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No matter where you live in Canada, the cost of auto insurance has likely increased over the past few years. It’s not just a problem in this country. Rising auto insurance premiums are also a big issue in the United States.

Top five reasons auto insurance premiums have increased No matter where you live in Canada, the cost of auto insurance has likely increased over the past few years. It’s not just a problem in this country. Rising auto insurance premiums are also a big issue in the United States. To understand why, it’s important to understand the main factors contrib...

The Bank of Canada marked a major turning point in its fight against inflation on Wednesday as it lowered its key interest rate for the first time in more than four years, making it the first central bank in the G7 to cut rates.

Bank of Canada cuts key interest rate for first time in more than four years The Bank of Canada lowered its key interest rate for the first time in more than four years, the first central bank in the G7 to cut rates.

Ratehub.ca has surveyed drivers to understand Canadians’ perspectives on auto insurance. The findings highlight significant behaviours and strategies motorists are adopting in response to increasing premiums.

More than half of Canadian drivers switch insurers due to price Survey shows concerning finding among 74% of respondents

Have your insurance rates increased lately?

Let Olsen-Sottile Insurance Brokers Inc. help you re-evaluate and find the best options available. As a family-owned business serving Niagara since 1980, we are committed to providing reliable and affordable insurance.

Get your free online quote here: https://www.olsen-sottile.com/site/free-online-quote

The federal government released its National Action Plan on Combatting Auto Theft. Following the release of the action plan, Celyeste Power, President and CEO, Insurance Bureau of Canada (IBC), issued the following statement.

IBC commends the federal government on the release of its National Action Plan on Combatting Auto Theft IBC commends the federal government on the release of its National Action Plan on Combatting Auto Theft. Many of the property and casualty insurance industry’s public policy solutions are captured in the comprehensive and informed plan. We thank the government and law enforcement agencies that con...

A new report from Insurance Bureau of Canada (IBC) recommends policies that governments can adopt to help stabilize commercial insurance premiums for businesses and reduce cost pressures within the commercial insurance market.

Report highlights how government can improve insurance market conditions for Canadian businesses

Lengthy wait times for auto repairs over the past three years, sparked by supply chain problems and other factors, have cost insurers a bundle, especially if clients have generous allocations for rental cars.

Hidden consequences of longer car-repair wait times Over the past few months, there's evidence emerging those extended rental times have led to secondary claims being reported by adjusters

Since the legalization of cannabis in 2018, Canadian retailers have been pushed to come up with holistic strategies to protect themselves. With more cannabis dispensaries and delivery services open for business, risks have grown.

Budding risks in the cannabis sector VP explains the current and emerging challenges in a rapidly evolving industry

The landscape of workplace fraud is rapidly evolving, marked by increasingly sophisticated schemes that often go undetected for years. What were once isolated incidents have become indicative of a broader trend that threatens the integrity of businesses worldwide.

Inside jobs: tackling corporate fraud as risks further evolve "A downturn in the economy could give rise to more instances"

An urgent need exists for more comprehensive training of new commercial truck drivers, says a new report commissioned by the Insurance Bureau of Canada.

Why insurers urge better training for new commercial truck drivers More comprehensive training of new commercial truck drivers is required, says a new report commissioned by the Insurance Bureau of Canada.

Drivers working for rideshare companies, such as Uber, have good access to information about additional insurance coverages they should be purchasing. But they don’t always buy those policies.

Why rideshare drivers take unnecessary coverage risks Websites for rideshare companies, like Uber, give drivers information about what extra insurance drivers should buy, but drivers don't comply

The Government of Ontario released its 2024 Budget: Building a Better Ontario. Following the budget’s release, Amanda Dean, Vice-President, Ontario and Atlantic, Insurance Bureau of Canada (IBC), issued the following statement:

IBC welcomes auto insurance reforms and investment to combat auto theft outlined in Ontario’s 2024 budget Today, the Government of Ontario released its 2024 Budget:

Inside jobs: tackling corporate fraud as risks further evolve

Inside jobs: tackling corporate fraud as risks further evolve "A downturn in the economy could give rise to more instances"

As cyber threats increase and criminals become more sophisticated in their approach to cyber attacks and breaches, it’s more important than ever for businesses and organizations to take proactive measures to help protect themselves.

