Subsidy Scandal: Insurance Bureau of Canada claims Alberta’s ‘safe drivers’ charged auto insurance premiums to subsidize high-risk drivers
Edmonton, Alberta — The Insurance Bureau of Canada (IBC) reports that Alberta’s ‘good’ drivers are being forced to pay auto insurance premiums to subsidize high-risk drivers. Using data from a Deloitte LLP report, the IBC said on Wednesday that it discovered that the province’s worst drivers have been offered subsidized insurance rates for 20 years. […]
New Year, New Rules: Ont. tow and storage operators must be certified, ascribe to new Code of Conduct, according to new provincial towing legislations
Toronto, Ontario —New towing legislation in Ontario will require all tow and storage operators be certified by the province and possess identification cards to prove such, among other changes enacted Jan. 1 by the Ont. government. Under the new legislation, tow and storage operators must be certified by the province and have an identification card […]
Expanding Threshold Expectations: Alberta raises collision reporting threshold from $2,000 to $5,000
Edmonton, Alberta — Starting January 1, the Alberta government plans to raise the damage threshold beyond which motorists in a collision must report to police from $2,000 to $5,000. Transportation Minister Devin Dreeshen said that this move will free up police resources and will also better reflect the rising cost of auto parts and repair […]
Thwarting Theft: Ontario spending $18 million over three years on auto theft prevention
Toronto, Ontario — The Ontario government is spending $18 million over the next three years to fund projects intended to fight auto theft, Premier Doug Ford announced on November 24. The money to fund these projects will come through a preventing auto thefts grant, according to a news release accompanying the announcement. This grant money […]
Flash-Flooding Fees: Severe summer storms in Ontario cause over $340 million in insured damages
Toronto, Ontario – According to early estimates from Catastrophe Indices and Quantification Inc. (CatIQ), as referenced by the IBC, the severe storms and flash-flooding that hit parts of Southern Ontario over the summer have resulted in over $340 million in insured losses. Of this total amount, over $80 million—or close to 25 percent—went towards replacing […]
Cataclysmic Cash-Outs: Severe summer storms in Alberta and Prairies have resulted in $300 million in insured losses
Calgary, Alberta – It’s raining more than cats and dogs according to recent Insurance Bureau of Canada (IBC) reports. Initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ) indicate that the past few months of storms in Alberta and the Prairies have generated over $300 million in insured losses. When calculating these losses, estimates were […]
Partners in Progress: IBC partners with Skills Ontario to support Indigenous initiatives
Toronto, Ontario — The Insurance Bureau of Canada (IBC) has officially come on board as a partner of Skills Ontario’s Diversity, Equity and Inclusion program, with plans to support the organization’s First Nations, Métis and Inuit (FNMI) initiatives. Skills Ontario regularly hosts information sessions aimed at attracting underrepresented populations, namely Black, Indigenous and new Canadian […]
Rate Cap Clapback: IBC says Alberta auto insurance rate cap ‘does nothing to improve affordability’
Edmonton, Alberta — If there are two things the insurance industry and the “Real Housewives” series have in common, it is a stupefying propensity for drama and scandal, as has unfolded Thursday when the Alberta government announced an immediate cap on auto insurance rates through to the end of the year. Announced in a joint […]
Holding Steady: ICBC files to freeze basic insurance rates for next two years
Vancouver, British Columbia — The Insurance Corporation of British Columbia has filed an application with the British Columbia Utilities Commission (BCUC) for no increase to basic insurance rates for the next two years. “Holding firm on ICBC’s basic insurance rate for two more years will help millions of drivers with their monthly bills amid global […]
Expensive Living: Alberta faces highest auto insurance rates of any province, says ICBC report
Calgary, Alberta — Albertans are paying the highest auto insurance rates in Canada, according to a Insurance Corporation of British Columbia (ICBC) report released Dec. 8. According to the original report from the ICBC website, data was compiled from automotive insurance rates starting from Sept. 1, across nine provinces. Out of 27 customer profiles varying […]
