Although Karen Gavan may want the Economical to be the leader in property and casualty insurance, it definitely won’t be leading in telematics. At least for now.
http://www.insurancebusiness.ca/news/economical-to-take-the-sidelines-on-telematics-178725.aspx
An energized Liberal government with a strong mandate will mean lower car insurance costs for Ontario’s nine million drivers, says provincial finance minister Charles Sousa
Cyber insurance coverage is entering the next phase in its evolution from optional add-on product to increasingly important component of a thorough risk management program. As high-profile data security breaches grab top headlines, more organizations are having the “cyber talk” with their brokers and insurance partners. The pace of product adoption, however, is slow grind rather than big bang.
http://www.canadianunderwriter.ca/news/cyber-2-0/1003134248/
Canadian auto insurers have been slow to embrace usage-based insurance (UBI), but telematics is only the beginning of a data-driven revolution that is poised to transform insurance. Insurers would be well-advised to develop UBI offerings now to seize an advantage and remain competitive in future.
http://www.canadianunderwriter.ca/news/seizing-advantage/1003134249/
Instead, under Marshall’s watch, denied claims increased by 50 per cent. Benefits to injured workers have been reduced by $631 million; the rehabilitation program has been decimated; long-term wage loss benefits have been reduced by 28 per cent; hundreds of WSIB employees have been laid off; and injured workers’ pensions have been reduced by 31.3 per cent.
This is not only having a devastating impact on injured workers; it is also downloading costs onto our social assistance and health care systems. And the workers’ compensation system has been brought to a stall, with thousands and thousands of appeals and lengthy and unacceptable delays in dealing with them.
In a ground-breaking decision, the Workplace Safety and Insurance Appeals Tribunal has found that a provision in the Workplace Safety and Insurance Act (the “Act“), which denied benefits to workers suffering from non-traumatic mental stress, is unconstitutional.
http://www.ilstv.com/mental-stress-claim-upheld-by-workplace-safety-and-insurance-appeals-tribunal/
Thousands of Canadians who have been denied federal disability benefits have been waiting more than a year to have their appeals heard by the federal government’s new Social Security Tribunal, which is clearing just a small fraction of the cases every month.
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