Car Insurance Roundup, May 3, 2016


Ontario’s car insurance-go-round | Agar | Columnists | Opinion | Toronto Sun

Here is the deal with auto insurance in Ontario: We’re getting less for more and we’re getting the runaround on why that is. In 2014, prior to the last election, Premier Kathleen Wynne was faced with a threat from the NDP that it would not support her budget. With a minority government and facing defeat in the legislature, Wynne appeased the NDP by promising she’d lower auto insurance premiums by 15%. 


Car insurance premiums to plummet as self-driving cars cut accidents 80% | Motoring Research

Volvo is warning the car insurance industry of “seismic challenges” as self-driving cars’ ability to eliminate car crashes is expected to see premium prices plummet. An 80% reduction in car crashes is expected by 2035 – but even by 2020, $20 billion (£13.5 billion) could be wiped off car insurance premiums, says research by Swiss Re and HERE. As car insurance premiums generate more than 40% of all non-life insurance premiums – the biggest single slice – Volvo is thus warning the insurance industry of significant challenges to its current business model. 


Confused driver sends insurers photos of her head from all angles – instead of her car – Mirror Online

Confused driver sends insurers photos of her head from all angles – instead of her car. Mum Susan Santos was asked for ‘front, back and side’ images by the firm to verify her claim for damage… but she didn’t realise they meant her vehicle. 


Despite hefty premium hike, insurance firms fail to deliver – Saudi Gazette

Motorists have complained about the poor performance of car insurance companies despite the hefty increase in premiums they impose on vehicle owners. Many citizens accuse the companies of violating the agreement terms and delaying payment of compensations. Sultan Al-Yamani, a Saudi, complained about the delay in receiving compensation after an accident as per the terms of the agreement. 


Buying Auto Insurance is an Essential Investment for Every Car Owner! | news.sys-con.com

Having auto insurance is very important for any motorist. Without proper financial coverage, a car owner is in danger of paying expensive reimbursements to other motorists. In almost every state, liability car insurance is mandatory and driving without coverage or with less than minimum coverage is illegal. 


Analysts at Macquarie Maintain their Underperform rating for Admiral Group PLC (LON:ADM). The Target Price per Share Given is GBX 1510.00 | Franklin Independent

Macquarie have a GBX 1510.00 target on the stock. The target would suggest a potential downside of -21.21% from Admiral Group PLC (LON:ADM)’s current stock price. This rating was released in a research note on 3 May. 


FTSE falls on poor Chinese and UK manufacturing, but RSA leads insurers higher | Business | The Guardian

Leading shares have started the shortened trading week in a downbeat mood after weak Chinese manufacturing data raised new concerns about the world’s second largest economy. 


Self-driving cars will be good for safety but bad for insurers, predicts Warren Buffett

Replacing human drivers with self-driving vehicles will make transportation safer but hurt the car insurance industry, says Warren Buffett, the CEO of Geico-parent Berkshire Hathaway, according to Autoblog. 


GR resident claims stray soccer balls causing damage | Fox17

Situated across the street from Sibley Elementary School, Greenland has lived in his home since 1988. It wasn’t until after Sibley completed renovations that Greenland claims he began experiencing cracked windshields, broken windows to his home and damage to his landscape all because of stray soccer balls. 


Rental cars are a smart choice for travelers – Robesonian – robesonian.com

Most of us don’t think about the cost of driving our car, other than the price of gasoline. Each year the federal government estimates the cost of driving a mile, which is 54 cents for 2016 — down from 57.5 cents in 2015. So if you decide to drive from Lumberton to Cross Creek Mall to do a little shopping, you better be getting some good sales: The 68-mile roundtrip costs $37 if you have an “average” car. 


COMMENT: Is it time for our advertising watchdog to get tough on gender stereotyping? – The Sunday Business Post

A health insurance company broadcast a television ad that implied only a mother makes the beds or cares for an ill child, according to complaints. Another advert for car insurance only targeted women – and caused one complainant to say that the insurance company in question was saying women are better drivers than men. 


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