- New JOLT monitoring phone app offers protection against insurance fraud.
- The coming age of self-driving cars: What will auto insurers do when there are no drivers left to insure?
- Uber and the University of Arizona partner to develop mapping technology for self-driving cars.
- A new survey from Kanetix.ca shows Canadians' bad driving habits haven't changed much in three years. We're not so polite.
- An accident runner, a chiropractor, and the push to curb no-fault insurance in Michigan.
- UberX drivers may find themselves without insurance in the event of an accident.
Monday, August 31, 2015
Insurance News - Monday, August 31, 2015:
Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Monday, August 31, 2015:
Monday, August 24, 2015
Insurance News - Monday, August 24, 2015
Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Monday, August 24, 2015:
- The puzzle of reforming Michigan no-fault auto insurance.
- Market dynamics: Uber and the future of automated cars.
- With the help of new technology services such as Uber, Lyft and Sidecar (ride sharing services) and FlightCar, GetAround and RelayRides (car sharing), this industry is among the fastest-growing in America and around the world.
- Factors unrelated to driving can affect car insurance.
- Mapping the link between obesity and car driving.
- Waterloo moves forward to regulate Uber and other ride sharing services.
Thursday, August 20, 2015
Insurance News - Thursday, August 20, 2015
Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Thursday, August 20, 2015:
- Toronto UberX driver involved in serious accident has claim denied by his insurer and now threatens to sue Uber.
- Why self-driving cars will likely raise your taxes.
- Why are auto insurance rates so high in Michigan?
- How driverless vehicles are used (eg solo, carpool) will weigh heavily on their utility and environmental footprint.
- U.S. National Highway Traffic Safety Administration endorses self-driving cars.
- Canadian cities being forced to question value of taxi permit system.
Friday, August 14, 2015
Implementing the 2015 Ontario Budget
The Ontario government continues to implement auto insurance announced in the 2015 Ontario Budget. More regulatory changes are expected in the fall.
Ontario Regulation 664
Regulation 664 has been amended to require that all insurers offer a discount to policyholders for the use of winter tires. The winter tire discount must be made available for contracts issued or renewed on or after January 1, 2016. Insurers are encouraged to implement the discount before January 1, 2016, where feasible.
Insurance companies that do not currently offer a winter tire discount must file an application for approval with FSCO no later than August 28, 2015.
Ontario Regulation 461/96
Regulation 461/96 has been amended to ensure that the deductible amounts for damages for non-pecuniary loss (pain and suffering) reflect the effects of inflation since 2003. The regulation amendments include the following:
Ontario Regulation 664
Regulation 664 has been amended to require that all insurers offer a discount to policyholders for the use of winter tires. The winter tire discount must be made available for contracts issued or renewed on or after January 1, 2016. Insurers are encouraged to implement the discount before January 1, 2016, where feasible.
Insurance companies that do not currently offer a winter tire discount must file an application for approval with FSCO no later than August 28, 2015.
Ontario Regulation 461/96
Regulation 461/96 has been amended to ensure that the deductible amounts for damages for non-pecuniary loss (pain and suffering) reflect the effects of inflation since 2003. The regulation amendments include the following:
- The $30,000 deductible amount prescribed in the case of damages for non-pecuniary loss is adjusted to $36,540 from August 1, 2015 until December 31, 2015. On January 1, 2016 and every subsequent year, this amount will be revised by adjusting the amount by the indexation percentage published under Insurance Act subsection 268.1 (1) for that year.
- The $15,000 deductible amount prescribed in the case of damages for non-pecuniary loss under clause 61 (2) (e) of the Family Law Act, is adjusted to $18,270 from August 1, 2015 until December 31, 2015. On January 1, 2016 and every subsequent year, this amount will be revised by adjusting the amount by the indexation percentage published under Insurance Act subsection 268.1 (1) for that year.
Regulation 461/96 can be found here.
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