IBC praises new towing guidelines in Ontario
February 5, 2021 by Jason ContantInsurance Bureau of Canada (IBC) is applauding the Ontario Provincial Police (OPP) on its new towing services guidelines aimed at providing clear direction to tow operators. “These guidelines are another tool to help protect drivers and ensure that at the…
Will NatCats cause your business clients to leave hot spots?
February 1, 2021 by Adam MalikAfter going through a wildfire and multiple flooding events over the last few years, it’s reasonable to believe that businesses are re-thinking about being in Fort McMurray, Alta., says a Canadian P&C insurance executive. The executive’s comment applies to more…
IBC reveals the latest trends in auto theft
December 8, 2020 by Jason ContantElectronic auto theft, high-end vehicles stolen for shipment overseas, and street racing are three emerging trends coming out of Insurance Bureau of Canada’s (IBC) list of Top 10 stolen vehicles in 2020. Electronic auto theft is on the rise across…
Canadian small businesses ask insurers for more relief
November 11, 2020 by Adam MalikWith commercial insurance premiums on the rise in a number of business classes, and some unable to even find an insurer, a national association representing Canadian small businesses is calling on insurers and provincial governments to do more to ensure…
Insurers, collision repairers tout benefits of proposed mandatory certification
October 5, 2020 by Adam MalikA push to require Ontario collision repair shops to meet minimum standards when repairing vehicles is expected to even out the playing field, make the claims process run more smoothly, help client satisfaction, make roads safer, and potentially bring down…
One certifiable way to improve the driver’s claims journey
October 1, 2020 by Adam MalikDrivers in Ontario can anticipate a smoother claims journey if collision repair shops in the province are certified in the future as expected, according to a pair of experts. Currently, the national trade association that represents collision repairers is in…
The collision industry is looking to certify shops. Will that impact auto premiums?
September 29, 2020 by Adam MalikA push to certify Ontario collision repair shops could impact insurance rates and see premiums come down, says one automotive expert. Whether or not it does, such a move will still positively affect the insurance industry, adds an Insurance Bureau…
How the public currently views the insurance industry
August 24, 2020 by Adam MalikAfter a sharp drop, people are starting to feel a bit more positive towards the insurance industry. As the COVID-19 pandemic grew, the insurance industry’s image as a whole suffered. But, says a recent report, things are trending upwards once…
How high cat losses could go this year
August 4, 2020 by Adam MalikAlberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
What the P&C industry must do to fight auto insurance fraud
July 31, 2020 by Adam MalikCollaboration within the Canadian P&C insurance industry is key to fighting fraud, but this is tricky because of data sharing and privacy concerns. Fraud concerns have become more pronounced during the novel coronavirus pandemic. P&C industry experts have warned that…
P&C insurers can handle severe weather events, but for how long?
July 27, 2020 by Adam MalikCanadian property and casualty insurers should be able to manage well financially for the time being, despite currently dealing with a pandemic and the fourth-most expensive natural catastrophe in the country’s history, says global credit rating agency DBRS Morningstar. However,…
Why thieves love the older models of Ford pickup trucks
December 5, 2019 by Adam MalikFord trucks once again topped the list of most-stolen vehicles in Canada, according to the latest report from Insurance Bureau of Canada (IBC). But the thieves don’t want the new models: it turns out that nine of the 10 most…