A surprise majority for the Liberals in the recent election is expected to set a different tone in Queen’s Park after almost 3 years of minority government. A minority government is all about survival, there is no long-term planning. The Liberals could not focus on deficit reduction, job creation, pensions or stabilizing the auto insurance product without the confidence of having the support of the Legislature.
http://www.insblogs.com/auto/queens-park-update-auto-insurance-bills-may-wait/1525
Aviva Canada announced Thursday it has begun litigation against a former Mississauga, Ont. brokerage employee who was allegedly conspiring with policyholders to misrepresent themselves to get cheaper premiums.
The latest poll question on Insurance Business asked Ontario brokers if they felt a Liberal majority government would benefit the industry – and the results were surprising.
http://www.insurancebusiness.ca/news/a-liberal-majority–helping-or-hurting-178631.aspx
Economical Mutual Insurance Company has no plans to move forward with telematics and usage-based insurance (UBI) at this time in light of quickly changing technology and as-yet unidentified factors that will ultimately drive adoption.
Manitoba’s compulsory auto insurance carrier has reported an underwriting loss of nearly $220 million in the fiscal year ending Feb. 28, 2014, as the total claims cost increased 15% from the previous year
Ontario auto insurers shouldn’t feel singled out that they are the only ones trying to meet rising claim costs, as Manitoba Public Insurance is under pressure to cut costs before raising rates.
http://www.insurancebusiness.ca/news/harsh-winter-blamed-for-rate-hike-request-178494.aspx
Registering and insuring your vehicle using your parent’s address in a neighbouring city might seem like a clever way to save money on your auto insurance rates.
What doesn’t make sense occurs when an insurance company tries to use the law to retroactively void an insurance policy, to take away an injured driver’s right to sue.
http://www.torontosun.com/2014/06/21/case-of-vanishing-insurance
It is a question brokers within the province are asking after looking at the statistics, especially when Ontario insurers are trying to meet the 15 per cent premium targeted cut.
http://www.insurancebusiness.ca/news/do-ontario-accident-victims-heal-more-slowly-178467.aspx