Regulator calls for submissions from stakeholders
Alberta’s Superintendent of Insurance has announced sanctions against two insurers.The regulator said it has issued penalties of $114,000 against ING Insurance Co. of Canada and $94,000 against Unifund Assurance Co. for contravening the Insurance Act.The superintendent said that, following an investigation, it “determined that both insurance companies had cancelled and/or refused to renew insurance policies […]
Personal injuries not sufficiently connected to use of motor vehicles
Legislation could save lives
Accident protection option now available before policy term expires
Insurer reintroduces 15% group discount
ING Insurance and ING Novex announced today that they are reimbursing approximately 51,000 policyholders as a result of an error that prevented some of its Ontario customers from receiving their Claims Free Renewal (CFR) discount to which they were entitled. This is a discount the company rewards its customers at renewal after being claims free […]
Echelon General subsidiary signs reinsurance treaty with unit of AssuranceAmerica
Drivers born in certain months are prone to getting more tickets, or having more accidents
During the past 10 years, the Canadian automobile insurance industry’s underwriting results have changed dramatically as reflected by the significant variations in the direct loss ratio according to a special report by A.M. Best Co.From 1996 to 1998, the industry direct loss ratio remained flat at around 75. Premiums did not grow and claims incurred […]