Desjardins to buy State Farm | GTAMotorcycle.com

Desjardins to buy State Farm

M

Mongrel

Well-known member
More consolidation, fewer choices for all concerned. Soon we will have but a handful of companies dictating terms to all in Ontario.

Wonder what the competition watchdog is doing about this.
 
Um....does Desjardin do SS? =/
 
Thanks for posting -- I was about to post the article myself!

This is pretty big news and definitely not something that I was expecting. I do know that Desjardins has been hiring a lot of actuaries recently, possibly in anticipation of this acquisition. Currently, all of State Farm's Canadian market actuarial/pricing work is done at the State Farm head office in Chicago. Given the relatively small volume of Canadian business relative to their US business (eg. California's population exceeds all of Canada combined), I'm guessing that State Farm doesn't give as much attention to their Canadian rating as a Canadian insurer like Desjardins would. It will certainly be interesting to see what changes Desjardins brings to the State Farm rates in the future -- hopefully they continue with writing Sport Bikes!
 
油井緋色;2121286 said:
Um....does Desjardin do SS? =/
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Not in the way State Farm does. Hopefully Desjardins don't replace sf's models with theirs, otherwise no one will be riding SS bikes before they're 30. If they do, I'm guessing the market is going to be flooded with sellers who can no longer afford to insure their bikes.
 
spaceboy said:
Not in the way State Farm does. Hopefully Desjardins don't replace sf's models with theirs, otherwise no one will be riding SS bikes before they're 30. If they do, I'm guessing the market is going to be flooded with sellers who can no longer afford to insure their bikes.
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Sweet, can't wait ;)
 
Another reason not to get an SS - Ontario moto insurers being on the verge of wiping out SS owners under 25 years old.
 
My bad.... It's Belair insurance that don't. I just talked to bunch of these for my car and got confused by all the info.
 
I'm with the Personal but I don't have a SS. I find it hard to believe there are prohibited models for road legal vehicles. Seems to me it would simply be easier to charge usurious rates to make people go away. As in, they'll insure you for the cost of a brand new bike.
 
dam and i was gonna buy a 600 sport this year. when are they taking over state farm. maybe i can sneak one in before they change the model.
 
klr_guy said:
Sweet, can't wait ;)
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That just means more people comparing their bikes to others and thinking theirs is worth more lol.

That overpriced motorcycle thread is going to needs its own forum.
 
I'm actually very worried about this =/ At least there's more than a year to prepare? =/
 
Ontariomystic said:
Doesn't say anything about purchasing their auto insurance.
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They are buying the Canadian arm of State Farm, which includes the auto business.


油井緋色;2121565 said:
I'm actually very worried about this =/ At least there's more than a year to prepare? =/
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I would be worried if I was insuring an SS bike. There are a lot of what if's. Desjardins said they will keep SF as a separate entity. Does that mean they will leave rates unchanged?

The mutual insurer has struggled to achieve underwriting profitability in recent years
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Judging by this, I doubt it. But I'm glad I ride a supermoto :)
 
spaceboy said:
I would be worried if I was insuring an SS bike. There are a lot of what if's. Desjardins said they will keep SF as a separate entity. Does that mean they will leave rates unchanged?
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I haven't had time to read into the details, but if they plan to keep SF as a separate entity, then they will probably retain the SF rating structure; however, I would still expect some rate changes since SF Canada has been bleeding red ink the last few years.
 
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