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Few categories had as big a jump year on year than auto insurance, which soared 22% from March 2023, the most significant year-on-year jump in that category since 1976.
As a result of record losses incurred by insurers due to the escalating cost of repairs, climate calamities, and severe car accidents, auto insurance premiums increased by an alarming 24% in 2023 ...
Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. Auto insurance rates rose 2.6% in March and are up 22% from a year ago. Premium costs have been marching ...
Canada Protection Plan. Empire Life. Equitable Life of Canada [6] Federated Insurance Company of Canada. Gore Mutual Insurance Company. Great American Insurance Company. Great-West Lifeco, Inc. — insurance-centered financial holding company. Canada Life. Green Shield Canada.
The Ontario Automobile Policy ( OAP 1, also called the Owner's Policy) is a regulation under the Ontario Insurance Act enacted by the Parliament of Ontario to cover financial damages to persons and property after a car crash. All private companies registered to sell auto insurance in Ontario, are required to use the OAP for their private car ...
Automotive manufacturing is one of Canada's largest industrial sectors, accounting for 10% of manufacturing GDP and 23% of manufacturing trade. Canada produces passenger vehicles, trucks and buses, auto parts and systems, truck bodies and trailers, as well as tires and machine, tools, dies and molds (MTDM). The auto industry directly employs ...
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