New auto insurance product may help ride-share companies in Canada

auto insurance ride share

Aviva Canada aims to launch a new auto insurance product in Canada in February New auto insurance coverage for those in Canada that use their own vehicles to transport paying passengers may soon be available in February. The new coverage comes from Aviva Canada, which is looking to close gaps in the auto insurance sector, especially where ride-sharing services are concerned. This coverage may be a boon for Uber, which has come under fire recently due to concerns regarding the insurance coverage that it provides its drivers. Uber has been…

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Auto insurance premiums are falling in Ontario

Toronto Ontario Canada Auto Insurance News

Premiums for auto coverage continue to decline in Ontario, though slower than expected Auto insurance premiums continue to fall in Ontario, Canada, though they are falling at a slower rate than government officials had promised. Two years ago, Finance Minister Charles Sousa promised that auto insurance rates would fall by 15%, but this ambitious promise has proven difficult to fulfill. According to the Financial Services Commission of Ontario, rates are, indeed, falling, but at a much slower rate that many government officials had anticipated. Rates have fallen by approximately 6.96%,…

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Auto insurance rates continue to rise in Ontario

Toronto Ontario Canada Auto Insurance News

Despite government efforts, premiums are on the rise in Ontario Auto insurance premiums in Ontario, Canada, continue to rise, despite promises being made by the government. In April of this year, the government had announced that insurance rates were down by 0.95% during the first quarter of the year, which is a far cry from the average 15% reduction that it had promised to achieve by next month. In Ontario, premiums continue to rise, and government action may not be enough to mitigate the issue. Several companies seek to raise…

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Usage based auto insurance gains more attention in Ontario

Telematics Usage based auto insurance

Usage based insurance plans are starting to see widespread adoption Usage based auto insurance is beginning to pick up momentum in Ontario, Canada, but the Financial Services Commission of Ontario has been slow to grant approval for the technology used for this type of insurance coverage. Insurance companies operating in the province have begun applying for approval to use the technology that is capable of monitoring a person’s driving habits. Insurers suggest that this technology could help lower insurance costs for drivers significantly, depending on how often they actually drive.…

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