Legislation puts sustainability of Ontario auto product at risk: Top 5 insurer
October 29, 2018 by Greg MeckbachThe major problems of the Ontario auto insurance product won’t be solved by changing the territorial rating system, a major insurer warns. Two private member’s bills recently tabled at Queen’s Park “have the potential to challenge the sustainability of the…
This province is bringing in new rules on car repairs and purchases
October 25, 2018 The Canadian PressCALGARY – Starting next week, there will be new rules in Alberta for selling autos or getting them fixed. Service Alberta Minister Brian Malkinson says the changes go into effect on Wednesday and will increase transparency and better protect consumers.…
Intact-backed insurtech cracks the Fintech100 list
October 23, 2018 by Greg MeckbachA French robo-broker and an auto insurer backed by Canada’s largest property and casualty carrier are among the insurtechs “driving disruption” in financial services, a report released Tuesday suggests. KPMG announced Tuesday the fifth annual Fintech100, a report that highlights…
How rotating postal strikes are affecting these major insurers
October 23, 2018 by Jason ContantAfter much hand-wringing about the impact of a postal strike on the insurance industry, rotating strikes by Canada Post workers have seemed to have had little impact on major insurers. Aviva Canada told Canadian Underwriter Tuesday the immediate impact of…
The cannabis myth that CAA is trying to debunk
October 22, 2018 by Greg MeckbachA recent experiment in Montreal shows that people who smoked a small fraction of a joint were much riskier drivers than if they drove sober, the Canadian Automobile Association suggests. CAA funded a study at the Research Institute of the McGill University Health…
Will you soon be selling cyber insurance for automated vehicles?
October 22, 2018 by David GambrillBrokers may wind up selling cyber insurance for automated vehicles by 2040. “Cybersecurity is a red-hot topic in the insurance world,” Sami Shaker, a physicist for Kodsi Forensic Engineering, told brokers attending a presentation on automated cars at the 2018…
Crawford’s Top 3 claim loss predictions from marijuana legalization
October 18, 2018 by Jason ContantClaims adjuster Crawford & Company (Canada) Inc. sees auto, commercial and workplace-related losses as the Top 3 claims arising from the legalization of marijuana. Auto losses related to cannabis usage; commercial losses to cannabis producers, retailers and distributors; and employee…
Driver ticketed for smoking pot in car one hour after legalization
October 18, 2018 The Canadian PressWinnipeg police issued a ticket on the first day of cannabis legalization. Police posted a picture of a ticket for consuming cannabis in a motor vehicle on Twitter. The ticket carries a $672 fine. Police say the ticket was issued…
Coroner pushes to bring ignition lock rules for repeat drunk drivers
October 16, 2018 The Canadian PressMONTREAL – A Quebec coroner is recommending the province move quickly to implement a rule that would force repeat drunk drivers to have their vehicles fitted with ignition locks for at least a decade. Andree Kronstrom is urging the province’s…
Winter tire program has kept auto rates in check, insurer reports
October 15, 2018 by Jason ContantManitoba Public Insurance (MPI) is continuing its low-interest Winter Tire Program, which has helped keep provincial auto insurance rates in check, the public insurer said last week. Prior to the introduction of the program four years ago, Manitoba had one…
How Canada Post disruption could help the insurance industry
October 11, 2018 by Greg MeckbachThe threat of a work stoppage at Canada Post may lead to a positive outcome in a back-handed way, by potentially raising awareness among regulators and consumers about the value of electronic documents, an Insurance Bureau of Canada official suggests.…
Appeal court nixes $100K awarded for lost income
October 10, 2018 by Greg MeckbachA plaintiff who was injured in an auto accident has had her award cut by $100,000 because she is not entitled to compensation for loss of income, the British Columbia Court of Appeal has ruled. Yi Gao sued Brian Dietrich…