Auto Insurance in Ontario, Alberta, Nova Scotia, and Newfoundland & Labrador

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Auto Insurance in Ontario, Alberta, Nova Scotia, and Newfoundland & Labrador"

Transcription

1 Auto Insurance in Ontario, Alberta, Nova Scotia, and Newfoundland & Labrador A Market and Regulatory Update September 17, 2015 Ryan Stein, CIP Director of Policy

2 Ontario (1/13) Direct Written Premium (DWP) Top 10 Auto Insurance Companies Liability 11% Ontario Other 9% Auto 54% Personal Property 17% Commercial 9% Ontario Auto 24% Canada Remainder of Canada's P&C Insurance Industry 76% Company/Group Name Market Share Intact Group 16.75% Desjardins Group 16.50% TD Insurance Group 12.80% Aviva Group 9.22% Allstate Group 7.07% RSA Group 5.84% Cooperators Group 5.81% There are 89 companies selling auto insurance in Ontario. The auto insurance market in Ontario is the largest market in the country, making up more than 50% of the $22 billion P&C insurance market in the province and more than 24% of the $49.5 billion total market in Canada. Economical Group 5.08% RBC Group 4.46% Travelers Group 4.42% Total 87.95% Source: IBC with data from GISA, Facts Book and MSA. 2

3 Ontario (2/13) Private Passenger Vehicle Loss Ratio 110% 90% 70% 50% 30%

4 Ontario (3/13) Total Claims Costs by Coverage as a Percentage of Total Costs PD 15% COLL 11% 2006 COMP 5% BI 27% Other 6% PD 12% 2010 COLL 8% COMP 3% BI 25% Other 3% PD 16% COLL 11% 2014 COMP 4% BI 28% Other 7% AB 36% AB 47% AB 34% $5.75 billion $8.17 billion $7.34 billion 4

5 Ontario (4/13) $300 Med/Rehab Claims Cost per Vehicle $225 $222 $150 $140 $135 $148 $149 $75 $

6 Ontario (5/13) $150 Claimant Examination Cost per Vehicle $128 $100 $50 $49 $43 $48 $46 $

7 Ontario (6/13) $150 Attendant Care Claims Cost per Vehicle $100 $73 $59 $61 $63 $65 $50 $

8 Ontario (7/13) $150 Income Replacement Claims Cost per Vehicle $100 $75 $64 $64 $68 $65 $50 $

9 Ontario (8/13) $60 Non-Earner Claims Cost per Vehicle $40 $20 $14 $15 $16 $21 $22 $

10 Ontario (9/13) $60 Housekeeping Claims Cost per Vehicle $43 $40 $20 $8 $5 $5 $4 $

11 Ontario (10/13) $60 Caregiver Claims Cost per Vehicle $40 $23 $20 $0 $1 $0 $0 $

12 Ontario (11/13) $350 Bodily Injury Claims Cost per Vehicle $312 $300 $280 $280 $296 $297 $250 $200 $

13 Ontario (12/13) $600 Claims Cost per Vehicle by Coverage for 2014 AB BI PD COLL COMP $450 $300 $356 $297 $333 $220 $150 $41 $53 $0 Ontario Alberta Atlantic Canada 13

14 Ontario (13/13) Overview The cost of claims in Ontario has continued to be the highest in Canada The government has introduced additional reforms to control costs For major premium savings, costs will have to decline even further 14

15 Alberta (1/6) Direct Written Premium (DWP) Top 10 Auto Insurance Companies Liability 10% Alberta Other 10% Auto 45% Personal Property 18% Commercial 17% Alberta Auto 8% Canada Remainder of Canada's P&C Insurance Industry 92% Company/Group Name Market Share Intact Group 20.20% TD Insurance Group 16.50% Wawanesa Mutual Insurance Company 14.49% Cooperators Group 7.75% Alberta Motor Association 7.23% Desjardins Group 6.92% Aviva Group 6.59% There are 70 companies selling auto insurance in Alberta. The auto insurance market in Alberta makes up 45% of the $8.7 billion P&C insurance market in the province and 8% of the $49.5 billion total market in Canada. RSA Group 6.14% Economical Group 2.76% Allstate Group 2.61% Total 91.19% Source: IBC with data from Facts Book and MSA. 15

16 Alberta (2/6) Private Passenger Vehicle Loss Ratio 110% 90% 70% 50% 30%

17 Alberta (3/6) Claims Cost per Vehicle by Coverage BI PD AB COLL COMP 2010 $237 $145 $39 $210 $ $252 $153 $39 $227 $ $285 $155 $42 $228 $ $291 $164 $40 $247 $ $307 $164 $41 $253 $183 Annual Change 6.7% 3.1% 1.3% 4.8% (1.8%) Includes ULAE but excludes the health levy. 17

18 Alberta (4/6) 0.65 Bodily Injury Claim Frequency per 100 Vehicles

19 Alberta (5/6) $60,000 Average Cost of a Bodily Injury Claim $48,745 $50,649 $53,660 $40,000 $39,540 $42,431 $20,000 $ Includes ULAE but excludes the health levy. 19

20 Alberta (6/6) Overview The cost of bodily injury claims has been rising Without action to fix the Minor Injury Regulation, the cost of injury claims will continue to rise 20

21 Nova Scotia (1/7) Direct Written Premium (DWP) Top 10 Auto Insurance Companies Liability 8% Auto 46% Nova Scotia Other 9% Personal Property 24% Commercial 13% NS Auto 17% Atlantic Canada Remainder of Atlantic Canada's P&C Insurance Industry 83% Company/Group Name Market Share Intact Group 17.73% TD Insurance Group 12.13% Aviva Group 11.63% RSA Group 11.40% Wawanesa Mutual Insurance Company 9.65% Allstate Group 5.40% Cooperators Group 5.19% There are 62 companies selling auto insurance in Nova Scotia. The auto insurance market in Nova Scotia makes up nearly half of the $1.1 billion P&C insurance market in the province and 17% of the $3.0 billion total market in Atlantic Canada. Portage la Prairie 5.01% Economical Group 4.94% Travelers Group 4.91% Total 87.98% Source: IBC with data from Facts Book and MSA. 21