It’s equally important that employees take the right steps to be more cyber aware at work, as cyber criminals often target employees as a way to gain access to their workplace systems or networks.

But just how vigilant are Canadian businesses and their employees when it comes to protecting against cyber threats?

Cyber Savvy Canada Learn about the proactive measures businesses and employees can take to help reduce their cyber risk and take Insurance Bureau of Canada’s Cyber Savvy Challenge.

IBC applauds the Task Force for Housing & Climate’s report that issued recommendations on how Canada should be building the 5.8 million new homes the country needs by 2030. Addressing Canada’s housing supply shortage is crucial and new homes must be built to enhance the resilience of new and existing communities. A recent Abacus Data poll indicates 4 in 5 Canadians (84%) believe it is crucial to develop new housing in a manner that is resilient to the impacts of climate change.

IBC applauds housing recommendations by Task Force for Housing & Climate Today, the Task Force for Housing & Climate released its report

Property and casualty insurance industry professionals and a car manufacturing industry representative are endorsing the idea of establishing a national auto theft office, an idea floated at Ottawa’s National Summit on Combatting Auto Theft earlier this month.

Summit discusses a new national office on auto theft P&C stakeholders hope federal government funding will be funnelled toward the launch of a national auto theft office.

You may have heard warnings about “social engineering.” While the term is simply a fancy way of describing fooling people into giving away their personal info online, the repercussions are quite serious.

Examples of social engineering include phishing, which occurs when a scammer sends people fake emails, or smishing, when the same tricks are deployed via text messaging. Anyone – old, young or somewhere in between – can fall for identity-based scams.

Read the full article here: https://www.insurance-canada.ca/2024/02/22/trinity-social-engineering-digital-decoys/

As the Toronto Public Library gradually works to restore full service following a crippling October cyberattack, experts are warning that public organizations need to find ways to bolster their ransomware defences, despite having limited resources.

Toronto cyberattacks show public bodies need to boost security, experts say Experts are warning that public organizations need to find ways to bolster their ransomware defences, despite having limited resources.

No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk.

What's to Come in 2024: Hard Market, AI Expansion, More Catastrophes, Network Consolidation No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report,

Insurance policyholder advocates believe reinsurance program is needed amid insurer pullbacks

The 'red flags' in INSURE Act natural catastrophe reinsurance program bill

Hiring a tow truck in Ontario just got get safer. Here’s what you need to know

Hiring a tow truck in Ontario just got get safer. Here’s what you need to know These new regulations mean consumers across Ontario now have the same rights when requesting or receiving towing services.

Following the Government of Canada’s announcement of a National Summit on Combatting Auto Theft, Craig Stewart, Vice President, Climate Change and Federal Issues, Insurance Bureau of Canada (IBC), issued the following statement.

IBC commends the federal government for convening National Summit on Combatting Auto Theft Following the Government of Canada’s announcement of a

Tax filing season is on the horizon, which means it’s time for Canadian brokerages and insurance companies to consider how they’ll treat GST, HST or QST payments.

How brokerage mergers could create tax benefits Canadian brokerages and insurance companies need to consider how they'll treat GST, HST of QST payments before tax filing season starts

This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a return to supply/demand balance. What a difference in tone from last year’s grueling January renewals.

A Return to Balance: Brokers Say Reinsurance Renewals Were 'Stable' This year's January reinsurance renewals were described by brokers as "stable," "predictable," "orderly," "calmer," "disciplined," with "increased

Canadians are still eager to travel in the coming year despite economic pressures, according to a new study from Allianz Global Assistance.

Canadians still eager to travel despite economic pressures – Allianz Global Assistance Vacation confidence recovering post-pandemic

Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and Rubber Association of Canada (TRAC).

Why more Canadian drivers are using winter tires Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022.