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Writing the exam
News AssociationsBrokersCommercial LinesInsuranceLegislation / RegulationMGAsProfessional Development

Broker regulator outlines approach to MGA licensing

June 12, 2023 by Jason Contant

Ontario’s broker self-regulatory body is looking at its licensing exams with a stronger focus on commercial lines and MGAs, Registered Insurance Brokers of Ontario (RIBO) CEO Patrick Ballantyne said last week during an industry event.  “Those exams are currently under

Girl after shopping discovered the loss of her automobile. Angry woman talking about missing car on phone. Vehicle theft concept
News AssociationsClaimsInsuranceLegalLegislation / Regulation

Auto insurers pay out record amount for auto theft

June 8, 2023 by David Gambrill

Supply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in

Diversity in the workplace
News AssociationsBrokersInsuranceMarkets / Coverages

Easy, low-cost ways to improve DEI at your brokerage

June 6, 2023 by Jason Contant

Brokerages that might not have resources to embark on large-scale diversity, equity and inclusion (DEI) programs can start small by committing to change, a speaker said Tuesday during a Canadian Underwriter webinar. “If you’re a small brokerage, maybe don’t have

Smoke rises from wildfires in the Halifax area
News AdjustersAssociationsClaimsClaims CanadaInsuranceMarkets / Coverages

What it’s like on the scene of the Nova Scotia wildfires

June 1, 2023 by Jason Contant

Two large wildfires burning in Halifax and Shelburne counties in Nova Scotia remain out of control, even as fire and additional living expenses (ALE) claims start to trickle in for insurers and adjusters. Some adjusters aren’t able to access the

Canada flag and Alberta flag flying on a pole against blue sky
News AssociationsBrokersInsurance

After Alberta election, what’s next for auto insurance?

May 30, 2023 by Alyssa DiSabatino

With the United Conservative Party’s Danielle Smith re-elected as Alberta premier, the industry is hoping for both long- and short-term solutions to the auto issue, especially since the province’s “rate pause” makes it harder for drivers to secure coverage and

One Size Fits All Clothing Label
News AssociationsCommercial LinesInsuranceLegislation / RegulationRisk

Does one-size-fits-all regulation work for the P&C industry?

May 23, 2023 by Alyssa DiSabatino

P&C insurance industry leaders called for bespoke, yet predictable, regulation at the Insurance Bureau of Canada Financial Affairs Symposium last week. When asked broadly about regulation, Celyeste Power, IBC president and CEO noted no two carriers are alike, and so

Third party person icons interconnected by arrows
News AssociationsBrokersCommercial LinesInsuranceMGAsRisk

How insurers will handle new third-party risk-management guideline

May 18, 2023 by Alyssa DiSabatino

Canada’s financial solvency regulator’s new guideline for managing risks associated with third parties (including brokers) will require insurers to find a ‘balance point’ for compliance, one industry expert said.  The Office of the Superintendent of Financial Institutions Guideline B-10: Third-Party

Microphone on a podium with blurred crowd of strikers in the background
News AssociationsClaimsCommercial LinesEmploymentLegalMarkets / Coverages

Why standard coverage for unions doesn’t cut it

May 15, 2023 by Alyssa DiSabatino

Unions and corporations operate differently, and that means a union needs more tailored insurance coverage when an aggrieved member takes legal action, lest they find themselves underinsured, one expert told Canadian Underwriter.   Standard policies typically exclude important coverages for unions,

Tax on or off?
News AssociationsInsuranceMarkets / Coverages

Province to permanently remove sales tax on personal property insurance

March 29, 2023 by Jason Contant

Newfoundland and Labrador’s provincial government has announced it will permanently remove the 15% retail sales tax (RST) on personal property insurance, a move Insurance Bureau of Canada (IBC) says aligns with its “recommended approach after months of advocacy.”  The issue

Big rig trucks parked in a fleet facility
News AssociationsBrokersInsuranceMarkets / CoveragesProductsTechnology

Facility’s newest approach for cracking down on trucker misrepresentations

March 22, 2023 by Alyssa DiSabatino

Facility Association (FA) is implementing a telematics program in Alberta that will collect geographic information on its participants to help ensure their premiums accurately reflect their risk. The programs allows FA the side-benefit of seeing who’s misrepresenting where they’re headquartered

Data flowing across multiple computer systems.
News AssociationsBrokersInsuranceMGAsTechnology

How CSIO’s forging consistent data standards interpretation

March 6, 2023 David Gambrill

The Centre for Study of Insurance Operations (CSIO)’s mandate has evolved to ensure consistent interpretation of the property & casualty (P&C) insurance industry’s data standards by insurance companies and technology vendors. “In developing the multi-year strategic plan, CSIO’s board of

Complaint file
News AnnouncementsAssociationsInsuranceMGAs

New ombudservice to handle complaints against MGAs

March 3, 2023 by Jason Contant

The Canadian Association of Managing General Agents (CAMGA) has created an ombudservice to act as an adjudicator of queries and allegations made against the association’s members. CAMGA has partnered with Barb Szychta as the independent MGA ombudservice, the association said