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 […]
Insurance Clique: FSRA to launch review of 12 Ont. insurers blocking access to auto insurance
Toronto, Ontario — Ontario’s financial regulator has called out 12 insurance companies for non-compliance with the province’s “Take-All-Comers” requirement, alleging in a 45-page report that consumers have been blocked from accessing mandatory auto insurance. In Ontario, the “Take-All-Comers” mandate states that insurers are required by law to accept business from all consumers who meet FSRA-approved […]
You Pour, You Pay: MPI to eliminate third-party coverage for impaired drivers Aug. 1
Winnipeg, Manitoba — Manitoba’s public insurer won’t be cutting a break to impaired drivers anymore, announcing Tuesday that drivers found to be under the influence will no longer be eligible for third-party liability coverage following a collision. Starting Aug. 1, if you drink, drive and crash in Manitoba, you can also add “pay” to that […]
Status Quo: MPI applies to utilities board for no rate change, expanded safety rating scale
Winnipeg, Manitoba — It’s the time of year when insurance companies come to the Public Utilities Board, hat in hand, pleading for its favour in the coming years—in this case, Manitoba Public Insurance is pleading for no rate changes for the 2024/25 fiscal year. The general rate application was submitted Thursday alongside a press release […]
A New Direction: Conduct review of MPI CEO linked to Project Nova pitfalls, board confirms
Winnipeg, Manitoba — Manitoba’s public insurance corporation said goodbye to its CEO on Tuesday and subsequent reporting from the CBC shows that Eric Herbelin’s dismissal is in fact linked to his handling of Project Nova. This dismissal of MPI’s highest-ranking executive comes immediately following a review carried out to assess Herbelin’s conduct, the results of […]
Kicking the Can: MPI external review aims to ‘buy time’ ahead of election, NDP MLA says
Winnipeg, Manitoba — Manitoba Public Insurance’s long-delayed “Project Nova” online transition effort has yet again found itself in the crosshairs of the Opposition in Parliament amid criticism of last Monday’s call for an external organizational review of the insurer. Matt Wiebe, a New Democrat MLA representing the Concordia district in Winnipeg, called out the province’s […]
Cyclical Savings: Tesla insurance lowering repair costs for customers, top execs say on earnings call
Toronto, Ontario — Tesla’s proprietary insurance platform has made its way into several U.S. states since its 2019 California launch, and now, top executives in a recent company Q4 earnings call claim that their model is actively lowering repair costs for customers. First reported by Drive Tesla Canada, Tesla CFO Zach Kirkhorn and CEO Elon […]
Rate Cap Clapback: IBC says Alberta auto insurance rate cap ‘does nothing to improve affordability’
Edmonton, Alberta — If there are two things the insurance industry and the “Real Housewives” series have in common, it is a stupefying propensity for drama and scandal, as has unfolded Thursday when the Alberta government announced an immediate cap on auto insurance rates through to the end of the year. Announced in a joint […]
Rate Daze: Auto insurance rating systems becoming complex beyond understanding, lawyer says
Toronto, Ontario — The current Canadian auto insurance rating system is so complex, a lawyer who recently spoke at a recent insurance industry event said that “There are concerns that these systems will be so complex over time that we don’t understand them.” Carole Piovesan, co-founder of data law and consulting firms INQ Law and […]
Fee Freeze: ICBC approved for two-year rate freeze, utilities commission review to follow
Vancouver, British Columbia — Ask and you shall receive—if you happen to be ICBC, that is—as British Columbia’s crown insurer has been approved for a two-year freeze in auto insurance rates, amid rising inflation among drivers. The British Columbia Utilities Corporation (BCUC) confirmed last Tuesday that ICBC and its basic policyholders will see their insurance […]