22 Nova Scotia (2/7) Private Passenger Vehicle Loss Ratio 110% 90% 70% 50% 30%

23 Nova Scotia (3/7) $240 Bodily Injury Claims Cost per Vehicle $180 $173 $173 $174 $158 $137 $140 $120 $60 $ Includes ULAE but excludes the health levy. 23

24 Nova Scotia (4/7) $60,000 Average Cost of a Bodily Injury Claim $40,000 $32,300 $32,675 $40,962 $41,471 $42,005 $43,207 $20,000 $ Includes ULAE but excludes the health levy. 24

25 Nova Scotia (5/7) Bodily Injury Claim Frequency per 100 Vehicles (Indexed 2005=100) NS NB

26 Nova Scotia (6/7) $60 Accident Benefits Claims Cost Per Vehicle $54 $53 $43 $47 $48 $40 $32 $20 $

27 Nova Scotia (7/7) Overview The reforms were expected to increase the cost of bodily injury and accident benefits claims Whether costs will continue to rise or settle at these higher levels is unknown 27

28 Newfoundland and Labrador (1/7) Direct Written Premium (DWP) Top 10 Auto Insurance Companies Newfoundland and Labrador Atlantic Canada Company/Group Name Market Share Intact Group 27.60% Liability 7% Auto 51% Other 10% Personal Property 19% Commercial 13% NL Auto 13% Remainder of Atlantic Canada's P&C Insurance Industry 87% RSA Group 26.63% Aviva Group 21.66% Cooperators Group 9.14% TD Insurance Group 5.86% Travelers Group 2.68% RBC Group 2.26% There are 50 companies selling auto insurance in Newfoundland and Labrador. The auto insurance market in Newfoundland and Labrador makes up over half of the $777 million P&C insurance market in the province and 13% of the $3.0 billion total market in Atlantic Canada. Desjardins Group 1.87% Economical Group 1.85% Northbridge Group 0.32% Total 99.85% Source: IBC with data from Facts Book and MSA. 28

29 Newfoundland and Labrador (2/7) Private Passenger Vehicle Loss Ratio 110% 90% 70% 50% 30%

30 Newfoundland and Labrador (3/7) $1,000 Total Claims Cost per Vehicle by Province $819 $750 $739 $615 $635 $560 $604 $500 $472 $419 $533 $250 $0 NL NB NS 30

31 Newfoundland and Labrador (4/7) Claims Cost per Vehicle for Traffic Collision-Related Coverage 2014 $500 BI PD COLL AB $400 $398 $300 $200 $211 $168 $160 $180 $152 $100 $109 $107 $109 $51 $66 $48 $0 NL NB NS 31

32 Newfoundland and Labrador (5/7) 5 Claim Frequency per 100 Vehicles by Coverage BI PD COLL AB NL NB NS 32

33 Newfoundland and Labrador (6/7) $75,000 $60,000 $65,637 Average Claim Cost by Coverage 2014 BI PD COLL AB $50,822 $49,349 $45,000 $30,000 $15,000 $4,357 $6,238 $4,570 $4,404 $13,044 $5,641 $4,363 $7,256 $5,531 $0 NL NB NS 33

34 Newfoundland and Labrador (7/7) Overview The underwriting results have been the worst in Atlantic Canada The cost of bodily injury claims has been disproportionately high Reforms are needed to reduce and stabilize the cost of bodily injury claims 34

Automobile Insurance Third Party Liability Bodily Injury Closed Claim Study in Ontario

Automobile Insurance Third Party Liability Bodily Injury Closed Claim Study in Ontario Automobile Insurance Third Party Liability Bodily Injury Closed Claim Study in Ontario August 13, 2014 Contents Introduction... 2 Reliances and Limitations... 2 Selected Observations... 3 Data... 5 Claim

More information

J.D. Power Reports: One in 10 Canadian Customers Switch Auto Insurance Carriers

J.D. Power Reports: One in 10 Canadian Customers Switch Auto Insurance Carriers w J.D. Power Reports: One in 10 Canadian Customers Switch Auto Carriers Belairdirect, Co-operators and The Personal Each Rank Highest In Customer Satisfaction in Their Respective Region TORONTO: 6 May

More information

Returns on Equity for Automobile Insurance Companies in Ontario. Prepared for the Ontario Trial Lawyers Association

Returns on Equity for Automobile Insurance Companies in Ontario. Prepared for the Ontario Trial Lawyers Association Returns on Equity for Automobile Insurance Companies in Ontario Prepared for the Ontario Trial Lawyers Association Dr. Fred Lazar Associate Professor, Economics Schulich School of Business and Faculty

More information

Customer Satisfaction with Insurance Providers by Segment, 2010 vs. 2009 (based on a 1,000-point scale) in 2010

Customer Satisfaction with Insurance Providers by Segment, 2010 vs. 2009 (based on a 1,000-point scale) in 2010 J.D. Power and Associates Reports: Despite Widespread Premium Increases, Customer Satisfaction with Auto Insurance Providers in Canada Improves from 2009 Grey Power and Intact Insurance Each Rank Highest

More information

J.D. Power Reports: Homeowners in Canada Filing More Insurance Claims for Storm Damage, While Satisfaction with Insurance Providers Improves

J.D. Power Reports: Homeowners in Canada Filing More Insurance Claims for Storm Damage, While Satisfaction with Insurance Providers Improves w J.D. Power Reports: Homeowners in Canada Filing More Insurance Claims for Storm Damage, While Satisfaction with Insurance Providers Improves BCAA, The Personal and SSQ General Each Rank Highest In Home

More information

Atlantic Provinces 71 COMMUNITIES

Atlantic Provinces 71 COMMUNITIES NATIONAL STUDY OF AUTOMOBILE INSURANCE RATES Third Release Atlantic Provinces 71 COMMUNITIES vs. British Columbia, Alberta Saskatchewan, Manitoba & Ontario 3,985,162 Auto Insurance Rates Compared October

More information

Automobile Insurance: Evolution and Trends

Automobile Insurance: Evolution and Trends Automobile Insurance: Evolution and Trends AAIARD Montreal, November 6th, 2009 Germain Denoncourt, FCAS, FCIA Summary Prehistory: before 1930 1930: major innovation More recent past Auto insurance in Canada

More information

Presented to the. Board of Commissioners of Public Utilities MELOCHE MONNEX COMMENTS ON

Presented to the. Board of Commissioners of Public Utilities MELOCHE MONNEX COMMENTS ON MELOCHE MONNEX COMMENTS ON THE REVIEW OF AUTOMOBILE INSURANCE IN NEWFOUNDLAND AND LABRADOR Presented to the Board of Commissioners of Public Utilities February 2005 TABLE OF CONTENT PREAMBLE... 3 INTRODUCTION...

