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1. Actuarial data is their competitive intelligence. If company A experiences high claims with a certain segment they may want to bow out quietly while allowing their competitor's to take on what they perceive as a higher risk. 2. this is each of our personal track records. Much like creditors...

lol it's good to be back. The next one will be better refined.

Think about this - if someone buys a second house, do they get a break on the price of the house because they already own one? Do they get discounts on hydro, taxes, gas etc because they can only physically be in one at a time? Or do people simply do the math, look at the second home in it's...

The majority of your premium on any bike is allocated to the accident benefits portion of the policy. Fixing the human being on the bike is where most claims dollars are paid.

The automobile product in Ontario does not carry any sales tax. The values of everything you insure is miles higher today than it was 30 years ago. The cost to replace/repair those items (property, automobiles etc) is also much higher today than three decades ago. There are several people in...

You will have to call some reputable brokers or agents. As a percentage it is a large increase for sure. The reality is the insurance marketplace is undergoing many changes and premiums are starting to rise.

A motorcyclist who tried to sue his insurer for renewing his policy and deducting money from his account will not have his case heard before the Supreme Court of Canada. The top court announced Jan. 31 it has turned down an application from Oliver Bajor to hear an appeal of an Ontario court...

It used to be that driver training was a differentiating factor. It would seem in today's environment that nearly everyone who has been licensed in the last 10 years has gone through the driver training program. Hence it doesn't carry the same weight in differentiating one person from another.

The insurance marketplace is changing. Much like 2% mortgage coming up for renewal your original terms may not be available to you any longer. It would be in your interest to make a couple calls.

It is also important to note that the other person has one year to sue you. If there were children in the car, they get until their 19th birthday to sue. If you are sued, and you didn't report the incident to your insurer in a 'reasonable' period of time, your insurer may be at liberty to deny...

I can't speak for State Farm, as I don't work for them, but I can tell you the insurance industry does consider it a conviction.

Have you asked the adjuster where the car is? They should know - it is still legally your car until you accept the offer. Let them know you need to recover your personal belongings and plates. That should be step one. If your items are not in the car, then you'll need to take further action. In...

How long ago was this?

It's hard to guide you without specifics. The MIB (Medical Information Bureau) may have data from the first application, whenever anything is done regarding the MIB, we are required to be forthright and explicit with you regarding it's use. You should have received some written disclosure.

If you're asking if your medical's can be accessed, the answer is usually. Speak to a reputable broker, level with them, and they can point you in the right direction.

Your claims history is tracked by CGI - you can order your reports by following the link. http://portal.cgi-ibs.com/en-CA/iis/Pages/ConsumerAutoPlusReport.aspx If there is a discrepancy between the data and reality, you can contact CGI or FSCO as described in the link. Yes the companies can...

I'm not out of the insurance business at all. I am writing commercial policies these days and am no longer focused on bikes. That being said, I still have my personal interest in bikes and in the community. I am always available to answer questions, but because of the amount of time I spend on...

correct.

Section 2.2.1 of the Ontario Automobile Policy reads: A newly acquired automobile is an automobile or trailer that you acquire as owner and that is not covered under any other policy. It can be either a replacement or an additional automobile. The replacement automobile will have the same...

I would strongly recommend that you leave your liability limit at $1M, in fact I'd suggest looking as high as $2M. That being said, I'd also try to arrange your policy in such a way that you'll be renewing shortly after your birthday. At 19 years old, your rating variables are changing quickly...