Commercial insurance is a popular topic among those in the trucking industry and other commercial sectors in the economy.In response to the increasing attention pertaining to commercial insurance, the Insurance Bureau of Canada (IBC) has formed the National Commercial Insurance Task Force, with the Canadian Trucking Alliance (CTA) being a key member.
The Task Force will begin meetings this month in Alberta and travelling across the rest of the country in the Winter-Spring of 2020. The IBC Task Force has a mandate to:
Educate and inform consumers, governments and stakeholders on the factors contributing to the current availability and affordability challenges with commercial insurance;
Learn from different industry partners, consumers and stakeholders about their experiences related to challenges around insurance availability and affordability;
Develop a report with recommendations that aim to improve insurance availability and affordability for industry partners, consumers and stakeholders.
“The Canadian Trucking Alliance (CTA) thanks and applauds IBC for taking leadership on this issue and establishing this process,” said CTA President Stephen Laskowski. “This is an opportunity to explore with the insurance industry what changes the membership would like to see in the area of commercial insurance.”
In preparation for this process, CTA has begun surveying its membership on potential areas for improvement they would like to see in commercial insurance.
“Early responses highlighted by members include issues related to insurance fraud, trucking sector specific issues, insurance personnel training, and length of claim process,” said CTA’s Senior VP Policy Geoff Wood. “Members will have an opportunity to be engaged in this process through CTA staff, or in some cases more directly by attending regional meetings of the Task Force. Either way we encourage the membership to get involved.”