More information

PUBLIC UTILITIES BOARD AUTOMOBILE INSURANCE REVIEW BACKGROUNDER

PUBLIC UTILITIES BOARD AUTOMOBILE INSURANCE REVIEW BACKGROUNDER PUBLIC UTILITIES BOARD AUTOMOBILE INSURANCE REVIEW BACKGROUNDER PUBLIC UTILITIES BOARD WHO WE ARE AND WHAT WE DO The Public Utilities Board is an independent, quasi-judicial regulatory agency. The Board

More information

SUBMISSION TO THE ALBERTA AUTOMOBILE INSURANCE RATE BOARD PUBLIC HEARING AUGUST 2014

SUBMISSION TO THE ALBERTA AUTOMOBILE INSURANCE RATE BOARD PUBLIC HEARING AUGUST 2014 SUBMISSION TO THE ALBERTA AUTOMOBILE INSURANCE RATE BOARD PUBLIC HEARING AUGUST 2014 TABLE OF CONTENTS PREAMBLE INTRODUCTION REVIEW OF PREMIUM LEVEL FOR BASIC COVERAGE I. Loss trends II. Causes for increasing

More information

February 11, 2005. Review of Alberta Automobile Insurance Experience. as of June 30, 2004

February 11, 2005. Review of Alberta Automobile Insurance Experience. as of June 30, 2004 February 11, 2005 Review of Alberta Automobile Insurance Experience as of June 30, 2004 Contents 1. Introduction and Executive Summary...1 Data and Reliances...2 Limitations...3 2. Summary of Findings...4

More information

ANNUAL REPORT BOARD OF COMMISSIONERS OF PUBLIC UTILITIES ON THE OPERATIONS CARRIED OUT UNDER THE AUTOMOBILE INSURANCE ACT

ANNUAL REPORT BOARD OF COMMISSIONERS OF PUBLIC UTILITIES ON THE OPERATIONS CARRIED OUT UNDER THE AUTOMOBILE INSURANCE ACT ANNUAL REPORT OF THE BOARD OF COMMISSIONERS OF PUBLIC UTILITIES ON THE OPERATIONS CARRIED OUT UNDER THE AUTOMOBILE INSURANCE ACT Chapter A-22, R.S.N. 1990, AS AMENDED FOR THE PERIOD APRIL 1, 2002 TO MARCH

More information

4.0 Health Expenditure in the Provinces and Territories

4.0 Health Expenditure in the Provinces and Territories 4.0 Health Expenditure in the Provinces and Territories Health expenditure per capita varies among provinces/territories because of different age distributions. xii Population density and geography also

More information

Industry Loss Development Data for Ontario Private Passenger Automobile Insurance and Estimated Loss Costs

Industry Loss Development Data for Ontario Private Passenger Automobile Insurance and Estimated Loss Costs Introduction This document provides information on the analysis of Ontario Private Passenger Automobile loss trend rates, as prepared by FSCO s Chief Actuary, Automobile Insurance Division. The document

More information

AUTO INSURANCE REFORM MORE CHANGES ON THE HORIZON

AUTO INSURANCE REFORM MORE CHANGES ON THE HORIZON AUTO INSURANCE REFORM MORE CHANGES ON THE HORIZON Presented by: Teresa (Teri) Mitchell, FCIP, CRM, CLA CIAA Ontario Region 1 st Vice-President On November 2 nd, Ontario Liberal Leader Dalton McGuinty presented

More information

Alberta Automobile Insurance Rate Board 2013 Annual Report. For the Year Ended December 31, 2013

Alberta Automobile Insurance Rate Board 2013 Annual Report. For the Year Ended December 31, 2013 Alberta Automobile Insurance Rate Board 2013 Annual Report For the Year Ended December 31, 2013 2 0 13 Automobile Insurance Rate Board 2013 Annual Report For the Year Ended December 31, 2013 LETTER OF

More information

UNIFUND ASSURANCE COMPANY Submission to the PUB. 2005 Automobile Insurance Review Hearings

UNIFUND ASSURANCE COMPANY Submission to the PUB. 2005 Automobile Insurance Review Hearings UNIFUND ASSURANCE COMPANY Submission to the PUB 2005 Automobile Insurance Review Hearings March 11, 2005 Unifund Assurance Company Unifund Assurance Company is one of the largest underwriters of personal

More information

Shifting Landscape in Canadian Insurance Distribution

Shifting Landscape in Canadian Insurance Distribution Shifting Landscape in Canadian Insurance Distribution Prepared for: 2011 KPMG Insurance Issues Conference November, 2011 Lubo Li Senior Director J.D. Power and Associates Changes in Insurance Distribution

More information

Alberta Automobile Insurance Rate Board 2014 Annual Report. For the Year Ended December 31, 2014

Alberta Automobile Insurance Rate Board 2014 Annual Report. For the Year Ended December 31, 2014 Alberta Automobile Insurance Rate Board 2014 Annual Report For the Year Ended December 31, 2014 2 0 1 4 Automobile Insurance Rate Board 2014 Annual Report For the Year Ended December 31, 2014 LETTER OF

More information

Summary of Important Changes to Your Policy You Now Have More Choice

Summary of Important Changes to Your Policy You Now Have More Choice Summary of Important Changes to Your Policy You Now Have More Choice Recent reforms introduced by the Ontario government will give you more choice over the coverages and price you pay for auto insurance.

