Auto Insurance: Page 26

Auto Insurance

Driving Data: Saskatchewan drivers reported 29,983 collisions in 2022, says SGI

Regina, Saskatchewan — Saskatchewan Government Insurance (SGI) has released its 2022 Saskatchewan Traffic Collision Report, noting 29,983 accounted for vehicle accidents occurring in the province. According to SGI’s report, 2022 saw a 23 percent collision increase from 2021. However, Tyler McMurchy, manager of media relations at SGI noted that 2021 was not a typical year […]

Auto Insurance

Faking It: Manitoba Public Insurance unveils top claims fraud cases in 2023

Winnipeg, Manitoba — To close out 2023, MPI has created a list of some of its most ridiculous attempts at insurance fraud claims for the year. According to MPI’s Special Investigation Unit (SIU), auto insurance fraud in Manitoba costs more than $50 million every year. In 2023, the SIU closed more than 3,000 investigations of […]

Auto Insurance

New Year, New Rules: Ont. tow and storage operators must be certified, ascribe to new Code of Conduct, according to new provincial towing legislations

Toronto, Ontario —New towing legislation in Ontario will require all tow and storage operators be certified by the province and possess identification cards to prove such, among other changes enacted Jan. 1 by the Ont. government. Under the new legislation, tow and storage operators must be certified by the province and have an identification card […]

Auto Insurance

Automotive Opt-Outs: Ontario drivers can now opt out of direct compensation property damage coverage insurance

Toronto, Ontario — Ontario drivers are now able to opt out of direct compensation property damage (DCPD) insurance as part of a wider multi-year insurance strategy first announced in 2019 by the Ontario government. DCPD coverage is designed to protect car owners from costs related to vehicle damage from a collision if they are not […]

Auto Insurance

New Year, New Rates: Government of Manitoba announces a five percent auto insurance rate reduction in the new year

Winnipeg, Manitoba — On Tuesday, the government of Manitoba announced that a five percent rate decrease has been ordered for all mandatory auto insurance premiums. This order came from the province’s Public Utilities Board and will come into effect beginning April 1, 2024, and then carry through into 2025. The change in rates comes after […]

Auto Insurance

Proactive Plan Proposing: Financial Services Regulatory Authority of Ontario announces installation of Auto Insurance Supervision Plan

Toronto, Ontario — The Financial Services Regulatory Authority of Ontario (FSRA) is releasing its first Auto Insurance Supervision Plan to promote public trust between drivers and insurers. The plan, which will come into effect beginning January 2024, includes three key areas of supervision for auto insurers over 15 months. These key areas include sale and […]

Expanding Threshold Expectations: Alberta raises collision reporting threshold from $2,000 to $5,000

Edmonton, Alberta — Starting January 1, the Alberta government plans to raise the damage threshold beyond which motorists in a collision must report to police from $2,000 to $5,000. Transportation Minister Devin Dreeshen said that this move will free up police resources and will also better reflect the rising cost of auto parts and repair […]

INSURANCE NEWS

CATACLYSMIC CASH-OUTS Initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ) indicate that the past few months of summer storms in Alberta and the Prairies have generated over $300 million in insured losses. When calculating these losses, estimates were generated from damages incurred from hail, wind and rain damage. The total $300 million plus does […]

A State of Reduction: Allstate may move out of three major U.S. jurisdictions, says CEO Tom Wilson

Toronto, Ontario — Allstate CEO, Tom Wilson, announced that the insurance provider is ready to move away from three major U.S. jurisdictions to preserve assets. The jurisdictions in question include California, New York and New Jersey, with plans to continue reducing Allstate’s presence in Florida as well. “If we don’t get price increases this year, […]

Inspecting Inspections: P.E.I. considering changing from yearly vehicle inspections

Charlottetown, P.E.I. — The Prince Edward Island (P.E.I.) government has recently announced that it will be reviewing the required frequency of motor vehicle inspections. Currently, vehicles in P.E.I. need to be inspected every year. However, Ernie Hudson, the province’s minister of transportation, feels that there are many things to consider during the review of potential […]

Thwarting Theft: Ontario spending $18 million over three years on auto theft prevention

Toronto, Ontario — The Ontario government is spending $18 million over the next three years to fund projects intended to fight auto theft, Premier Doug Ford announced on November 24. The money to fund these projects will come through a preventing auto thefts grant, according to a news release accompanying the announcement. This grant money […]

Moving Forwards: MPI faces massive backlog following two month strike

Winnipeg, Manitoba — Manitoba Public Insurance (MPI) is facing a massive backlog of claims, road tests and other appointments as its employees return to work following a two-month strike.  While the strike may have ended last week, MPI employees have some catching up to do reports Carmen Nedohin, who recently assumed the role of MPI’s […]

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