Ontario Insurance News Roundup for October 4, 2021

by Oct 4, 2021Driving, Living, Preventing, Riding, Working

The Ontario Insurance News Roundup for the week of October 4, 2021 looks at flooding, condo insurance rates, the tow truck turf war, the hardening realty insurance markets, expensive cities for home insurance, motorcycle insurance in Ontario.

Southwestern Ontario authorities make move after years of massive flooding – Insurance Business Canada

Local authorities in several southwestern Ontario communities are prioritizing flood mitigation projects five years after a massive rainstorm caused heavy flooding in the area.

Condo insurance rates in Canada – what’s happening? – Insurance Business Canada

Condominium insurance continues to climb, and this surge is likely to last through the first two quarters of 2022, a new report from LowestRates.ca says.

Fallout from tow truck turf war prompts new rules for OPP officers – CTV News

The Ontario Provincial Police is introducing new checks and balances for its members ordering tow truck services in the wake of an investigation that charged four officers with taking secret commissions and breach of trust.

Why Is Motorcycle Insurance So Expensive In Ontario? – Nerds magazine

Insurance in Ontario is mandatory, but it can be pretty expensive. Having insurance protects you and other drivers on the road from any potential damages or bodily injuries. Insurance companies assess the possible risks and make your insurance policy based on that.

RATESDOTCA Reveals the Most Expensive Ontario Cities for Home Insurance – Financial Post

A new report from RATESDOTCA found that Ontarians residing in suburban neighbourhoods such as Lasalle in Windsor, are paying more than double the home insurance premium in comparison to affluent GTA neighbourhoods such as Woodbridge.

How the hard market is hitting the residential realty insurance market – report – Insurance Business Canada

The hardening of Canada’s property and casualty (P&C) segment has forced many brokers to scramble to find adequate insurance limits for their clients as available capacity also decreases.

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