More information

ANNUAL INDUSTRY-WIDE ADJUSTMENT OF RATES FOR BASIC COVERAGE EFFECTIVE NOVEMBER 1, 2013 SECTION 4 OF THE AUTOMOBILE INSURANCE PREMIUMS REGULATION

ANNUAL INDUSTRY-WIDE ADJUSTMENT OF RATES FOR BASIC COVERAGE EFFECTIVE NOVEMBER 1, 2013 SECTION 4 OF THE AUTOMOBILE INSURANCE PREMIUMS REGULATION ANNUAL INDUSTRY-WIDE ADJUSTMENT OF RATES FOR BASIC COVERAGE EFFECTIVE NOVEMBER 1, 2013 SECTION 4 OF THE AUTOMOBILE INSURANCE PREMIUMS REGULATION ALBERTA AUTOMOBILE INSURANCE RATE BOARD BOARD DECISION REPORT

More information

ALERT ONTARIO S AUTO INSURANCE CHANGED ON SEPTEMBER 1, 2010 INTERNATIONAL

ALERT ONTARIO S AUTO INSURANCE CHANGED ON SEPTEMBER 1, 2010 INTERNATIONAL INTERNATIONAL ALERT September 2010 Issue 45 ONTARIO S AUTO INSURANCE CHANGED ON SEPTEMBER 1, 2010 www.willis.com Over the last few years automobile insurance in Ontario has been a hot topic for both the

More information

Response to the Auto Insurance Working Group s Report

Response to the Auto Insurance Working Group s Report Response to the Auto Insurance Working Group s Report Department of Justice and Attorney General June 2012 Table of Contents Background... 3 Response to Auto Insurance Working Group s Recommendations:

More information

Dear Valued Clients, Thank you for making your Insurance Dynamic! Kindest Regards, DYNAMIC INSURANCE BROKERS

Dear Valued Clients, Thank you for making your Insurance Dynamic! Kindest Regards, DYNAMIC INSURANCE BROKERS Dear Valued Clients, The Financial Service Commission of Ontario (FSCO), the provincial government regulator of Auto Insurance is introducing reforms effective September 1, 2010. Periodically (usually

More information

Return on Equity for Automobile Insurance Companies in Ontario. Prepared for the Ontario Trial Lawyers Association

Return on Equity for Automobile Insurance Companies in Ontario. Prepared for the Ontario Trial Lawyers Association Return on Equity for Automobile Insurance Companies in Ontario Prepared for the Ontario Trial Lawyers Association Dr. Fred Lazar Associate Professor, Economics Schulich School of Business and Faculty of

More information

C14 Automobile Insurance Part 1 (British Columbia) Addendum February 2010 Revised

C14 Automobile Insurance Part 1 (British Columbia) Addendum February 2010 Revised C14 Automobile Insurance Part 1 (British Columbia) Addendum February 2010 Revised (To be used with 2008 edition of the textbook.) Study 2, page 2 Inverse liability coverage has been added to the Contents

More information

CUSTOMIZED AUTO INSURANCE

CUSTOMIZED AUTO INSURANCE CUSTOMIZED AUTO INSURANCE Leonard Kunka, L.L.B. Thomson, Rogers The Liberal government has recently announced that as part of their commitment to improve the automobile insurance product for Ontario motorists,

More information

Facts. of the Property and Casualty Insurance Industry in Canada

Facts. of the Property and Casualty Insurance Industry in Canada 2015 Facts of the Property and Casualty Insurance Industry in Canada Facts of the Property and Casualty Insurance Industry in Canada 2015 Facts of the Property and Casualty Insurance Industry in Canada

More information

Automobile Insurance Rate Board Annual Review for 2015

Automobile Insurance Rate Board Annual Review for 2015 Automobile Insurance Rate Board Annual Review for 2015 Presentation by Aviva Canada Inc. Sharon Ludlow, President, Aviva Insurance Company of Canada Karin Ots, Senior Vice-President, Regulatory &Government

More information

Submission to the Alberta Automobile Insurance Rate Board. 2012 Annual Review of Automobile Insurance Premiums for Basic Coverage.

Submission to the Alberta Automobile Insurance Rate Board. 2012 Annual Review of Automobile Insurance Premiums for Basic Coverage. Submission to the Alberta Automobile Insurance Rate Board 2012 Annual Review of Automobile Insurance Premiums for Basic Coverage May 31, 2012 This submission is made on behalf of The Dominion of Canada

More information

ONTARIO AUTO INSURANCE REFORM: A GAME OF WHACK-A-MOLE *

ONTARIO AUTO INSURANCE REFORM: A GAME OF WHACK-A-MOLE * ARTICLES ACADÉMIQUES ACADEMIC ARTICLES Assurances et gestion des risques, Juillet-Décembre 2015, Vol. 82 (3-4) Insurance and risk management, July-December 2015, Vol. 82 (3-4) ONTARIO AUTO INSURANCE REFORM:

More information

Newfoundland and Labrador Board of Commissioners of Public Utilities. Automobile Insurance Filing Guidelines

Newfoundland and Labrador Board of Commissioners of Public Utilities. Automobile Insurance Filing Guidelines Newfoundland and Labrador Board of Commissioners of Public Utilities Automobile Insurance Filing Guidelines September 1, 2011 Table of Contents 1.0 GENERAL INFORMATION... 1 1.1 Board Responsibility...

More information

The Insurance Institute of Canada www.insuranceinstitute.ca. Ontario Automobile Insurance Textbook Addendum August 2010 (revised)

The Insurance Institute of Canada www.insuranceinstitute.ca. Ontario Automobile Insurance Textbook Addendum August 2010 (revised) The Insurance Institute of Canada www.insuranceinstitute.ca Ontario Automobile Insurance Textbook Addendum August 2010 (revised) (To be used with the 2007 edition.) Study 1, page 4, at the end of the excerpt

More information

2012 Annual Balance Reconciliation Return. Instructions & Line Guide

2012 Annual Balance Reconciliation Return. Instructions & Line Guide 2012 Annual Balance Reconciliation Return Instructions & Line Guide Table of Contents 1. Overview... 1 1.1 Purpose of the ABR... 1 1.2 Reporting Requirements... 1 1.3 What s new in 2013... 1 1.4 Obtaining

More information

AUTOMOBILE INSURANCE: BEYOND THE NEW BRUNSWICK BORDER

AUTOMOBILE INSURANCE: BEYOND THE NEW BRUNSWICK BORDER The Canadian Bar Association New Brunswick Branch Mid Winter 2010 Make It Count! February 4-6, 2010 AUTOMOBILE INSURANCE: BEYOND THE NEW BRUNSWICK BORDER Presented By: Richard C. Halpern Partner Thomson,

More information

Your Auto Insurance Policy ONTARIO. is Changing

Your Auto Insurance Policy ONTARIO. is Changing Your Auto Insurance Policy ONTARIO is Changing Your auto insurance policy is changing Your Ontario auto insurance benefits are changing to make your premiums more affordable and provide you with greater

More information

SUBMISSION TO THE STANDING COMMITTEE ON GENERAL GOVERNMENT FINANCIAL SERVICES COMMISSION OF ONTARIO

SUBMISSION TO THE STANDING COMMITTEE ON GENERAL GOVERNMENT FINANCIAL SERVICES COMMISSION OF ONTARIO SUBMISSION TO THE STANDING COMMITTEE ON GENERAL GOVERNMENT FINANCIAL SERVICES COMMISSION OF ONTARIO April 15, 2013 Table of Contents SUBMISSION TO THE STANDING COMMITTEE ON GENERAL GOVERNMENT 1. INTRODUCTION...

