Ever since Ferdinand Porsche developed the world’s first gasoline-electric vehicle in 1900 (pictured), manufacturers have toyed with the concept of using alternate energy sources to drive gasoline-powered cars. But the hybrid gas-electric vehicle did not become widely available until the Toyota Prius was introduced into Japan in 1997. Once the novelty of the eco-conscious driver, hybrids are  more...

It’s a fact: fraud costs in Ontario vehicle insurance dramatically exceed that of any other part of the country. And Ontario drivers are paying heavily for that dubious distinction. It is calculated that of Ontario’s $9 billion in annual auto premiums, $1.3 billion is paid out on suspected fraudulent claims –  and not for glass and metal.   more...

Tunnel problems?  At the very end, is that gas that shoots out from the car?  What is the deal with this tunnel?! Submitted by: Kevin McTie more...

Automobile insurance policies in Ontario are pretty complicated – the current government-mandated policy wording is 71 pages in length – and that’s excluding  the Statutory Accident Benefits Schedule (SABS). Some parts of the coverage are mandatory and others are optional. But every vehicle owner should consider that some claims happen to the vehicle while it is  more...

With the next provincial election less than 18 months away, Dalton McGuinty’s Liberal government is hoping the proposed package of vehicle insurance changes will bring premium relief to Ontario motorists. Unlike the last 3 years, premiums are now increasing rapidly. According to one published report, rate increases for the first quarter of 2010 averaged almost 12% over  more...

A recent study by the Allstate Foundation reported surprising findings among teen drivers in the U.S. Among the survey’s results: Almost 1 in 4 teens (both genders) admit to driving while drinking. Nearly half of the girls surveyed admitted they are likely to speed by more than 16kph over the speed limit; for boys the figure was 36% More  more...

Car Insurance – 2010 Prediction – The bad news: it’s going to be much more expensive to insure private passenger vehicles in Ontario this year. The Financial Services Commission of Ontario (FSCO) – the government body controlling auto premiums in this province – says the average vehicle insurance rate has risen for 10 consecutive quarters. But, according to FSCO-monitored results, even  more...

In the wake of the global financial sector meltdown, contemporary jargon is sprinkled with references to “risk appetite”, “enterprise risk management”, “risk assessment matrix”, etc. All of this fits under the general heading of “risk management”. But what is it? The term “risk” didn’t even appear in the English language until the 17th century, replacing what  more...

Finance Minister Dwight Duncan announced over 40 changes to Ontario’s auto insurance system last Monday. Will this package bring premiums down?? Or even freeze vehicle insurance rate increases over the longer term?? The short answers: no and no. The main changes are: * offering choice for non-catastrophic medical and rehabilitation costs. Policyholders can opt to drop to a limit of $50,000 from  more...

Ontario’s car insurance industry is undergoing significant change: -the provincial government is overdue on its promised 5-year product reform update. -rates are rising sufficiently to warrant media attention – often with a cumulative annual impact of +10%. -a few insurers are “dumping” policyholders, even though they may not have had a claim. Does this make it the right time  more...