General Insurance Statistical Agency
For what types of insurance is reporting required?
All licensed automobile insurers operating in Alberta, Ontario, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, Yukon, Nunavut and the Northwest Territories must report specific data. The Automobile Statistical Plan defines the data, the format that it is to be reported in and the timeframes in which it is to be reported to GISA via the IBC (Insurance Bureau of Canada). In Ontario, additional data for Accident Benefit claims is also reported as well as data for Commercial Liability insurance. The Ontario Statutory Accident Benefit Statistical Plan and the Commercial Liability Statistical Plan define the respective data reporting requirements. The manuals for these three statistical plans are available on this website.
Is the data available for general use?
A set of reports is prepared annually based on the data reported to each of these statistical plans. These reports are described in the GISA Catalogue of Statistical Exhibits available on this website. These reports can be purchased as either hard copy printed reports or as electronic files. The electronic files often contain more detailed information than the corresponding printed reports.
Are any of the reports published on this website?
A selection of High Level Data has been extracted from the Actual Loss Ratio exhibits for Private Passenger Automobile for: Alberta, Ontario, the Atlantic Provinces; and the Territories and is presented in tabular and graphical formats.
These graphs use insurance terms like earned premiums and accident year. Where are these terms explained?
A glossary of common insurance terms is available in the GISA Catalogue of Statistical Exhibits and in the Key Definitions, both available on this website
What is the difference between calendar year results and accident year results?
Claims often take several years to be fully resolved, due to lawsuits etc., and closed by the insurance company. Claims costs include both the payments that have been made for the claim and a reserve or estimated amount for how much more will be paid to close the claim. Claims costs on a calendar year or financial year basis will reflect all transactions that occurred in the specified calendar year, regardless of when the accident occurred. “Calendar Year” claims costs include payments made during the calendar year, plus amounts owing on claims at the end of the calendar year less amounts owing for claims at the end of the prior year. “Accident Year” results present the claims costs for the year in which the accident occurred. As new information becomes available, accident year claims costs will be restated until the claim is finally closed. Accident Year statistics can be matched with the premiums in effect at the time the loss occurred to provide a measure of rate adequacy.
Who are the primary users of this data and what is it used for?
The data collected through these three statistical plans is used by both the insurance industry and government regulatory agencies. The main purpose for the collection of this data is to provide premium and claim information to support fair rates. This data enables regulators to ensure that insurance premiums are not inadequate, excessive or unfairly discriminatory and enables them to monitor market structure and performance. Insurance companies use this data to make better and more informed pricing decisions based on aggregate industry experience.