More information

Newfoundland and Labrador Board of Commissioners of Public Utilities. Newfoundland and Labrador Automobile Insurance Expense Survey Instructions

Newfoundland and Labrador Board of Commissioners of Public Utilities. Newfoundland and Labrador Automobile Insurance Expense Survey Instructions Newfoundland and Labrador Board of Commissioners of Public Utilities Newfoundland and Labrador Automobile Insurance Expense Survey Instructions TABLE OF CONTENTS INTRODUCTION AND GENERAL INSTRUCTIONS...

More information

2014 Facts. of the Property & Casualty Insurance Industry

2014 Facts. of the Property & Casualty Insurance Industry 2014 Facts of the Property & Casualty Insurance Industry FACTS of the Property & Casualty Insurance Industry in Canada 2014 The FACTS of the Property & Casualty Insurance Industry is published by Insurance

More information

J.D. Power Reports: Home Insurance Industry Not Meeting Gen Y Expectations for Customer Interaction

J.D. Power Reports: Home Insurance Industry Not Meeting Gen Y Expectations for Customer Interaction w J.D. Power Reports: Home Insurance Industry Not Meeting Gen Y Expectations for Customer Interaction BCAA, The Co-operators and The Personal All Rank Highest In Home Insurance Satisfaction in Their Respective

More information

Satisfaction with Auto Insurance in Canada Improves For the First Time in Five Years, says J.D. Power Study

Satisfaction with Auto Insurance in Canada Improves For the First Time in Five Years, says J.D. Power Study Satisfaction with Auto Insurance in Canada Improves For the First Time in Five Years, says J.D. Power Study The Co-operators Ranks Highest in Customer Satisfaction in Three Regions, The Personal Ranks

More information

ANNUAL REPORT 2 0 1 3

ANNUAL REPORT 2 0 1 3 ANNUAL REPORT 2013 March 1, 2014 The Honourable Troy Lifford Minister of Justice Province of New Brunswick PO Box 6000 Fredericton, NB E3B 5H1 Dear Minister: On behalf of the Members of the New Brunswick

More information

VOTING AT ANNUAL GENERAL MEETING

VOTING AT ANNUAL GENERAL MEETING VOTING AT ANNUAL GENERAL MEETING ONTARIO VOTING BY MEMBERS AT AN ANNUAL GENERAL OR SPECIAL MEETING, OR BY MAIL, SHALL BE BASED ON THE MEMBER S TOTAL VOLUME OF VOLUNTARY AUTOMOBILE DIRECT WRITTEN PREMIUM

More information

Report on the Three Year Review of Automobile Insurance, 2014 Page 1

Report on the Three Year Review of Automobile Insurance, 2014 Page 1 Report on the Three Year Review of Automobile Insurance, 2014 Page 1 Table of Contents Table of Contents... 2 Executive Summary... 4 Introduction... 7 1 How Insurance Markets Work... 7 1.1 Key Principles

More information

A Small Business Assessment of Workers Compensation:

A Small Business Assessment of Workers Compensation: A Small Business Assessment of Workers Compensation: 2015 Small Business Workers Compensation Index DSP0016-1512 A Small Business Assessment of Workers Compensation: 2015 Small Business Workers Compensation

More information

Canadian Property & Casualty Insurance Market Briefing

Canadian Property & Casualty Insurance Market Briefing A.M. Best Company s Canadian Property & Casualty Insurance Market Briefing Jackie Lentz Senior Financial Analyst Joel Silverthorn Senior Financial Analyst 24 September 2015 Disclaimer AM Best Company (AMB)

More information

GOVERNMENT OF NEWFOUNDLAND AND LABRADOR. Bulletin TO ALL INSURANCE COMPANIES LICENSED FOR AUTOMOBILE INSURANCE

GOVERNMENT OF NEWFOUNDLAND AND LABRADOR. Bulletin TO ALL INSURANCE COMPANIES LICENSED FOR AUTOMOBILE INSURANCE Department of Government Services Consumer and Commercial Affairs Branch Financial Services Regulation Division GOVERNMENT OF NEWFOUNDLAND AND LABRADOR Bulletin Issue 8 - JULY 2005 TO ALL INSURANCE COMPANIES

More information

J.D. Power Reports: Auto Insurers Continue to Miss the Mark to Improve the Customer Experience in Canada

J.D. Power Reports: Auto Insurers Continue to Miss the Mark to Improve the Customer Experience in Canada w J.D. Power Reports: Auto Insurers Continue to Miss the Mark to Improve the Customer Experience in Canada The Co-operators, and The Personal Each Rank Highest in Customer Satisfaction In Their Respective

More information

COMMERCIAL LIABILITY STATISTICAL PLAN MANUAL

COMMERCIAL LIABILITY STATISTICAL PLAN MANUAL COMMERCIAL LIABILITY STATISTICAL PLAN MANUAL General Insurance Statistical Agency/ Agence statistique d assurance generale 17 th floor 5160 Yonge Street Toronto, Ontario M2N 6L9 www.gisa asag.ca REVISION

More information

Newfoundland & Labrador BOARD OF COMMISSIONERS OF PUBLIC UTILITIES

Newfoundland & Labrador BOARD OF COMMISSIONERS OF PUBLIC UTILITIES Newfoundland & Labrador BOARD OF COMMISSIONERS OF PUBLIC UTILITIES ANNUAL REPORT OF THE BOARD OF COMMISSIONERS OF PUBLIC UTILITIES ON OPERATIONS CARRIED OUT UNDER THE AUTOMOBILE INSURANCE ACT Chapter A-,

