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Soaring auto theft rates are blamed for the cost of Toronto’s auto theft claims rocketing up 561 per cent over the past five years, says the Insurance Bureau of Canada.
Buying a home in Toronto can be daunting, especially considering that the average home price in the city has hovered around the million-dollar mark...
Drivers may see higher premiums for their electric vehicles as the insurance industry adjusts to the shift from gas-powered cars to electric alternatives, a new report suggests.
EVs are computers on wheels and batteries are central to their operations, said Victor Adesanya, co-author of the report and vice-president of insurance at Morningstar DBRS' Global Financial Institutions Group.
Financial Services Regulatory Authority has approved allowing insurers to increase rates by up to 25 per cent in some cases for the first quarter of 2024