Costly Errors: 16 Alberta auto insurers fined for overcharging customers
Edmonton, Alberta – Alberta’s superintendent of insurance has aimed a number of hefty fines against 16 Alberta auto insurance companies for overcharging customers, according to a report from CBC. More than $1.5 million in fines were issued to, among others, the TD Bank Group, which includes Primmum Insurance, Security National Insurance Company and TD Home […]
Misrepresentation in Manitoba: Auto insurance fraud on the rise, says MPI
Winnipeg, Manitoba — Manitoban drivers seem to excel in getting caught with auto insurance fraud. The number of Manitobans charged with auto insurance fraud has tripled since 2019, reports Manitoba Public Insurance (MPI). MPI executive Curtis Wennberg said the increase in people getting caught is largely due to MPI’s increase in investigating suspicious claims. According to […]
Talking Telematics: How the process could alter first notice of loss
Toronto, Ontario — Telematics based FNOL (first notice of loss) will change the way the automotive industry is done. On Sept. 17, Collision Industry Electronic Commerce Association (CIECA) produced a webinar discussing collision industry disruptions, what they are and how they will disrupt the industry. The speakers for the webinar were Frank Terlep and Jake […]
A Challenging Summer: Alberta’s insured natural catastrophe total almost $2 billion after two additional storms
Edmonton, Alberta — Severe weather events have hit Alberta hard over the spring and summer months. Four events from April to August brought the insured damage total for natural catastrophes in the province to $2 billion, based on surveys from Catastrophe Indices and Quantification Inc. (CatIQ). Two storms have most recently contributed to this total […]
Safeguarding Savings: ICBC saves $329.5 million amid pandemic, Eby says customer rebates required
Victoria, British Columbia – British Columbia’s provincial insurance corporation has come under fire for under-delivering on customer rebates despite the hefty savings accumulated by the corporation in the midst of widespread business lockdowns. ICBC, the Insurance Corporation of British Columbia, saw a 37 percent drop in claims from the period of April to June. This […]
Insight for Insurers: Reuters hosting webinar on shaping claims in the new normal
Toronto, Ontario — Reuters will be hosting a free webinar for insurance carries this week, entitled ‘Shaping Claims Experience in The Next Normal: Find Your Competitive Edge’. The webinar will take place on September 9 at 11 am ET and will feature insights from Ian Thompson (Global Chief Claims Officer, Zurich), Jeff Brown (President, VPay ) and Shannon Harjer (Vice President Claims, Founders […]
Insurance Illiteracy: Poll finds Canadians fail to understand auto insurance
Toronto, Ontario — RATESDOTCA, a company that compares Canadian insurance rates, recently polled 1,513 Canadians to analyze their knowledge of auto insurance, finding that the majority of our nation’s drivers scored an ‘F-grade’ when it comes to insurance literacy. The survey consisted of seven common questions drivers may ask themselves before selecting vehicle insurance, with […]
Continued Callout: IBC says ICBC’s monopoly is ‘a burden to taxpayers’
Victoria, British Columbia — The Insurance Bureau of Canada (IBC) has yet again called out the Insurance Corporation of British Columbia (ICBC), saying the public insurer continues to burden B.C. taxpayers. “Despite charging the highest auto insurance premiums in the country, [ICBC] continues to be a financial dumpster fire that both drivers and taxpayers simply […]
Eyes Up: Distracted driving still a problem in pandemic, says Desjardins
Toronto, Ontario — Desjardins Insurance’s road safety survey resulted in the majority of Canadians admitting that they continue to drive distracted, even in 2020. Distracted driving is a major concern on Canadian roads, with 60 percent of young drivers between the ages of 16 and 34 admitting to being distracted by a cell phone while […]
No Relief: IBC reiterates disappointment in ICBC for its lack of financial relief for its customers amid the pandemic
Vancouver, British Columbia — Throughout the COVID-19 pandemic Canadians have been driving less, leading to a reduced amount of claims. In response to this reduction, private insurers have returned approximately $280 per driver in auto insurance premium relief. The Insurance Bureau of Canada (IBC) ran a survey of members and found that the industry has […]