More information

(Ontario) Use this Certificate for policies first issued or renewed between September 1, 2010 and August 31, 2011

(Ontario) Use this Certificate for policies first issued or renewed between September 1, 2010 and August 31, 2011 Insurer (Ontario) Use this Certificate for policies first issued or renewed between September 1, 2010 and August 31, 2011 This is your. Contact your Broker/Agent with any questions or if you require clarification

More information

Proposed Amendments to the Fatal Accidents Act Discussion Paper. Prepared by the Department of Justice

Proposed Amendments to the Fatal Accidents Act Discussion Paper. Prepared by the Department of Justice Proposed Amendments to the Fatal Accidents Act Discussion Paper Prepared by the Department of Justice Contents About the proposed Amendments to the Fatal Accident Act... 3 Background and Purpose... 4 Proposed

More information

Ontario School Bus Rating Example

Ontario School Bus Rating Example How to Rate a School Bus Note If there are any discrepancies between the instructions provided below and the rules in the Public Section of the manual, the rules take precedence. 1. Determine rating territory

More information

CANADIAN INTER-COMPANY ARBITRATION AGREEMENT

CANADIAN INTER-COMPANY ARBITRATION AGREEMENT A ACE INA Insurance Aetna Casualty & Surety Co. of Canada (now Travelers Insurance Company of Canada) Aegon Insurance Company (U.K.) Limited Affiliated FM Insurance Company Alberta Motor Association Ins.

More information

AUTOMOBILE INSURANCE COVERAGE FOR NS HOPA SUBSCRIBING MEMBERS

AUTOMOBILE INSURANCE COVERAGE FOR NS HOPA SUBSCRIBING MEMBERS Risk Management Bulletin for Subscribing Members January 2014 AUTOMOBILE INSURANCE COVERAGE FOR SUBSCRIBING MEMBERS Insurance coverage provided by and Aviva to Subscribing Members includes automobile liability

More information

WORKING GROUP # 8: PREQUALIFICATION, SOURCE LISTS AND STANDING OFFERS. Conference Call, November 30, 2005 RECORD OF DECISIONS

WORKING GROUP # 8: PREQUALIFICATION, SOURCE LISTS AND STANDING OFFERS. Conference Call, November 30, 2005 RECORD OF DECISIONS WORKING GROUP # 8: PREQUALIFICATION, SOURCE LISTS AND STANDING OFFERS RECORD OF DECISIONS Present: Newfoundland and Labrador, Nova Scotia, Quebec, Manitoba, Saskatchewan, Alberta, British Columbia and

More information

The False Promise of Government Auto Insurance: Estimating Average Auto Insurance Premiums in Ten Provinces, 2004-05

The False Promise of Government Auto Insurance: Estimating Average Auto Insurance Premiums in Ten Provinces, 2004-05 The False Promise of Government Auto Insurance: Estimating Average Auto Insurance Premiums in Ten Provinces, 2004-05 By Brett J. Skinner Contents Executive Summary / 2 Introduction / 3 Private sector versus

More information

CANADIAN INTER-COMPANY ARBITRATION AGREEMENT

CANADIAN INTER-COMPANY ARBITRATION AGREEMENT A ACE INA Insurance Aetna Casualty & Surety Co. of Canada (Travelers Insurance Company of Canada as of May 1, 2012) Aegon Insurance Company (U.K.) Limited Affiliated FM Insurance Company Alberta Motor

More information

House for sale (Dept. of Finance) Real Estate

House for sale (Dept. of Finance) Real Estate House for sale (Dept. of Finance) Real Estate The residential real estate market turned in another solid performance in 2010. Strong demand for housing during the first half of 2010 was fuelled by record

More information

Newfoundland & Labrador BOARD OF COMMISSIONERS OF PUBLIC UTILITIES

Newfoundland & Labrador BOARD OF COMMISSIONERS OF PUBLIC UTILITIES Newfoundland & Labrador BOARD OF COMMISSIONERS OF PUBLIC UTILITIES ANNUAL REPORT ON OPERATIONS CARRIED OUT UNDER THE AUTOMOBILE INSURANCE ACT Chapter A-22, R.S.N.L. 1990, AS AMENDED FOR THE PERIOD APRIL

More information

Fraser Alert. Canadians Celebrate Tax Freedom Day on June 6. June 2009. Main Conclusions. Market solutions to public policy problems

Fraser Alert. Canadians Celebrate Tax Freedom Day on June 6. June 2009. Main Conclusions. Market solutions to public policy problems Fraser Alert Market solutions to public policy problems June 2009 Canadians Celebrate Tax Freedom Day on June 6 Main Conclusions On Tax Freedom Day, the average Canadian family has earned enough money

More information

Additional Tables, Youth Smoking Survey 2008-09

Additional Tables, Youth Smoking Survey 2008-09 Additional Tables, Youth Smoking Survey 2008-09 Table 1. cigar use in last 30 days, cigarillo/little cigar/cigar use in last 30 days, cigarette use in the last 30 days, self defining as a smoker, Canada,

More information

The Road Ahead A Planned Approach to Auto Insurance Solutions

The Road Ahead A Planned Approach to Auto Insurance Solutions The Road Ahead A Planned Approach to Auto Insurance Solutions Financial Institutions Division March 2003 Minister s Letter This Government, like you and other consumers, is concerned about the effect of

More information

Canada Post Group Economic Impact on Canada. Corporate Planning and Strategy

Canada Post Group Economic Impact on Canada. Corporate Planning and Strategy Canada Post Group Economic Impact on Canada Corporate Planning and Strategy July 27 Section 1 1. The National Impact 2. Impact on the Provinces Corporate Planning and Strategy, July 27 Page 2 Study of

More information

Mortgage Loan Insurance Business Supplement

Mortgage Loan Insurance Business Supplement CANADA MORTGAGE AND HOUSING CORPORATION Mortgage Loan Insurance Business Supplement YEAR-END December 31, March 31, The following Mortgage Loan Insurance Business Supplement is prepared for the year ending

