INSURANCE IMPLICATIONS
A government panel is recommending a fundamental overhaul of Albertan auto insurance, suggesting the province moves toward a no-fault model. Chris Daniel, who heads the governmentappointed Automobile Insurance Advisory Committee, says the change is critical if auto insurance is to remain sustainable while providing fair and timely care and compensation to those hurt in collisions.
The committee shared its 37 recommendations in a 536-page report published in early November. According to the report, the average Alberta consumer with full insurance coverage would see a 9.4 percent reduction in premiums if the provincial government makes the switch to no-fault.
SEAL OF APPROVAL
The Insurance Bureau of Canada (IBC) has expressed its support for the recently released 2020 Ontario Budget. IBC Ontario vicepresident Kim Donaldson praised the Ontario government for its support of the province’s auto insurance industry. The statement from IBC also acknowledged the organization’s satisfaction with the action taken on the part of the government to crack down on auto insurance fraud and illegal towing practices in Ontario.
ACQUISITION OF DIAMOND INSURANCE AGENCIES
Westland Insurance Group (Westland) announced the acquisition of Diamond Insurance Agencies, effective December 1, 2020. This acquisition supports Westland’s expansion strategy to serve more communities in Alberta and across Canada. Diamond Insurance Agencies has one office located in Calgary, Alberta. Founded in 1998, their professional advisors provide residential, auto, life, travel, recreation, farm, and commercial insurance services.“
We’re very happy to be growing our network in Calgary with the addition of Diamond Insurance Agencies,” said Jamie Lyons, President and COO of Westland Insurance. “We’d like to welcome the Diamond team to the Westland family, and look forward to working with Kathy Mohacsi, Kona Nakamura, and their team of insurance experts.”
CRACKING DOWN
Auto insurers in Nova Scotia are getting serious about cell phones now that Northbridge General Insurance Company has announced that it will be treating distracted driving as a major conviction that will affect insurance rates. Northbridge specifies three levels of conviction: minor, major and serious, with each bearing distinct penalties.
Under the new changes, drivers may face fines from $233.95 for the first offence to $578.95 for a third offence with the addition of four demerit points on conviction. The changes are set to take effect on January 4, 2021, for new customers and February 4 for renewals. In the ruling, NSURB also approved an increase to Northbridge’s multi-vehicle discount in Nova Scotia from 15 percent to 20 percent.
