Decisions and Approvals
Decisions are issued further to a hearing. A hearing of the Board is only required in specific circumstances. Pursuant to the Insurance Act:
267.51(1)An insurer shall appear before the Board where the insurer
(a) files rates more than twice in a period of 12 months, or
(b) files rates where the average rate increase is more than 3% greater than the rates charged by it in the 12 months before the date on which it proposes to begin to charge the rates.
Approvals are issued but not published for all other filings that are reviewed by the Board but do not require a hearing.
Quarterly Decisions and Approvals for Private Passenger Vehicles
| Company Name | Decision or Approval | Release Date | Approved Average Rate Change | Effective New Business Date | Effective Renewal Business Date |
|---|---|---|---|---|---|
| XL Specialty Insurance Company | Approval | April 16, 2025 | 0.00% | June 1, 2025 | June 1, 2025 |
| Wawanesa Mutual Insurance Company, The | Decision | April 22, 2025 | 10.34% | July 1, 2025 | July 1, 2025 |
| Sovereign General Insurance Company, The | Approval | May 8, 2025 | 0.00% | May 8, 2025 | May 8, 2025 |
| Primmum Insurance Company | Decision | May 9, 2025 | 15.53% | August 8, 2025 | September 30, 2025 |
| Security National Insurance Company | Decision | May 9, 2025 | 7.31% | August 8, 2025 | September 30, 2025 |
| TD Home and Auto Insurance Company | Decision | May 9, 2025 | 5.54% | August 8, 2025 | September 30, 2025 |
| Liberty Insurance Company of Canada | Approval | May 16, 2025 | 0.00% | August 1, 2025 | August 1, 2025 |
| Definity Insurance Company | Decision | May 28, 2025 | 3.98% | July 1, 2025 | September 4, 2025 |
| Sonnet Insurance Company | Decision | May 28, 2025 | 5.77% | July 1, 2025 | August 15, 2025 |
| Wawanesa Mutual Insurance Company, The | Approval | June 3, 2025 | 0.00% | June 3, 2025 | June 3, 2025 |
| Certas Home and Auto Insurance Company | Approval | June 23, 2025 | 0.00% | June 23, 2025 | June 23, 2025 |
| Personal Insurance Company, The | Approval | June 23, 2025 | 0.00% | June 23, 2025 | June 23, 2025 |
| Company Name | Decision or Approval | Release Date | Approved Average Rate Change | Effective New Business Date | Effective Renewal Business Date |
|---|---|---|---|---|---|
| Promutuel de l'Estuaire | Approval | January 13, 2025 | 0.00% | April 1, 2025 | May 1, 2025 |
| Belair Insurance Company Inc. | Decision | January 24, 2025 | 4.20% | February 20, 2025 | April 21, 2025 |
| Zenith Insurance Company | Approval | January 29, 2025 | 2.93% | July 6, 2025 | August 6, 2025 |
| Belair Insurance Company Inc. | Approval | February 7, 2025 | 0.00% | February 7, 2025 | February 7, 2025 |
| Aviva General Insurance Company | Approval | February 18, 2025 | 3.00% | June 1, 2025 | June 1, 2025 |
| Aviva Insurance Company of Canada | Approval | February 18, 2025 | 3.00% | June 1, 2025 | June 1, 2025 |
| Traders General Insurance Company | Approval | February 18, 2025 | 3.00% | June 1, 2025 | June 1, 2025 |
| Certas Home and Auto Insurance Company | Decision | February 25, 2025 | 18.18% | April 15, 2025 | June 14, 2025 |
| CHUBB Insurance Company of Canada | Approval | February 26, 2025 | -8.45% | July 1, 2025 | July 1, 2025 |
| Federated Insurance Company of Canada | Approval | February 26, 2025 | -4.66% | May 26, 2025 | July 11, 2025 |
| Northbridge General Insurance Corporation | Approval | February 26, 2025 | 0.29% | May 26, 2025 | July 11, 2025 |
| Tokio Marine & Nichido Fire Insurance Co., Ltd. | Approval | February 26, 2025 | 0.00% | May 26, 2025 | July 11, 2025 |
| Verassure Insurance Company | Approval | February 26, 2025 | 0.00% | May 26, 2025 | July 11, 2025 |