More information

APPLICATION FOR INSURANCE

APPLICATION FOR INSURANCE APPLICATION FOR INSURANCE PROFESSIONAL LIABILITY INSURANCE FOR FINANCIAL AGENCIES & FIRMS THIS IS AN APPLICATION FOR A "CLAIMS MADE" POLICY (Words and expressions, other than in the headings, printed in

More information

RISK RESPONSIBILITY REALITY APPENDIX D AUTOMOBILE INSURANCE IN CANADA

RISK RESPONSIBILITY REALITY APPENDIX D AUTOMOBILE INSURANCE IN CANADA The appendix includes relevant clauses drawn from the Compulsory Minimum Insurance Coverage for Private Passenger Vehicles as prepared by the Insurance Bureau of Canada (FACTS 2005 p. 12-15) used with

More information

Review of Insurance Corporation of British Columbia

Review of Insurance Corporation of British Columbia Review of Insurance Corporation of British Columbia Internal Audit & Advisory Services Ministry of Finance Table of Contents Section Page No. Abbreviations... i Executive Summary... 1 Introduction...

More information

Concerning the Cap on Pain and Suffering Awards for Minor Injuries

Concerning the Cap on Pain and Suffering Awards for Minor Injuries Discussion Paper Concerning the Cap on Pain and Suffering Awards for Minor Injuries Office of the Superintendent of Insurance January, 2010 Introduction The Province of Nova Scotia regulates automobile

More information

Information Canada s Financial Services Sector

Information Canada s Financial Services Sector Property and Casualty Insurance in Canada Overview Information Canada s Financial Services Sector The property and casualty (P&C) insurance industry in Canada provides coverage for all risks other than

More information

ICBC's July 5. 2004 Filin~

ICBC's July 5. 2004 Filin~ krsuronrrecolporplkn dbrftlsh Insurance Exeoutive Office Mailing address: Corpwation We 517-151 W. Espfanade PO Box 2606 Fmncial Allocation Mdmdobgy of Wsh Nadh Vancouver BC V7M 3Hg 348 W. Georgia St.

More information

Intact Financial Corporation (TSX: IFC) Investor Presentation May 2012

Intact Financial Corporation (TSX: IFC) Investor Presentation May 2012 Intact Financial Corporation (TSX: IFC) Investor Presentation May 2012 Canada s leader in auto, home and business insurance Who we are 1 Distinct brands Largest P&C insurer in Canada $6.5 billion in direct

More information

No-Fault Concepts in Automobile Insurance

No-Fault Concepts in Automobile Insurance The Insurance Institute of Canada www.insuranceinstitute.ca C14 Automobile Insurance Part 1 (Ontario) Textbook Addendum Revised September 2010 (To be used with the 2009 edition.) Study 1, page 12, replace

More information

Consultation Document Automobile Insurance Reform

Consultation Document Automobile Insurance Reform Consultation Document Automobile Insurance Reform The Department of Government Services is addressing several issues related to automobile insurance reform which are in addition to the Terms of Reference

More information

New Brunswick Insurance Board 2011 Annual Report

New Brunswick Insurance Board 2011 Annual Report ANNUAL REPORT 2011 March 1, 2012 The Honourable Marie-Claude Blais, Q.C. Minister of Justice and Consumer Affairs Province of New Brunswick PO Box 6000 Fredericton, NB E3B 5H1 Dear Minister: On behalf

More information

Canadian Motor Vehicle Traffic Collision Statistics. Collected in cooperation with the Canadian Council of Motor Transport Administrators

Canadian Motor Vehicle Traffic Collision Statistics. Collected in cooperation with the Canadian Council of Motor Transport Administrators Canadian Motor Vehicle Traffic Collision Statistics 2014 Collected in cooperation with the Canadian Council of Motor Transport Administrators Her Majesty the Queen in Right of Canada, represented by the

More information

Consistent Results Across Most of The Board

Consistent Results Across Most of The Board Canadian Health Care Trend Survey Results 2015 Consistent Results Across Most of The Board Our 2015 Health Care Trend Survey demonstrates that drug, health and dental cost trend factors have remained consistent

More information

The Regulation and Supply of Nurse Practitioners in Canada: Health Expenditure Estimates

The Regulation and Supply of Nurse Practitioners in Canada: Health Expenditure Estimates The Regulation and Supply of Nurse Practitioners in Canada: Preliminary Technical Provincial Appendix and Territorial Government Health Expenditure Estimates 1974 1975 to 2004 2005 The Regulation and

More information

2015 GISA Catalogue of Statistical Information Revised July 2015

2015 GISA Catalogue of Statistical Information Revised July 2015 2015 GISA Catalogue of Statistical Information Revised July 2015 General Insurance Statistical Agency / Agence statistique d assurance générale Table of Contents Introduction. 3 Catalogue Information Guide

More information

Ontario Application for Automobile Insurance

Ontario Application for Automobile Insurance Ontario Application for Automobile Insurance Driver's Form (O.A.F. 2) Notice to Applicant This is your Application for Automobile Insurance. Check it carefully and notify your Broker/Agent of any errors

More information

Alberta Automobile Insurance Rate Board

Alberta Automobile Insurance Rate Board Alberta Automobile Insurance Rate Board Annual Review of Automobile Insurance Premiums for Basic Coverage June 15, 2010 Submission David J. Simpson, M.B.A., FCIP President & CEO 1 May 28, 2010 1 2 3 4

More information

National Instrument Mutual Funds. Amendment Instrument

National Instrument Mutual Funds. Amendment Instrument National Instrument 81-102 Mutual Funds Amendment Instrument 1. The Table of Contents of National Instrument 81-102 Mutual Funds is amended by adding the following after Appendix B-1, Appendix B-2 and

More information

Non-Life Insurance in Canada, Key Trends and Opportunities to 2019

Non-Life Insurance in Canada, Key Trends and Opportunities to 2019 Brochure More information from http://www.researchandmarkets.com/reports/3508625/ Non-Life Insurance in Canada, Key Trends and Opportunities to 2019 Description: The 'Non-Life Insurance in Canada, Key

More information

CMHC Mortgage Loan Insurance Overview

CMHC Mortgage Loan Insurance Overview CMHC Mortgage Loan Insurance view Mortgage loan insurance is typically required when homebuyers make a down payment of less than 2% of the purchase price. Mortgage loan insurance helps protect lenders

