, insurers and their claims partners have to find a way to win back public confidence while managing costs throughout the claims process.
Views (January 01, 2004)
January 1, 2004 by Canadian UnderwriterThe 2003 recipient of the CIP Society’s Fellow of Distinction Award for the GTA is Carolyn Walsh, a partner at CCV Insurance and Financial Services Inc. She has served the Insurance Institutes for over 10 years, is a past president…
Fraudulent cyclist tops list of insurance scams
December 18, 2003 by Canadian UnderwriterA scamming cyclist tops the list of insurance frauds for 2003, according to the annual survey by the Insurance Bureau of Canada (IBC). While the list makes light of ridiculous insurance frauds committed each year, fraud is no laughing matter,…
SUV bumpers rated poor in low-speed collisions
December 1, 2003 by Canadian UnderwriterIn two separate crash test studies, midsize SUVs (sport utility vehicles) fared relatively worse at lower speeds, according to research by the U.S. Insurance Institute for Highway Safety (IIHS). In tests simulation 40 mph frontal offset crashes, eight of nine…
On The Move (December 01, 2003)
December 1, 2003 by Canadian UnderwriterThe Insurance Bureau of Canada operations at 240 Duncan Mills Rd. are moving to 2235 Sheppard Ave. East, Toronto. Enterprise Rent-a-Car has named Jim Thompson as vice president and general manager of its Alberta group. He has been with the…
Alberta auto reforms promise $250 million premium savings
November 21, 2003 by Canadian UnderwriterIntroducing a new “premium grid” for auto insurance policyholders, the Alberta government says its reforms will lead to $250 million in savings for the province’s drivers.According to the grid, a “benchmark premium” for drivers with clean records would be set,…
Tiburon tops IBC “most stolen vehicles” list for fourth year
November 10, 2003 by Canadian UnderwriterFor the fourth year in a row, the two-door Hyundai Tiburon has been listed as the “most stolen car in Canada” by the Insurance Bureau of Canada (IBC). But this could be the last year, as the vehicle maker have…