| Continental Casualty Company | Approval | March 3, 2025 | 0.00% | July 1, 2025 | July 1, 2025 |
| Hartford Fire Insurance Company | Approval | March 3, 2025 | 0.00% | July 1, 2025 | July 1, 2025 |
| Insurance Company of Prince Edward Island | Approval | March 7, 2025 | 2.93% | September 1, 2025 | September 1, 2025 |
| CAA Insurance Company | Decision | March 14, 2025 | 9.50% | May 1, 2025 | June 15, 2025 |
| Personal Insurance Company, The | Decision | March 14, 2025 | 17.86% | April 15, 2025 | June 14, 2025 |
| CUMIS General Insurance Company | Approval | March 18, 2025 | 1.72% | October 1, 2025 | October 1, 2025 |
| Co-operators General Insurance Company | Approval | March 18, 2025 | 2.92% | November 19, 2025 | December 19, 2025 |
| Allstate Insurance Company of Canada | Approval | March 27, 2025 | 2.99% | October 5, 2025 | November 5, 2025 |
| Pafco Insurance Company | Approval | March 27, 2025 | -0.01% | October 5, 2025 | November 5, 2025 |
| Pembridge Insurance Company | Approval | March 27, 2025 | 2.99% | October 5, 2025 | November 5, 2025 |
| Company Name | Decision or Approval | Release Date | Approved Average Rate Change | Effective New Business Date | Effective Renewal Business Date |
|---|---|---|---|---|---|
| Intact Insurance Company | Approval | October 10, 2024 | 3.00% | March 4, 2025 | April 3, 2025 |
| Dominion of Canada General Insurance Company, The | Approval | November 27, 2024 | 0.00% | November 27, 2024 | November 27, 2024 |
| United General Insurance Corporation | Approval | November 27, 2024 | 2.98% | April 1, 2025 | April 1, 2025 |
| Sompo Japan Insurance Inc. | Approval | December 11, 2024 | 0.00% | June 1, 2025 | June 1, 2025 |
| Company Name | Decision or Approval | Release Date | Approved Average Rate Change | Effective New Business Date | Effective Renewal Business Date |
|---|---|---|---|---|---|
| Facility Association | Approval | July 4, 2024 | 2.40% | November 1, 2024 | November 1, 2024 |
| Promutuel de l'Estuaire | Approval | July 15, 2024 | 0.00% | July 15, 2024 | July 15, 2024 |
| Definity Insurance Company | Approval | July 17, 2024 | 0.00% | July 17, 2024 | July 17, 2024 |
| Echelon General Insurance Company | Approval | July 17, 2024 | 2.77% | March 1, 2025 | March 1, 2025 |
| Sonnet Insurance Company | Approval | July 17, 2024 | 0.00% | July 17, 2024 | July 17, 2024 |
| Dominion of Canada General Insurance Company, The | Decision | July 31, 2024 | 9.04% | December 17, 2024 | January 19, 2025 |
| Allstate Insurance Company of Canada | Decision | August 16, 2024 | 9.75% | October 5, 2024 | November 5, 2024 |
| Pembridge Insurance Company | Decision | August 16, 2024 | 10.25% | October 5, 2024 | November 5, 2024 |
| Portage la Prairie Mutual Insurance Company, The | Approval | August 29, 2024 | 0.00% | August 29, 2024 | August 29, 2024 |
| Pafco Insurance Company | Decision | September 5, 2024 | 3.79% | October 5, 2024 | November 5, 2024 |
[1] - This Insurer is adopting the most recently approved IAO rates. IAO Actuarial Consulting Services Inc. (IAO) is an organization that develops automobile insurance rates for the insurance industry. As such, IAO does not write any insurance policies, but develops rates for private passenger, commercial, miscellaneous and interurban vehicles. At the request of the Board, those rates are submitted for approval. Once approved by the NBIB, insurance companies with smaller lines of business or new entrants to the market may adopt IAO rates for their own use. Typically, these smaller companies do not have enough experience data to develop rates per the Board’s filing guidelines.
See Annual Reports for previous decisions and approvals
Quarterly reports will be released 45 days following the end of the quarter.