More information

APPLICATION FOR PROFESSIONAL AND COMMERCIAL GENERAL LIABILITY INSURANCE FOR MEMBERS OF THE CANADIAN ASSOCIATION OF OPTOMETRISTS

APPLICATION FOR PROFESSIONAL AND COMMERCIAL GENERAL LIABILITY INSURANCE FOR MEMBERS OF THE CANADIAN ASSOCIATION OF OPTOMETRISTS Canadian Association of Optometrists APPLICATION FOR PROFESSIONAL AND COMMERCIAL GENERAL LIABILITY INSURANCE FOR MEMBERS OF THE CANADIAN ASSOCIATION OF OPTOMETRISTS Name of Applicant: Business/Corporation

More information

A L B E R T A L A B O U R F O R C E P R O F I L E S W o m e n

A L B E R T A L A B O U R F O R C E P R O F I L E S W o m e n A L B E R T A L A B O U R F O R C E P R O F I L E S W o m e n 2 0 1 5 Highlights For the purpose of this profile, the population is defined as women 15+. Working Age Population of Women in Alberta The

More information

INSURANCE FOR VOLUNTARY ORGANIZATIONS ARE YOUR VOLUNTEERS AND CLIENTS COVERED?

INSURANCE FOR VOLUNTARY ORGANIZATIONS ARE YOUR VOLUNTEERS AND CLIENTS COVERED? INSURANCE FOR VOLUNTARY ORGANIZATIONS ARE YOUR VOLUNTEERS AND CLIENTS COVERED? BUSINESS INSURANCE VISIT IBC.CA Nearly 12 million Canadians or 45% of the population volunteer time through a group or organization,

More information

The Impact of Regulation on the Availability and Profitability of Auto Insurance in Canada

The Impact of Regulation on the Availability and Profitability of Auto Insurance in Canada ARTICLES académiques academic articles Assurances et gestion des risques, vol. 81(3-4), octobre-décembre 2013, 197-224 Insurance and Risk Management, vol. 81(3-4), October-December 2013, 197-224 The Impact

More information

DECISION 2016 NSUARB 96 M07375 NOVA SCOTIA UTILITY AND REVIEW BOARD IN THE MATTER OF THE INSURANCE ACT. - and - CO-OPERATORS GENERAL INSURANCE COMPANY

DECISION 2016 NSUARB 96 M07375 NOVA SCOTIA UTILITY AND REVIEW BOARD IN THE MATTER OF THE INSURANCE ACT. - and - CO-OPERATORS GENERAL INSURANCE COMPANY DECISION 2016 NSUARB 96 M07375 NOVA SCOTIA UTILITY AND REVIEW BOARD IN THE MATTER OF THE INSURANCE ACT - and - IN THE MATTER OF AN APPLICATION by CO-OPERATORS GENERAL INSURANCE COMPANY for approval to

More information

Auto Insurance Sample Premium Tables 2014/15

Auto Insurance Sample Premium Tables 2014/15 Auto Insurance Sample Premium Tables 2014/15 Prepared by Commonwealth of State Corporation Commission Bureau of Insurance P.O. Box 1157 Richmond, 23218 (804) 371-9185 (877) 310-6560 Website: www.scc.virginia.gov/boi

More information

DATA ELEMENTS FOR CERTIFICATE OF AUTOMOBILE INSURANCE

DATA ELEMENTS FOR CERTIFICATE OF AUTOMOBILE INSURANCE DATA ELEMENTS FOR CERTIFICATE OF AUTOMOBILE INSURANCE Note: 1. All elements are data fields unless otherwise stated. 2. 'Text' elements must use the exact words and be printed with every certificate. 3.

More information

AUTOMOBILE INSURANCE IN THE PROVINCE OF ONTARIO

AUTOMOBILE INSURANCE IN THE PROVINCE OF ONTARIO AUTOMOBILE INSURANCE IN THE PROVINCE OF ONTARIO 159 AUTOMOBILE INSURANCE IN THE PROVINCE OF ONTARIO BY JOHN EDWARDS INTRODUCTION During 1936, 138 insurers reported automobile insurance premiums written

More information

Chapter 5 Departments of Health and Justice and Consumer Affairs Health Levy

Chapter 5 Departments of Health and Justice and Consumer Affairs Health Levy Departments of Health and Justice and Consumer Affairs Contents Background................................................. 159 Scope..................................................... 160 Overall conclusion.............................................

More information

NEW BRUNSWICK S INSURANCE INDUSTRY:

NEW BRUNSWICK S INSURANCE INDUSTRY: NEW BRUNSWICK S INSURANCE INDUSTRY: AN ECONOMIC GROWTH ENGINE Prepared for: Insurance Bureau of Canada Prepared by Jupia Consultants Inc. February 2012 Table of Contents Page 1. Introduction... 3 1.1 Context...

More information

Report to Government. March 2005

Report to Government. March 2005 Report to Government March 2005 Board of Commissioners March 31, 2005 of Public Utilities 120 Torbay Road P.O. Box 21040 St. John s, NL A1A 5B2 Phone Number 709-726-8600 Website: www.pub.nl.ca The Honourable

More information

Financial Services Commission of Ontario. Technical Notes for Automobile Insurance. Rates and Risk Classification Filings

Financial Services Commission of Ontario. Technical Notes for Automobile Insurance. Rates and Risk Classification Filings Rate and Risk Classification Filings A. Introduction All insurers writing non-fleet automobile insurance on Ontario Automobile Policy (OAP) 1 or OAP 2 must have their rates and risk classification systems

More information

Potential product reforms, such as raising the limit in the MIRon compensation for general damages.

Potential product reforms, such as raising the limit in the MIRon compensation for general damages. IBC -llo..*..til~ May 31,2013 B jc A I Insuran~e Bureau of Canada ~{~ ~ Bureau d assurance du Canada William A. Adams Vice-President, Western & Pacific 10104-103 Avenue, Suite 2603, Edmonton, AS T5J OH8

More information

Application For Commercial Umbrella Liability Insurance

Application For Commercial Umbrella Liability Insurance Application For Commercial Umbrella Liability Insurance Intact Insurance Company All Questions Must be Answered Completely. PLEASE PRINT. Agent/Broker Head Office: 1200-321 6 th Ave SW Calgary, AB T2P

More information