Auto

Co-operators drops liability rates on auto in New Brunswick

Co-operators General Insurance Co. has filed for a 25% reduction in rate on the liability portion of its auto business in New Brunswick. The insurer says the rate reduction, which was filed for with the province’s Public Utility Board yesterday, will be effective from the beginning of July this year.Co-operators’ decision to reduce its auto […]

By Canadian Underwriter | June 24, 2003

1 min read

Auto

Markel sells U.K. auto book

Fairfax subsidiary Markel is selling its U.K. auto portfolio to Brit Insurance Ltd. Markel International is selling the portfolio that includes fleet, self drive hire (rental) and taxi business. In total, the book is worth about 16.25 million pounds in annual gross written premiums.Some staff will also go to Brit Insurance in the deal for […]

By Canadian Underwriter | June 19, 2003

1 min read

Auto

Independent Regulator to Set ICBC Rates

The “Insurance Corporation Amendment Act”, which was recently introduced by British Columbia’s legislature will see the creation of a new body that will set price rate controls for crown insurer, the Insurance Corp. of B.C. (ICBC) on basic auto insurance. “The new structure takes politics out of ICBC rate-setting and ensures open, transparent and independently […]

May 31, 2003

1 min read

Auto

Alberta Brokers Want Voice in Auto Changes

New Alberta broker association president Mark Zemp says brokers want to be at the table for discussions of how to change auto insurance legislation. The recent Independent Insurance Brokers Association of Alberta (IIBAA) annual general meeting and conference in Jasper was not hampered by snowstorms hitting the province, but brokers are feeling left out in […]

May 31, 2003

2 min read

MPI charges six with fraud

Following a year-long investigation, Manitoba Public Insurance (MPI) has charged six people with insurance fraud. The six Winnipeg men face 15 charges stemming from six incidents that allegedly occurred between November 1998 and February 2003. The charges relate to incidents including staged car accidents to vehicle arson and auto theft, according to allegations by MPI’s […]

1 min read

Auto theft stats on the rise: ICBC

Auto theft statistics from 2002 show the crime is on the rise in B.C., says that province’s public insurer.The Insurance Corp. of B.C. (ICBC) says auto theft was up 7% last year, with 23,670 vehicles reported stolen. On top of a 17% increase in 2001, in the past two years, auto theft has risen about […]

1 min read

OIAA Claims 2003: Legislative Trade-Off

Two new pieces of legislation are changing the landscape for Ontario’s insurers. Changes to the auto insurance system have been much discussed, but falling under the radar is the introduction of contingency fees for lawyers, potentially signaling a swing to a more U.S.-style of litigation. Both legislative moves were up for discussion at the recent […]

March 31, 2003

5 min read

28% of consumers willing to buy insurance online

A new study to be unveiled next week shows that more than one in four consumers is willing to buy insurance online. The study, by Toronto-based UBER Analyze delves into consumer’s online appetites.The survey will provide, for the first time, rankings of the top 50 Canadian p&c websites. With 28% of consumers willing to buy […]

1 min read

Hub International buys B.C. brokerage

Broker consolidator Hub International “hub” Barton Insurance Brokers Ltd. has purchased the assets of H&H Insurance Services of Chetwynd, BC.H&H sees annual revenues of US$320,000 (Cdn$475,000) largely in auto and personal insurance. According to a press release, H&H’s operations will be “folded into” the Chilliwack, BC-based Barton.”This acquisition is a good strategic fit for Hub,” […]

1 min read

Drivers leaving anti-theft devices unused: MPI

Manitoba Public Insurance is warning drivers that unused anti-theft devices leave cars vulnerable to theft. The message comes with the release of MPI’s theft statistics, which showed that in the first two weeks of March, of 360 recovered stolen vehicles in Winninpeg, 23% had an unused steering wheel lock inside.”This percentage is the highest we’ve […]

1 min read