New data from Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased year over year in Canada during the first quarter of 2023.
According to the data, quarter over quarter, premium rate change decreased for both Personal Auto and Personal Property compared to Q422.
Analysts reported that for Personal Auto lines, all provinces witnessed an increase compared to Q122 with Quebec recording the highest increase at 10.4% and Ontario and the lowest with 3.0%.
