Point of Divergence: Insurance premiums grow costlier as Ont. crash frequency remains low, AG annual report says
Ottawa, Ontario — The office of Ontario’s Auditor General released its 2022 Annual Report on Wednesday, where more light was shed on the province’s growing disparity between low crash frequency rates and high auto insurance premiums. Penned by Auditor General Bonnie Lysyk, this year’s report found the average Ontario auto insurance premium rose by 14 […]
Cash for the Furnace: Insurance bureau says ICBC on track to lose $298 million this year
Vancouver, British Columbia — The Insurance Bureau of Canada (IBC) reported Friday that British Columbia’s crown insurance company is on track to record a financial loss of $298 million for this year. Vice president of IBC’s western and Pacific regions, Aaron Sutherland, called this update from the Insurance Corporation of British Columbia (ICBC) “incredibly disappointing” […]
Manitoba Falling: MPI proposes insurance rate decreases for fourth year in a row
Winnipeg, Manitoba – Manitoba Drivers may see a 0.9 percent decrease in their insurance rates, Manitoba Public Insurance (MPI) announced on Monday. While most drivers can expect this decrease in their rates, it does not apply to all vehicle classes. Rates may increase, or decrease further dependent on the type of vehicle. Vehicles that will […]
All Hail SGI : Saskatoon Hailstorm causes weekend damage, hundreds of claims filed
Saskatoon, Saskatchewan — Things can change at a moment’s notice. Evening plans can turn into overnight escapades. A drive on a whim can turn into a journey for a day. And a beautiful summer day can descend into danger and destruction. That’s exactly what happened last Saturday as a summer storm damaged many vehicles in […]
Insured a Great Time: More than 300 insurance leaders set to attend Toronto conference in Sept.
Toronto, Ontario — Leaders from the world of insurance will be descending upon Toronto in the second week of September for the Future of Insurance 2022 conference, organized by Reuters Events. With more than 300 industry leaders slated to attend, including CEOs from Lloyds Canada, Desjardins and Fenchurch General (all of whom are scheduled to […]
Just Like the Simulation: ICBC launches Street Sense interactive driving app
Victoria, British Columbia — ICBC has officially entered the interactive space with the launch of the government insurer’s new driving simulation and training tool, Street Sense, available now on Steam and mobile app stores. For its first foray into what arguably borders on the world of gaming, ICBC has unveiled an app that puts users […]
Regina Recovering: SGI receives more than 3,700 vehicle claims after Regina hailstorm
Regina, Saskatchewan — While the real costs are of course still being tallied up, SGI places the amount of vehicle damage claims they received in the days following Tuesday night’s hailstorm at more than 3,700. Reports of golf ball-sized hail extend as far as Assiniboia, 130 kilometres southwest of the storm’s eye in Regina. “It’s […]
Claims Communication: Surveys finds Canadian millennials prefer texting with insurers
Toronto, Ontario — A new survey found Canadian millennials, people aged 25 to 45 prefer texting with their insurance providers for certain parts of the claims process and view texting as an asset in regards to selecting an insurance company. The study conducted by Hi Marley, found that 56 percent of Millennials and 52 percent of […]
Splitting the Bill: Surrey man wins lawsuit against ICBC after 50-50 split with red light runner
Vancouver, British Columbia — A small bit of justice has been done in B.C. this week as a Surrey man won his lawsuit against the Insurance Corporation of British Columbia, winning back the damages he was forced to pay when he was hit by a driver running a red light. Christian Pederson has at long […]
Caught in the Weeds: B.C. driver on the hook for $4K rental bill due to coverage mixup
Squamish, British Columbia — A chance encounter with Calgary’s early July hailstorm has left a visiting British Columbia driver on the hook for thousands as insurance fineprint snatches up another victim. Henrietta Veenstra of Squamish was caught in Calgary in early July, around the time the city was hit with a substantial hailstorm. The rental […]
