Canadian insurance officials issue recommendations regarding self-driving cars

Technology - Self-Driving Cars

The Insurance Bureau of Canada is looking at the future of automated vehicles directly in the face. The Insurance Bureau of Canada (I.B.C.) has issued recommendations regarding self-driving cars and their impact on the industry. The I.B.C. recently released a position paper in which it addressed the issue of automated vehicles. The I.B.C.’s paper was titled, “Auto Insurance for Automated Vehicles: Preparing for the Future of Mobility.” This focus on self-driving cars was published during the bureau’s annual Regulatory Affairs Symposium. The paper looked into the auto insurance industry and…

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Auto insurance customers in Ontario, Canada overpaying by $5 billion

California auto insurance rates - man holding car key

A new Ontario Trial Lawyers Association says policyholders have paid far too much over five years. Ontario, Canada auto insurance customers may have been overpaying by as much as $5 billion on their premiums. This figure accumulated over the last five years, said a new Ontario Trial Lawyers Association report. Claims continued falling as car insurance company profits grew significantly in that time. At the same time that auto insurance customer were making fewer claims, insurers were making more money. In fact, according to the report, insurer profits rose to…

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Auto insurance fraud campaign launched in Canada for month long crackdown

California Insurance company Fraud scam

A new effort in the province of Ontario has State Farm working with the official bureau to reduce scams. State Farm and the auto Insurance Bureau of Canada (IBC) have just announced the start of a partnership for a new STOP AUTO FRAUD campaign that will run throughout the month of March in Ontario in order to provide drivers in the province with more information about the signs of fraud. Vehicle claims fraud is currently estimated to cost the drivers in the province up to $1.6 billion per year. As…

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New auto insurance modifications in Ontario impact coverage for rehabilitation

Drivers in Ontario, Canada, are discovering that due to changes in auto insurance, if their doctors prescribe rehab after a car accident, the associated costs may not be covered by their policies. The brain injury clinic director from St. Michael’s Hospital in Toronto, Dr. Donna Ouchterlony, explained that there have been a growing number of declined claims for treatment plans by insurance companies. She explained that this is having a very deep impact and that “They no longer have to have a doctor review [in order] to refuse [treatment].” She…

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