One of the major insurance stakeholders in the Ontario auto market is upbeat on legislative changes to drive down rates that are “still way too high.”
http://www.insurancebusiness.ca/news/ontario-auto-rates-way-too-high-says-insurance-coo-189068.aspx
Take Ontario, for example. The province’s nine million drivers consistently pay the most for auto insurance in Canada. One of Ontario’s biggest auto insurance problems is the cost side of the equation. In 2013, the average cost of an accident benefit claims payout in Ontario to help people recover from a collision was $31,785. In Atlantic Canada, it was only $8,600.
Telematics technology may not reduce the frequency of auto insurance claims, but it does help reduce severity, reduce insured losses and help brokers provide value-added services to both consumer and commercial customers, speakers suggested Tuesday at the P&C Insurance Technology Conference.
Reasons for judgement were released today by the BC Court of Appeal (Pacheco v. Antunovich) overturning a trial judgement which dismissed an injury claim following a so-called low velocity impact. The Court found the trial judge made palpable and overriding errors in his assessment of the evidence.
Ontarians pay far too much for auto insurance. It’s time Ontario has a publicly-owned enterprise to provide auto insurance.
http://www.thespec.com/opinion-story/5464159-auto-insurance-must-improve/
UK auto insurer ingenie is now offering policies to Ontario drivers aged 16-24. Drivers get a 10 percent discount for using ingenie’s telematics system, and can earn an addition 25 percent off for good driving.
http://www.citopbroker.com/news/ne-telematics-based-insurance-for-youth-enters-ontario-7812
The cost of fraud to insurers and those with legitimate claims was brought home by one broker, who encountered three accident benefit claims in one week.
http://www.insurancebusiness.ca/news/tougher-sentences-needed-for-fraudsters-188834.aspx
Canada’s civil and family law systems are complicated and inefficient. The first steps toward changing that will be aimed at providing better information to the public, says Supreme Court of Canada Justice Thomas Cromwell.
Afonina became news in January, when a B.C. Supreme Court judge awarded her $1.5 million in damages for a brain injury that changed her personality so drastically, it essentially led to her job choice, he concluded.
Google’s foray into insurance officially has already begun, as Californians can now shop on Google Compare for auto insurance; is Canada next?