Western woes: Bodyshops brace for market shock after B.C. public insurer announces $1.3 billion loss last year
By CRM Staff Victoria, British Columbia — January 29, 2018 — The Insurance Corporation of British Columbia (ICBC), the public auto insurer for the province, saw losses hit $1.3 billion last year, according to expert extrapolations from a study of the first three-quarters of 2017. What this means in the longer term for B.C. bodyshops […]
SGI changes definition of antique vehicle
By Tom Davis Regina, Saskatchewan — January 19, 2018 — Saskatchewan Government Insurance (SGI) has announced it has changed its definition of an antique vehicle. The corporation said its definition has officially changed from “vehicles 30 years old or older” to “vehicles that are model year 1987 and older.” This change means vehicles with a […]
Climate change, technology and raising repair costs and risk expected to impact the industry in 2018, say insurers
By Erin McLaughlin Toronto, Ontario — January 3, 2017 — Four insurers recently commented on what they anticipate will be major industry makers and breakers for the upcoming year. Rowan Saunders, President and CEO of Economical Insurance; Lynn Oldfield, President and CEO of AIG Canada; Sean Murphy, President of Lloyd’s Canada; and Heidi Sevcik, […]
Ontario to reform auto insurance system to combat fraud and drop prices
By Tom Davis Toronto, Ontario — December 6, 2017 — Ontario has announced it will take measures to make auto insurance more affordable for the province’s 10 million drivers with its Fair Auto Insurance Plan. Announced by Charles Sousa, Minister of Finance, in Toronto on Wednesday, the plan includes “significant” reforms that will aim to […]
Canadians are ‘deeply concerned’ about insurance fraud
By Tom Davis Toronto, Ontario — November 27, 2017 — Health is better than wealth, but when you’re tricked out of money for something that wasn’t your fault it can be infuriating. This is a worry for Canadians from coast to coast who are “deeply concerned” about the amount of money that so-called “cheaters” are […]
Desjardins to rebrand State Farm Canada business
By CRM Staff Levis, Quebec — November 21, 2017 — The State Farm Canada business that was acquired by Desjardins Group in 2015 will rebrand to Desjardins Insurance over the next two years. Desjardins completed the purchase of State Farm Canada’s property, casualty and life insurance operations, as well as its mutual fund, loan and […]
MPI’s new research centre earns Certified Collision Care certification
BY CRM Staff Winnipeg, Manitoba — October 26, 2017 — Manitoba Public Insurance’s (MPI) new centre for automotive research and training has been officially certified by Certified Collision Care. The certification means the new facility meets the original equipment manufacturer (OEM) certification criteria for Fiat Chrysler Canada, Ford Motor Company of Canada and Nissan Canada. “This […]
MPI opens ‘state-of-the-art’ research and training centre
By CRM Staff Winnipeg, Manitoba — October 18, 2017 — Manitoba Public Insurance (MPI) has opened a new “state-of-the-art” centre for automotive research and training in Winnipeg, Manitoba. The insurer says the new facility, which opened at the J.W. Zacharias Physical Damage Research Centre, will help its staff keep pace with the rapid changes in […]
‘Drastic action’ needed to fix ICBC’s financial crisis
By CRM Staff Victoria, British Columbia — September 6, 2017 — Mismanagement of the Insurance Corporation of British Columbia (ICBC) “goes back years,” according to a statement from BC’s Attorney General David Eby. The statement came in the wake of news that the BC government is limiting ICBC rate increases for drivers, while embarking […]
Study: Lane departure warning, blind spot detection cut collision rates
Arlington, Virginia — August 27, 2017 — There seems to be little doubt that lane departure warning technology is preventing collisions, according to new research from the US-based Insurance Institute of Highway Safety (IIHS). A separate study conducted by IIHS also seems to show that blind spot detection is also cutting down on lane-change crashes. […]
