INSURANCE NEWS
A PROUD FIRST Big things are happening south of Thunder Bay, as multi-generational shop owner and former Collision Repair cover star Roy Pelletier revealed that his facility will soon become the fifth Intact Rely Service Centre in Ontario—and the very first on First Nations territory. While preparations for the rebrand and eventual relaunch of his […]
INSURANCE NEWS
MISPLACED PRIORITIES A PC Insurance commissioned survey found that safe driving discounts are the prime factor for most Canadians, with collision and liability coverage ironically considered the second and third most important factors in an auto insurance policy. The survey polled 1,500 Canadians, asking which factors they considered important, along with the most common misconceptions […]
INSURANCE NEWS
BATTERY STATUS Canadian repairers are becoming more capable when it comes to complex EV repairs, according to the debut “Plugged-In: EV Collision Insights” report by Mitchell. The Canadian collision industry has seen EV repairable claims frequency rise to a rate of 2.26 percent in Q4 2022, along with the average percentage of EV parts repaired, […]
INSURANCE NEWS
DRIVING DISPARITY The New Brunswick Insurance Board continues to approve insurer requests allowing credit scores to determine driver insurance rates, despite criticism that the practice carries discriminatory implications. Former attorney general Kelly Lamrock said that the use of poor credit to determine auto premiums was comparable with price discrimination by gender and age, saying in […]
INSURANCE NEWS
CASH IN THE FURNACE The Insurance Bureau of Canada (IBC) says the Insurance Corporation of British Columbia is on track to record a financial loss of $298 million for 2022. Vice president of IBC’s western and Pacific regions, Aaron Sutherland, called this update from the ICBC “incredibly disappointing” and said that taxpayers will likely face […]
INSURANCE NEWS
INTACT IMPACT Intact Insurance’s personal auto insurance claims grew by 28 percent in Q2 2022, though its CEO Charles Brindamour say the gains are more than just “pricing-driven.” “Equally important is how we manage claims and our supply chain,” the CEO referenced during Intact’s Q2 2022 earnings call. The insurer tours relations with collision repairers […]
INSURANCE NEWS
FOLLOW THE MONEY An interactive map published by British Columbia’s provincial insurer delves deep into the specific intersections on Vancouver Island where the most auto collisions occur—incidentally, also giving shop owners a good idea of where to invest in advertising. According to the Insurance Corporation of British Columbia’s data, which is as recent as April […]
INSURANCE NEWS
REAL TRUST IN AI The results of a consumer survey from Solera showed that 79 percent of drivers would trust an AI to handle the entirety of their claims experience. According to the latest edition of Solera Innovation Index 2022, a seven percent year-over-year increase in comfortability with fully AI-driven claims management has been observed. […]
INSURANCE NEWS
CASH FOR CRASH A recent survey from RATESDOTCA seems to indicate that a significant portion of Ontario drivers would prefer to leave their insurance company out of the loop when it comes to small fender- bender accidents. The survey found that 42 percent of Ontario drivers would prefer to pay or accept a cash settlement […]
INSURANCE NEWS
While Wyllie and Kennedy both anticipate further claims to surface, ICBC maintains that it is “too early” to estimate total claims and costs. THE LITERAL FLOODGATES “According to the Insurance Bureau of British Columbia (ICBC), the insurer has received more than 1,700 vehicle claims linked to extreme weather events during December. The damage is reportedly […]
