Insurer Report Card 2024: Collision repairers grade Canada’s top insurers
Toronto, Ontario — It’s that magical season again—time to don your grading hats and provide feedback on Canada’s automotive insurers! Collision Repair presents to you: the 2024 Insurer Report Card survey. Loading…
Aviva Advisory: Insurer warns of ghost brokers in Canadian market
Toronto, Ontario — Aviva Canada is cautioning Canadians to beware of a ghost broker known as AllcoveredbyAviva or Allcoveredbrokers advertising on social media sites such as Facebook, claiming to be affiliated with Aviva and selling fake insurance, the insurer wrote last week in a release. “It has come to our attention that Canadians are being scammed by representatives of […]
On the Rise: Summer 2024 severe weather results in 228,000 claims; a 406 percent increase compared to previous 20-year average, says IBC
Toronto, Ontario — Canada’s home, auto and business insurers are reporting the most challenging summer on record for damage from weather events and natural disasters, according to the Insurance Bureau of Canada (IBC). Four major catastrophes were contributing to approximately 228,000 insurance claims this past summer, says IBC: flooding in Toronto and southern Ontario; the […]
Tech Trends: Insurers employ new technology as leading strategy for industry issues, says Reuters report
Toronto, Ontario — Insurers are adopting technology like generative artificial intelligence as a leading strategy against industry challenges, according to a new report from Reuters. The report, The Future of Insurance in Canada: Top Technology Trends in 2024″ indicates a majority of Canadian insurance representative respondents have already invested in “established technologies,” with 79 percent […]
Flooding Fixes: FSRA allowing licensed adjusting firms to use claims adjusters licensed outside of Ontario as response to recent Toronto flash-flooding
Toronto, Ontario — The Financial Services Regulatory Authority of Ontario (FSRA) has implemented temporary measures to allow claims adjusters to process insurance claims more quickly, following flash floods that affected the Toronto area last week. Specifically, the FSRA is temporarily allowing licensed adjusting firms to use claims adjusters licensed outside of Ontario. The FSRA is […]
Climbing Claims: Rising windshield claims cost ICBC more than $100 million each year, says recent report
Victoria, British Columbia — Data collected by the Insurance Corporation of British Columbia (ICBC) shows that there is a growing number of glass repair and replacement claims across the province, with the ICBC paying more than $100 million each year. While the Crown corporation did not speculate on the reasons behind the increase, data shows […]
Icy Insurance: Deep freeze in Western Canada estimated to have caused over $180 million in insured damages
Edmonton, Alberta — The deep freeze that Western Canada experienced in January is now estimated to have caused over $180 million in insured damages, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). On January 12 in British Columbia, Alberta and Saskatchewan, daytime highs dropped far below the seasonable normal and persisted for […]
Pothole Palooza: MPI sees jump in pothole-related claims; 249 claims received since start of 2024
Winnipeg, Manitoba — According to Manitoba Public Insurance (MPI), it has received 249 pothole-related claims since the start of 2024. The Crown corporation further notes that 161 of these claims were reported in the first 11 days of this month. This number is a distinct increase from the previous year in which MPI received a […]
Like a Good Neighbour: State Farm to pay $2 million fine for underpaid claims in Montana, U.S.
Montana, United States — Insurance provider State Farm will pay a US$2 million settlement following a two-year investigation by the Montana State Commissioner of Securities and Insurance (CSI) into the insurer’s claims handling practices. The investigation revealed that State Farm had underpaid some drivers who had been in accidents with State Farm’s insureds from November […]
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 […]