Car insurance quote firm Kanetix says rates jumped by nearly 12 per cent in Ontario in the first three months of this year. By comparison, rates in Quebec fell by 4.6 per cent and rates in Alberta dropped 1.6 per cent. The quarterly review by online quote provider Kanetix says the numbers show rate increases [...]
Many people and organizations have made submissions to the Superintendent of Insurance as part of the Nova Scotia government’s Minor Injury Cap Review process. According to its submission, the Insurance Brokers Association of Nova Scotia (IBANS) says the minor injury cap has “not been an issue for the vast majority of consumers, even consumers who [...]
Ronald Godin, New Brunswick’s consumer advocate for insurance, has released his 2009 annual report. "The year 2009 was a year of continued stability in the auto insurance market and with some signs of negative pressures in the house insurance market," he said. "Auto rates went down for a fifth consecutive year, bringing the average rate [...]
View the video here on your mobile device. Host: When the Ontario government announced its new regulations for auto insurance in the province, a key change is the reduction of medical and rehabilitations expenses from $100,000 to $50,000. ILSTV spoke with Brenda Hollingsworth, a personal injury lawyer with Ottawa’s Auger Hollingsworth. Brenda, what effect will [...]
B.C. New Democrats claim the Liberal government is looting the Insurance Corporation of B.C. to pad provincial coffers when it could have been cutting auto insurance rates, but the government says its actions will actually save tax dollars. Opposition finance critic Bruce Ralston referred to the provincial budget, which indicates the government will take $778 [...]
View the video here on your mobile device. Saskatchewan’s Agriculture Minister Bob Bjornerud has announced details for the province’s 2010 Crop Insurance Program, which will include reduced producer premiums and additional crops eligible for coverage. New Program features in 2010 include coverage for camelina, soybeans, navy beans and honey. In addition, the Contract Price Option [...]
View the video here on your mobile device. The Saskatchewan government is rewarding vehicle owners who “go green.” Owners of hybrid and qualifying fuel-efficient vehicles will receive a 20 per cent rebate from SGI on their 2009 insurance and registration costs. Approximately 10,750 vehicle owners, an almost 44% increase from 2009 are being rewarded with [...]
View the video here on your mobile device. Quality Planning, a company that validates policyholder information for American auto insurers, has released its annual premium rating error report. The report quantifies the errors and discrepancies that result in auto insurers undercharging policyholders. For 2008, Quality Planning estimates that the private passenger auto insurance industry missed [...]
View the video here on your mobile device. The Chubb Corporation reported that net income in the fourth quarter of 2009 was $695 million or $2.03 per share, compared to $407 million or $1.13 per share in the fourth quarter of 2008. Operating income, which the company defines as net income excluding after-tax realized investment [...]
View the video here on your mobile device. Kanetix, the online marketplace for insurance quotes, released the results of its Quebec quarterly car insurance premium study. The study identified a 9.8 per cent average decrease in the lowest auto insurance rates quoted on Kanetix in the third quarter of 2009 compared to the same period [...]
View the video here on your mobile device. The Finance Services Commission of Ontario has approved increases in auto insurance rates averaging 2.5 per cent for the final quarter of 2009. That would bring the average premium increase for 2009 to 8.77 per cent, compared with a 5.6 per cent hike in 2008. Approved rates [...]
View the video here on your mobile device. Ship owners are facing a more modest range of general increases – at 4.54 percent on average – on their protection and indemnity (P&I) premiums at the annual February renewal, as predicted by Aon in its Mid-Term Review. Aon forecasts that the 2010 round of increases will [...]
View the video here on your mobile device. Drivers should be prepared for rising premiums in 2010, according to quarterly auto insurance rate study from Kanetix.ca The study identified a 5.3 per cent average increase in the lowest auto insurance rates quoted on Kanetix in the fourth quarter of 2009 compared to the fourth quarter [...]
